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Some Dos And Donts For Buying A New Car
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Written by Charles N. Oliphant   
Tuesday, 17 February 2009
Things to Do:

- Make a point of naming such features as the engine size, its horsepower, whether it has standard anti-lock brakes--that kind of thing. Your knowledge of the car will impress the salesman and dampen any intent of his to try the shuck-and-jive.

- Test drive the competition before you settle on any one car model. Ideally, get a dealer to let you take a car home overnight. Many dealers will accommodate such requests from a buyer they believe to be "serious." Alternatively, rent the car from Avis, Hertz or some other outfit for a couple of days. The idea is to spend some time with the car--not just drive it around the block with a prattling salesman riding shotgun. Run the car on the freeway, on pot-hole strewn city roads and through twisting country byways. You want to be sure you are comfortable with the thing and like the way it drives under the conditions it will be used for when it's yours.

- Bring a wife/husband/friend--whoever--for moral support. Have this person ready to say things like, "that other dealer had some pretty nice cars," or "maybe we should shop around some more" when the negotiations get hot and heavy. Cautionary note: Make sure the person you bring is not the impatient type or apt to take the salesman's side. You're better off alone, in that case.

- Know the wholesale and retail trade-in value of your old car. This information can be obtained through National Auto Dealer Association used car reference guides available at libraries--and by scanning the classifieds, checking the prices of cars similar to yours. Take all receipts for work/service performed with you. Have the car washed and vacuumed so it looks its best.

Things Not to Do:

- Never tell the salesman what kind of monthly payment you are looking for. Salesman yearn for this kind of buyer like sharks smack their jaws at the prospect of a torpedoed luxury liner. That "low monthly payment" can mask an outrageous total price for the vehicle because even a half-million dollar debt can look manageable if you stretch the payments out long enough. Worry about the sales price--not the monthly payments.

- Impulse/spur of the moment buying. This is the second largest purchase, next to a home, you will probably ever make. Would you buy the first house that caught your eye--without inspecting it thoroughly and comparing it against others that were similar? Of course not. Don't do the same thing with a car.

- Don't discuss your trade before you agree on the sales price of the car you're buying. If you do, it's a sure bet he'll sucker you by offering a generous trade-in allowance--then make up for it by jacking up the price of the new car. Only discuss your trade after you have agreed on the sales price of the new car.

- Don't shop for convertibles in Spring, 4x4 trucks in the Fall--just common sense. The best time to buy a summer car is in the dead of winter--and vice-versa.

- Don't wait until after you've bought a car to find out what the insurance costs will be. On some sporty cars, it can be as high as $2,000 or more annually to get the required full comprehensive coverage. Some people buy a car, only to discover they can't afford the insurance premiums. Then they have to sell the car at a huge loss--or go into to debt even deeper to finance the premiums. So do yourself a favor and talk to your underwriter before you go shopping.
Last Updated ( Tuesday, 17 February 2009 )