As with all decision-making processes, preparation is key for getting good results. In the automobile business, knowledge is power. Our 20 Step plan helps you, the consumer, navigate the tricky waters of the automotive marketplace. With the exception of Step 12, "Mechanic's Inspection," you'll use the same process whether the car you want is new or used.
Step 1: The Buying Process - You've decided to buy a car. What's involved? An overview.
Step 2: Which Car Do I Want? What Car Do I Need? - What does your vehicle need to do for you? What are the available choices and options? We review the various types of car, truck and hybrid; safety features; front-wheel versus rear-wheel versus all-wheel drive; stick versus automatic transmission; optional equipment; and other considerations. Here's where you begin to sort through the huge variety of automobiles available, narrowing the choice down to a few categories.
Step 3: How Much Can I Afford? - The down payment and the monthly installment aren't the only costs of owning an automobile. We show you how to anticipate the hidden expenses. To see what money you can realistically afford to put into your car, make a budget early in your car-buying quest. If you need to finance, use a payment calculator to see how changes in rate, purchase price, term, and down payment can reduce your loan payments.
Step 4: Using Internet Resources - Valuable shopping advice and price information online helps you refine your choices further. You become an expert on the cars on your list: what options they come with, what they go for in your area.
Step 5: New or Used? - Although new car prices average $25,500, it's easy to find a like-new car for substantially less money. Why buy new? The benefits and drawbacks of both new and used vehicles.
Step 6: Financing Options - To get a good deal, get the financing first. How? Loans and leases involve renting money. Web-based lenders such as Car.com and PeopleFirst.com (both highly recommended) provide more options for internet-savvy loan shoppers. What's your best option?
Step 7: Leasing Explained - Leasing is a good idea for businesses, salespeople, or people who can deduct the payments on their taxes. Leasing offers lower payments than conventional financing; we explain why, and explore what you get -- and lose -- in return.
Step 8: Locating a Good Vehicle - To be a smart car-buyer you need to comparison-shop. There are hundreds of places to look for new and used vehicles: here's where to find them.
Step 9: Dealing With Dealers - For a hands-on look at your choices, it's time to visit the car lots. How to choose a dealership and handle the salespeople. Dealer slang defined.
Step 10: Taking the Test Drive - The test drive (Step 10) comes WAY before any negotiations on price (Step 17). You're here to experience for yourself how different makes and models handle and perform.
Step 11: Final Vehicle Selection - Narrow down the choices and figure out a reasonable price.
Step 12: Mechanic's Inspection - If a previously-enjoyed vehicle makes your final cut, don't make a $10,000 mistake! A thorough mechanic's inspection and an Experian AutoCheck Report (highly recommended) are your best protection against buying a used car with costly, hidden problems.
Step 13: Warranties Explained - The plusses and minuses of extended warranties. Unless you're prepared to pay for the very best policies from the highest rated companies like Warranty Direct (recommended), we find them more trouble than they're worth.
Step 14: Shopping for Insurance - Don't sign anything until you find out what your insurance costs will be. Before you buy, get a quote on the car you want from an online insurance broker who represents many different firms like Insweb.com and Netquote.com. The difference in premiums between insurance companies can be staggering!
Step 15: Disposing of the Old Car - The advantages of giving away your clunker to a charity or family member. Selling privately versus trading in.
Step 16: Buying on the Internet - Discount internet buying services like Autobytel.com, Autoweb.com,CarPrices.com, CarsDirect.com, CarSmart.com, FordDirect.com and Stoneage.com (all recommended) are great for busy people and for cost-conscious consumers who dread typical dealer negotiating or are fearful of being ripped off.
Step 17: Final Dealer Negotiations - Here's where your knowledge, patience, and hard work pay off.
Step 18: Taking Delivery of the Vehicle - We walk you through the paperwork and alert you to any hassles that could occur when you pick up your vehicle.
Step 19: Problems Down the Road - What if your purchase turns out to be a lemon?
Step 20: Maintenance - Don't play chain-store roulette with your precious new possession. The dealer's service department or your independent mechanic can provide reliable service and spot problems before they turn into disasters, if you visit regularly.
Ref: http://www.smartmotorist.com/buy/buy.htm
Regards,
Dr.MAQ