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Story Published: Nov 3, 2004 at 3:22 AM PDT
Story Updated: Aug 31, 2006 at 1:36 AM PDT
It seemed like a perfect time to go over my four tips for a being a smart car buyer.
1. Shop for your car loan first. Before you go to the dealership, contact your bank or credit union to see what they'll charge you to borrow the money you need. Then, if you want to let the dealer compete for the loan, you'll know what sort of deal you're being offered.
2. Do your homework. It's the only way to know if you're getting a good deal or being taken for a ride. Use the Internet or consumer publications to find out what the dealer paid for the vehicle you want.
3. Negotiate! In most cases, buying or leasing a car is 3 separate transactions: the price of the car, the finance package and the trade-in allowance. All 3 are negotiable. Work from the dealer's actual cost up, not from the sticker price down. For those who are uncomfortable negotiating, there are no-dicker dealers in the Puget Sound area. At these dealerships, the price on the window is the price you'll pay.
4. Check the paperwork before you sign. Make sure that you get full credit for your down payment, trade-in allowance, and all rebates. Are the price and finance terms what you agreed to? Is there anything listed that you did not agree to buy?
Remember, there is no 3-day cooling off period for car sales.
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