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Buying a New Car
- If a rebate is offered, negotiate the price as if it didn't exist. Rebates come from the manufacturer and shouldn't be a reason to pay the dealer more for the car.
- Learn about the sales tactics dealerships use to get you to pay top dollar. Armed with this information, you will be better able to deflect the tactics and get a good deal. There are lots of books on this subject. A few include Don't Get Taken Every Time, by Remar Sutton (Penguin Books), and So...You Wanna Buy a Car, by Bruce Fuller and Tony Whitney (Self-Counsel Press).
Trading in Your Old Car
Before trading in your old car, find out its value by looking at the Kelley Blue Book (www.kbb.com, also available in libraries and bookstores) or Edmunds Car Buying Guide (www.edmunds.com). You can also order a used car price report from Consumer Reports (www.consumerreports.org or 800-258-1169). Most dealers will offer you the low Kelley Blue Book value, at best. Check classified ads and price reports. Often, you can get a better deal by selling it yourself.
And whatever you do, don't discuss a possible trade-in before you've agreed on a price for your new car.
If you let the dealer examine your trade-in, be sure to keep a set of keys and the original registration. Unscrupulous dealers have been known to hold customers "hostage" by refusing to return their trade-in, keys, registration, or driver's license until they are so worn down that they agree to make a purchase.
When the Car Is Delivered
When your new car arrives, your vigilance must continue. Before signing a receipt and paying for your new car, make sure you:
- Check the car against your order, item by item. Make sure all features are included.
- Inspect the car for damage. Some new cars are damaged during manufacturing or in transit.
- Test drive the car. Pay attention to odd noises, smells, or vibrations. Make sure the warranty matches what the dealer agreed to.
Buyer's Remorse
Make absolutely sure you are buying the car you want at the price you want before you sign the contract. There is no "cooling off" or cancellation period for most car sales. If you change your mind about the car a few days later, the dealer doesn't have to take it back from you.
If, however, the car has a serious defect or is a lemon, or if there was fraud in the sales transaction, you may be able to cancel the contract.
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