Good Homework?!

Buying a car ranks right up there with getting a root canal for most people. The typical scenario for a car shopper is browse car lot, meet up with salesperson, test drive car, go inside showroom to fill out credit app, go through the emotional process of negotiating price/payments/amount paid toward trade (as applicable)/down payment sum, make purchase if deal is made. This was a fine process back when the internet was an information system used strictly by researchers, but times have changed and information equals power for the saavy consumer. So the first part in this blog series of buying a car is doing your homework.

As mentioned, the internet is an invaluable tool in gathering info. In fact, websites such as Edmund's, Kelley Blue Book, and Car & Driver are great places to start your search. A great print resource is the April issue of Consumer Reports which reviews all new cars and also offers great advice on good bets in the used car market. Their annual issues of both New and Used Car Buying Guides are also great resources; what is really nice about Consumer Reports guides is that they offer impartial reviews on models as well as predicted reliability on certain makes/models. There is nothing worse than bringing a new car home, only to have it brought back to the dealer service center for repair.

Another great resource is to peruse the section of Edmunds that allows consumers to rant or rave about their cars. And while these are not professional reviews, it can give you some insight into what issues you might have to deal with after your purchase and/or potentially warn you of buyer's remorse.

Once you've narrowed your focus to a few cars, for example you're looking for a mid-sized sedan and you now want to compare the Accord, Camry, and Chevy Malibu, the next step is to locate dealers in your area that carry the specific model you desire with the features you want. If you are looking for a loaded model with a V-6 and navigation, don't test drive the base model with a four cylinder and cloth interior. If you can find an auto mall with all the cars you seek in one place then that is icing on the cake, but be strict on features when test driving so you can best evaluate each car fairly. During the test drive be vague with the salesperson, do not mention trade in or numbers, just mention you're there for a test drive that's it.

After the test drive is complete, make up any excuse to not go into the showroom. Perhaps the tow truck brought you into the lot and your car is in the service bay, rent a car or get a ride from a friend, but refuse to sit down with the sales associate. Your excuse: I got to pick up my spouse/kid/significant other at the- fill in the blank, you got to go to work, etc. Whatever it takes, don't get caught in the trap of sitting to talk numbers, no matter how desperate the situation or how much you like the car, go back and do more research. You'll be glad you did...

Next Blog: To trade or not to trade and financing options