Buying a New Car
Want a good deal on a new car? Do your homework and learn how to negotiate.
All too often, people in the market for a new car walk out of the dealership with a car they can't afford, a car they don't really want, or a car for which they paid far too much. This is not surprising, given that dealers are masters at applying high-pressure sales tactics. The key to buying the car you want at a good price is to do your homework before you enter the dealership and to negotiate effectively with the dealer. (If you're looking for a used car, see Buying a Used Car.)
Comparison Shop
Before you step into a dealership, decide which car you want to buy. Or, at the very least, narrow your choices down to just a few. There are many ways to comparison shop outside of a dealership. Here are some good starting points:
- Consumer Reports magazine publishes an annual car-buying issue. It compares price, features, service history, resale values, and reliability of numerous car makes and models. Your local public library should have this.
- Motor Trend magazine and The Car Buyers' Art, by Darrell Parrish (Book Express), also have useful information for comparing vehicles.
- The Internet has lots of information. Try www.autosite.com, www.carwizard.com, www.kbb.com, and www.carprices.com.
Understand “Dealer Talk”
The dealer is likely to throw some unfamiliar terms at you when discussing price. Before you start negotiations with the dealer, be sure you understand what the different “prices” really mean and where they are listed.
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