consumer advice know what you want Buying a new car? Get the facts first
Buying a new car soon? Advice from consumer and industry experts
Date published: 4/21/2007
| 1. Think.
Before you start taking test drives, you've got some work to do.
Ask yourself what you want from a vehicle, recommends George Hoffer, an economics professor at Virginia Commonwealth University who has done extensive studies on the automobile industry.
Will your family grow during the car's life? Do you want something new and flashy? Is safety a priority? What did you love, and loathe, about your current vehicle? Do your budget and $3-per-gallon gas allow for a high-mileage vehicle?
|
| 2. Research.
Once you know what you want, or need, start looking for information.
To see the invoice price of a vehicle and its features, Consumer Reports, Consumer Guide Automotive and edmunds.com are reliable sources of information, Hoffer said.
If you want to investigate safety, go to safercar.gov, the National Highway Traffic Safety Administration's Web site for crash test results. |
| 3. Investigate financing.
Don't rely on dealer financing alone, recommends Sally Greenberg, a senior product safety counsel at Consumers Union, the organization that publishes Consumer Reports.
Check out car-loan interest rates at banks and credit unions before you begin shopping, she said. You may get a better deal there than at the dealership.
Also, be aware of how dealers offer incentives. American manufacturers tend to advertise incentives, Hoffer said, such as GM's popular employee discount offer last year.
|
| 4. Start shopping.
Don't shop alone.
"I would always take a friend," Greenberg said. "Someone who is grounded in reality, to keep you from jumping into anything impulsive, which is always a temptation when you fall in love with a car."
There is no "best" time of the year to car hunt anymore, Hoffer said. Today, car manufacturers adjust their inventories and production on a monthly, not yearly, basis.
|
|
5. Negotiate.
Talk about, and settle, one matter at a time.
Agree on the price of your car, trade-in and interest rate separately. Don't let dealers lump them together, Greenberg advised.
Also, don't make unreasonable demands, such as paying only the invoice price of your car.
A fair price is generally 4 percent to 8 percent over the invoice price, she said.
|
|
6. Drive away--insured.
Call your insurance company to add your new car before you drive off the dealership's parking lot.
You never know. Protect your investment!
Kelly Hannon: 540/374-5436 khannon@freelancestar.com
|
|
Date published: 4/21/2007
|
