The Car-Buying Process
Once you determine how much car you can afford and what features you want, it’s time to find the perfect vehicle for you.
Start online
The internet is the ideal place to explore pricing, equipment, safety reviews, quality, and cost of ownership. For added peace of mind, you can check out what actual owners say about the vehicle. Excellent resources on the internet include TRUEcar.com, Edmunds.com, and Kelley Blue Book.
Once you select the model, options, and color, it’s time to get serious about price. One key to success in negotiating a new vehicle is collecting as much information as possible before making the deal, and nearly all of that information can be found on the Internet. Take the mystery out of vehicle pricing by finding the invoice price, MSRP, and Fair Purchase Price all before setting foot on a car lot.
Buying tips for getting the best deals
- Everything is negotiable. Don’t be afraid to ask and ask again.
- Find out what the “invoice” price of a car is, in addition to the MSRP. The invoice price refers to what the dealer paid the manufacturer for the vehicle. This knowledge should come in handy during negotiations.
- Consider buying later in the year before the car’s body style is due to change.
- Buy around the last day of the month. Dealers have monthly sales quotas.
- Buy at the end of the year. Some dealers will clear out inventory for tax reasons.
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