Basic Car Buying

 

Determine what vehicle you want to buy by researching and test driving different cars.
Get the price report from Consumers Reports for new vehicles, or Kelley Blue Book/NADA for used cars.
Determine the value of your trade either to sell yourself or for trade-in purposes.
Get the payoff on your car, if applicable.
Shop for a loan and calculate your contract term and monthly payment using an Interest Calculator.
Contact your insurance agent to make sure you are covered when you sign your contract.
Investigate GAP insurance.
Test drive the vehicle you want to buy.
Let the salesman know how much you like the car and that you want to buy TODAY.
Before he speaks, make your offer. Insist he take the offer to his sales manager.
If your offer is firm, walk away. If it is negotiable, come up slowly the amount you are willing to negotiate (no more than $500 over invoice). You’re not trying to meet the salesman halfway.
Ask to verify the invoice figures after the deal is accepted.
Negotiate the loan at F&I.
Do not be upsold on items you don’t want.
Read and understand every word of your contract before you sign.
Congratulations on a job well done!