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Learn... Plan... Buy a Vehicle!

Steps to Vehicle Purchase
  Step 1 - Review your budget
  Step 2 - Determine your down payment
  Step 3 - Price your trade-in
  Step 4 - Check loan rates
  Step 5 - Research your vehicle choices
  Step 6 - Check out your vehicle choices
  Step 7 - Get competitive bids
  Step 8 - Prepare for the purchase
Calculators
  "How much vehicle can I afford?" (Wachovia)
  How much will my monthly payments be? (State Farm)
Tools
  "How much will the insurance cost? " (InsWeb)
  "How much will the insurance cost? " (Insurance.com)
  Check current lending rates at Bankrate
  Research your car (Edmunds, MSNAutos, or USAToday)
  For a used car, check its history at CarFax.com
  Visit online lenders at E-Loan and Capital One Finance

Prepare for the purchase

Even though many people now use the Internet to research auto information and prices, almost all buyers still go to a dealership to view and test drive cars and to do the actual buying. Dealers come in different varieties and it's safe to say that no two are alike. Therefore, no two experiences buying experiences are exactly alike, although they do have many similarities.

Whether it's a small operation or a large conglomerate, a full-service dealer or a no-haggle price dealer, the experience can be rewarding and stressful at the same time. Knowledge can make a tremendous amount of difference, not only in the deal you get but also in lowering your stress level. The more you know about the entire experience, the better you can deal with it. The intent here is arm you with information and strategies and show you what to be wary of from the moment you step on to the dealer's lot to the time you drive off in your brand new vehicle. Read the articles below to learn some of the things you need to watch out for during this buying process.

Other sources of information

  • CarBuyingTips is a good source to consult for advice on dealing with dealers and for updated information on new sales techniques you should be aware of.
  • The Federal Trade Commission enforces a number of laws pertaining to the sale of both new cars and used cars and offers advice on shopping and purchasing them as well.
  • When considering a large financial transaction with any dealer, you might want to contact your local consumer protection agency, state attorney general, and the Better Business Bureau to find out if any unresolved complaints are on file about a particular dealer.
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