Your Money_ The Missing Manual - J. D. Roth [86]
Before you set foot on a car lot, figure out which makes and models you're interested in. It's best to give yourself at least three options, because if you set your heart on just one vehicle, you're more likely to become emotionally involved with the deal, which puts you at a huge disadvantage.
Tip
Once you've narrowed your choices down to a handful of models, you can thin the field further by using Edmunds.com's true-cost-to-own calculator: http://tinyurl.com/edmundsTCO. It lets you compare the ownership costs of new and used vehicles. Enter a car's make, model, year, and trim style, and it tells you how much it costs to run that vehicle for a year.
Know exactly which cars you're considering and why, and be familiar with the packages and options. The more info you have, the more bargaining leverage you've got. (And doing your homework may reveal that buying used is a better option for you. If that's the case, flip to Sell your old car separately.)
Take your time
The more time you have to shop, the better deal you can get. If you need a car today, the dealer has no reason to lower the price. A whole weekend is good; two weekends are better. And with an entire month, you should be able to get a great deal.
If you feel rushed at any time, the best thing you can do is stop. Leave the lot. Go home. Take a breather. When you feel hurried, the dealer gains the advantage.
Go for a test drive
Okay, so this tip is a no-brainer. But it's easy to get excited when you're shopping for a new car and forget that the point of a test drive is to do more than just find out whether you feel cool behind the wheel of a particular model. You want to see how the car does under normal conditions. If you do mostly freeway driving, be sure to take the car on the interstate. If you live in a hilly area, take it up some hills.
Here are some other things to keep in mind: How does the car handle? Is it comfortable? Do you feel safe? Trust your gut. If something bugs you about the car in the first few minutes, it'll just get worse with time. And ask the salesperson any questions that come up during the drive.
To keep all your ducks in a row, you may want to print out the Consumer Reports test-drive checklist (http://tinyurl.com/CR-testdrive) and have a friend help you fill it out while you drive.
Note
The test drive is a double-edged sword. First, you need to make sure you're driving the model you want; if you drive a model with options that aren't important, you may fall in love with those features. Also, many dealers consider the test drive the salesperson's best friend: It gives them time to build rapport with you, to learn your strengths and weaknesses. Test drives are important, but don't let them distract you from your mission: getting a great deal.
Research prices
After you've taken a few test drives, you'll probably find a car that's a good fit, but don't buy it yet. Go home and research how much you should pay. Here are some sites to try:
Edmunds.com lets you compare the suggested retail price with the dealer invoice price and what other people in your area are actually paying.
Autobytel.com offers info similar to Edmunds.com and gives you a chance to get competitive bids from dealers near you.
Consumer Reports has a popular new-car pricing service (http://tinyurl.com/CR-carprice). For $14, you can get a report that includes the dealer invoice price and all possible options, a list of dealer rebates, a theoretical rock-bottom price, and negotiating tips.
You can also find out if the manufacturer is offering any rebates or incentives to lower the cost of the car by hopping onto Autopedia.com: http://tinyurl.com/AP-rebates. Armed with your pricing info, it's time to make a deal.
Tip
If a dealer doesn't have a car with the exact package you're looking for, don't be talked into paying extra for the things you don't want or need. Find a car that has the right options, even if it means waiting a little longer.
Make a deal
Find a dealer who has the car you want with the options you want.