These simple yet effective car buying tips can save you thousands of dollars and keep you away from Dealer Scams, "Car Buying Expert" Scams, and other pitfalls.
All the tips are organized in an easy-to-use manner:
- Tip #1: Get the best price before you visit any dealer.
- Tip #2: Avoid spending money on any worthless "secret prices".
- Tips #3-7: Face-to-face dealer negotiation tips.
- Other related tips are introduced where needed. They are also available on the right panel.
Tip #1 Get the Best Price: Bidding Among Dealers is the Key
It is critical to get a complete list of your local dealers (including the ones within your driving distance) and then start a bidding among themselves. You can then easily find the best price and choose a very small list of dealers to meet.
This simple yet extremely effective process will take away any guess work and minimize the potential danger of being scammed by a dealer.
Click here for details about this simple yet effective car buying strategy.
Tip #2: Be Aware of the “Car Buying Expert” Scams
While many car buying tip Web sites show you how to stay away from dealer scams, they may have their own neat traps for your hard-earned cash. Such as:
Scam #1: A “Secret Car Price” that costs you only $30 and can save
you thousands.
Click here for details.
Tip #3: Don't be Fooled by the "Invoice Price" Scam
An "honest" car dealer may show you the Invoice Price of a car and assure you that they barely break even for this deal. You feel that the price is not only special and unique, but also a privilege that only you are entitled and is only available today.
Be aware that:
|
MSRP (the Sticker Price)The Manufacturer‘s Suggested Retail Price (MSRP) is the retail price set by the manufacturer and posted on the federally required window sticker often referred to as the Monroney sticker. Usually the the price you actually pay for the car is lower than MSRP. For more information about MSRP and other financial terms, please click here. |
See also: Other Dealer Scams
Tip #4: Don't Buy on the First Visit to the Dealership
The salesperson may give you exciting reasons to buy the car -- today, in stock...
Be aware that:
|
Instead of buying right away, ask for the contact information, the quote, and detailed information for features/prices.
Tip #5: Control Your Emotion
Your are emotional and you can't help it. Your "solid plan" melts completely the moment you see "my new car". Research shows that people gets really excited:
- When they sit in the car and smell it
- When they test drive the car
Ask yourself:
- Have I compared different dealers yet?
- Is this exactly what I need? Am I paying for a "better model" that I don't really need?
- Is there a reason that I can't go home and think about it tonight?
Tip #6: Don't Bring Kids
Don't under estimate the power of your kids for purchase decisions. They can give you more pressure than the salesperson:
- Woos, whoas, and "I want it" have the same power on cars as on candies and toys.
- "I'm hungry!", "I wanna go home!" - And you may eventually want to cut the deal quickly and go home.
- "Nice kids.", "Come and try this." - If the car fits the kids, what else can you expect?
Arrange before you go:
- Leave tons of time: A "quick visit" may become an exhausting afternoon (probably the evening as well). Arrange everything around this extended time frame.
- Get a good baby sitter and let him or her know that it may take a bit longer than expected.
- Get food and other things arranged.
- Call home once a while so that you don't constantly worry.
Tip #7: Do Your Homework
Never rush to buy a car without doing your homework. A salesperson can tell that you are uninformed and unplanned. He will definitely take advantage of it to rip you off.
Get prepared:
- Ensure that you have use the powerful dealer bidding strategy to get the best price and a short list of dealers for face-to-face negotiation.
- Understand special offers, such as Extended Warranty and car accessories, and decide whether you need them.
- Set up financing to determine how much you can afford. Be extremely careful if you have a bad credit history. Already having a financing prior to entering the dealer gives you bargaining power.
- Get your own credit score and correct any mistakes. Your APR (Annual Interest Rate) of the car loan directly relies on the score.
- Investigate car insurance. You may be surprised to find that the new model costs a lot more to cover.
- Decide what to do with your old car: To trade in, sell by yourself, or donate.
- If you are buying a used car, check the Kelley Blue Book and optionally run a CARFAX report. Check to ensure that you won't get stuck with a flooded car from Hurricane Katrina or Rita.
- Decide your total budget.
- And most importantly, read this page to avoid dealer scams.
The Biggest Challenge is YourselfGetting prepared is the key to get a good deal for your new car. People refuse to do so for the "lack of time", the fear of unknown, or the "super confidence". Regardless of the excuse, it could mean an unhappy commitment that costs you thousands of dollars and lasts for years. As a matter of fact, it is now very easy to get educated and prepared thanks to the Internet. All you need is 2-3 hours of your time to make sure that you are absolutely ready for at least these 4 must-haves:
|
| Top |
|
|
© SoftApproach Corporation. All Rights Reserved. |
