Be an Informed Shopper

What to consider when buying a car- Tips for Purchasing a Car, Financing, Getting a fair buy, Trade In and Taking Your Car Home 

Informed shoppers have the edge when negotiating a price.
Make sure to get the best deal by planning ahead! 

    Purchasing Your Car

·        Narrow your choice to a few cars that fit your needs and get as much information as you can about the vehicle of interest

·        How long do you plan on driving the car? Does it suit your needs?

·        Check to see how costly general repairs will be.

·        Remember that is important to purchase your car from a dealer with an excellent reputation for good service. (get references from friends)

·        When purchasing a used car consider retail and wholesale cost. Retail and dealer cost are important when buying a new car. (This information can be found at http://www.autoworld.com/scripts/criteria.asp?vis  it will provide a printout of the complete pricing of the car with standard equipment and options.)

·        Always test drive the car you plan to purchase.

·        Check the car for items such as the spare tire, jack, owner’s manual or previous maintenance records if buying a used car.

·        One last thing to remember, the best and easiest and most economical way to buy a car is to pay cash. 

Financing Tips

Most people finance or borrow money to buy a new car; here are some helpful hints to guide you through the process ...

·        Before you go to pick out your new car, find out how much you are approved to borrow before you commit to a new car. Your bank or credit union may offer you a better interest rate than the dealer may.

·        Check helpful Internet sites, which will assist you in finding a good interest rate.

·        The average new car loans are between 54 and 60 months. However, some loans can be 36 months or 70 months.

·        Make sure that you know the exact amount that you are financing, your monthly payments and the actual total you will have to pay back over the course of your loan.

·        Do not leave the dealership before getting financing information in writing.

·        Read all the forms carefully at the dealership before signing anything.  

         Getting A Fair Buy

·        Do you know how much a fair price should be? How much over the manufacture invoice should you have to pay? This all depends on the model of car you would like to buy and the dealership in your area. It is usually between 4 to 8 % over the invoice price minus any rebates that they are offering at the time.

·        Compare prices between dealers in the area. Try not to let them get you to name your price. Having the invoice price will give you the advantage. Remember "extra options" cost more and can get complex.

·        Do not be in a rush to buy - regardless of what the dealer says about "specials for today only."

·        Get a written price quote that is good for at least a week "not just for today" (you do not need to put down a deposit to receive a written quote.)

·        Supply and demand- Slow-selling models might be closer to the amount you would like to spend. One of the best ways to find out the supply and demand is to go to a few different dealers in the area and check availability and prices of different dealers. A dealer will lower the price on a car, which is overstocked.

·        Consider the resale value. How much will your car be worth when you want to sell it?

·        Monroney- Every vehicle sold in the US must display in the car window a Monroney car sticker showing the manufacturers suggested retail price for the car and all of it's options. Many of the car dealers also affix a second price sticker that contains items that have been added to the dealership. Since October 1, 1994, Federal law requires that all cars also display a parts content label, which can appear as a separate sticker.

·        Advertising Charge- Watch out for the advertising charge that some of the dealers can impose and pass on to you. This charge is usually anywhere from $200 to  $400 and does not always show up on your price guides. You will want to try and negotiate this if you can. If the charge is too high you might want to look at a different model of car.

·        Destination charges- what is the cost of shipping the car from the factory to your dealer? It this the true charge? 

        Do You Have A Trade In?

·        Did you know that you could get a better price if you advertise or sell your used car yourself? You can get an idea as to how much your car is worth on our site at http://www.autoworld.com. Autoworld even offers fast and easy steps to help create your own window sticker. Remember that a clean well maintained car sells better and you will also receive more money for your trade in.  

         Taking Your Car Home

·        Make sure that you got the car that you paid for by comparing the VIN number (Vehicle Identification Number) on the dashboard with your documentation and make sure it matches.

·        Is everything in perfect condition? ( stereo, AC, power windows,  interior) Inspect the body of your car for scratches, dents or mis-matched colors. Could be a sign of previous body repair. Is everything you paid for there?

·        Put all important car documents together and check them over before you leave. ( bill of sale, warranty papers, tag transfers, title )  

·        If you have ordered a special option, and it is not available at the time of purchase, make sure that you get everything in writing. This may save you problems in the future

·        Most Important- Do not sign the contract until you are 100% confident that you have made the right purchase for your needs.

These few simple steps in the beginning can save you from having to take actions in the future should a problem arise.