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Tips on buying a new car

post #1 of 9
Thread Starter 
Buying-a-new-car-5-steps-to-getting-the-best-price- Yahoo! Autos Article Page
post #2 of 9
and also don't forget your holy water
post #3 of 9
Tips on buying a new car:

Don't
Cars lose 25-30% of their value when they're driven off the lot. Buy a nearly-new one and save a fortune.

No car is the only car
If the seller or dealership won't give you what you want, never be afraid to walk away. Period.
post #4 of 9
Bring a legal pad and a pen with you. Write down what the salesman says during negotiations and hold him to it. Make him initial stuff and/or sign it if you can.

Very, very effective at stopping the BS and lies.

Had no idea this worked until a couple friends and I took a partially deaf friend to a dealer to help buy a car. We'd write stuff down for him, which totally freaked out the salesman. I've found it incredibly effective since. They don't like it at all, but it forces them to be honest and deal fairly. They still get a sale and some profit (which is fair and right) but they don't jerk you around.
post #5 of 9
nice...and you can even tape record the conversation
post #6 of 9
There is a very useful book called, Don't get Taken Every Time that I have found useful. very, very useful.

Last year my son bought a Toyota Camry in Florida at a good price. I checked the price quotes system on Edmunds for his location, we received 2 offers and he bought it. They treated him very well.

Your milage may vary.

F
post #7 of 9
Try the Costco Auto Buying Program if you have a Costco near you. I was able to purchase a new Toyota for $100 over dealer invoice, which was a better deal than the salesman (a good friend of mine) could get as an employee of the dealership! Plus, it was painless because Costco did all the work. Truly a killer deal!
post #8 of 9
I've been buying and selling vehicles for 34 years. Yea, I'm that old . There is no magic answer. The first responder is right on the money .. but only if you want to keep most of yours. Buy at around 3 years old. Depreciation and a good deal will take you down to 40-50% of new.

The Costco program and others like it aren't necessarily the best deal. In 2002 I got their price and then beat it by $1000 on a Mitsubishi.

I've never used Uncle Erik's legal pad method, but that certainly has merit. Especially if you bring a good friend or significant other along with the sole purpose of writing down what THEY hear. Also have to be willing to walk away from a deal.

I've found that new or used, knowledge is your best defense against getting taken. The ability to assimilate new information and being fast on your feet and with your intellect is your second best asset. You have to be able to determine what the market bottom line is and then determine if the person you're talking to can get there for you.

Within the past 6 months I've purchased a new travel trailer and a used truck. For the trailer I worked with a dealership I knew but had not done business with before. I used knowledge, innuendo, fact, competion and fear to get the price I wanted. The sales person, sales manager and owner all acknowledged they would had never and were not likely to let another trailer go for such a slim margin. The truck I purchased I paid a fair price for. If I had been completely healthy (had broken ribs) I would have easily saved another $1000 using these same tactics. Sorry, but success is hard won through experience, not in books or forums.

The two best pieces of advice I can offer are:
1. Always be willing to walk away from a deal. You can never want something so bad that you have to have it
2. Don't be afraid to make a crazy offer. If you set it up right they just might bite.

Deal making is NOT a popularity contest. There are always winners and losers. I won on the trailer deal and decided I could afford to lose on the truck deal. In both cases I had assessed the market and knew exactly where I needed to be. In both cases I made the choice, no one forced their will on me. You need to assume control of the sale, no matter how you succeed in doing so. What works for me is not likely to work for you. But I can sure learn from what works for you!

Good luck!
post #9 of 9
With gas prices increasing, mileage would be top of the list .
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