How to Control the New Car Buying Process

Posted by Anonymous , 9/4/2007 Tags:ControlNewCarBuyingProcess
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How to Control the New Car Buying Process

Introduction

Don't buy a car utilizing "yesterday's model" of walking into a dealership unprepared. Take command of the new car buying process, by manipulating and harnessing available data, enabling you to get the best deal in the shortest
and most efficient way possible.

Instructions

Difficulty: Moderately Easy

Things You'll Need

  • A computer with Internet access

Steps

1

Step One

Research the manufacturer's site to find exact specifications of the make-model-color-equipment of the car your desire. i.e., if you want a Toyota Corolla, go to www.toyota.com and do your homework.
2

Step Two

Research third party portal sites such as www.kbb.com or ww.edmunds.com to find out invoice and retail pricing and whether there are any special discounts, rebates or financing terms on the car (equipped as you desire).
3

Step Three

Determine whether you are going to purchase the car or lease the car beforehand. Usually if you are going to have a payment, set up an amount that you are comfortable with every month.
4

Step Four

Call your insurance provider and get a quote on what your yearly premium will cost upon taking ownership of the new car.
5

Step Five

Know exactly how much money OOP (out of pocket) you are going to have to put down towards "taking ownership"--buying or Leasing. This "OOP" money can come in the form of cash or trade on your current car. It is imperative
that you already know your credit score beforehand.
6

Step Six

If you have a trade-in, make sure to look up the car's value at kbb.com. Unless your car is an '07 Mint Condition Maybach with 10 miles on it, use "Fair" under "Select Vehicle Condition".
7

Step Seven

Consider dealers that offer more "value added incentives" such as "price protection guarantees", "free oil changes" or "other service discounts."
8

Step Eight

Research local dealerships in your area (of the brand of car you are going to buy) and ask for the person who runs the Internet dept if you can work directly with them regarding your transaction.
9

Step Nine

Specify to the Internet department decision maker that you'd like to have finite car buying terms offered to you by email or in writing if you agree to provide them with your social security number so they can run your credit(assuming you aren't paying cash in sum for the car).
10

Step Ten

Upon receiving terms and assuming terms are agreed upon by you, set an appointment at the dealership to come in and acquire car with a limited document signing in the F&I office.
11

Step Eleven

Sign paperwork in F&I office without agreeing to any additional add-on programs or terms. Survey the car for any visual defects, and test drive the car to see that it performs to your standards.
12

Step Twelve

Congratulations. You just bought a new car in the most hassle free and consumer controlled way possible.
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