Car Buying Tips

These are some good tips for buying a new car. But they left out a couple of things.

1. Always be prepared to walk out if you're not getting the deal you want.
   
   The last thing a dealer wants to do is spend time negotiating with a buyer and then have that buyer walk out without closing the deal. Time is money for them and if they see that you're ready to walk away, they suddenly remember a "special" discount that allows them to meet your price after all.
   
   


2. Get the best financing available
   
   High interest rates increase the costs of a car. If you have excellent credit, hold out for the lowest interest rate you can get. If they won't budge on interest, see number one above.
   
   


3. Insist on the best price on your trade-in
   
   If you're trading in your old vehicle, insist on the best price for your car. Dealers make a good profit off of trade-ins and they will generally try to give you the least amount they can. Look up your car in the Blue Book and don't let them tell you that the Blue Book is meaningless. If the Blue Book was meaningless, BMW wouldn't cite it in their ads. Trade-in value doesn't have to kill a deal, you can always sell your old car yourself, but it does make it easier if you can get good value for you car from the dealer.
   

The Edmunds site has some great resources including an article called "Confessions of a Car Salesman" that provides some incite into how car salesmen get customers to pay more for a car than they should. It's a must read if you're going car buying in the near future.