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HOW TO buy a CAR Presented by c l i c k t h i s b u tt o n to see the full infographic RESEARCH Visit multiple dealerships and play them of one another. JON’S DEALERSH IP Don’t be looking to buy the first time you go to a dealership. Tell dealers you’re just looking and don’t let them talk you into anything. Go to the dealership when it’s closed so you can roam with no pressure. JANE’ S DEALERS HIP Take notes on what you like, then return home and do some serious research. 31 Now you’ll know MSRP and how long the car has been on the lot; if it’s been more than a month, they’ll be more eager to get rid of it. Get the original invoice Find out what the dealer paid for the vehicle TO P 10 B E S T -S E L L I N G C A R M O D E L S W O R L D W I D E i n 2012 http://www.usatoday.com/story/money/cars/2013/04/09/most-popular-car-ford-focus-fiesta-honda-civic-toyota-camry/2066187/ WULING ZHIGU ANG 767,000 TOY O TA C O R O L L A 872,000 F O R d F -S E R I E S 786,000 TOY O TA C A M R Y 730,000 Honda C r v 625,000 Chevrolet cruze 661,000 Honda Civic 651,000 FORD F I E S TA 723,000 VW GOLF 699,000 FORD FOC US 1,020,00 0 set up yo u r lo a n in advance. Compare interest rates and get pre-approved. In the past 65 years, there have been 17,0 0 0 f r a n c h i s e d n e w -c a r dealerships per year 1949 had the highest surge of new dealerships at 49,20 0 d e a l e r s h i p s n e g o tiat i n g s at Don't bother negotiating when the dealership is busy, like on a Saturday. Go later in the night at the end of the month or quarter. Negotiate the last 2 weeks of the year. Dealers are most desperate for sales because they have to pay taxes on cars left on the lot after the New Year. If you are a cash client, don’t mention it until after you have agreed on price. The dealer will have more room to drop the price with the idea of making some back in financing. h o w t o c a l c u l ate a reasonable price fo r a c a r Subtract dealer incentives and holdback from the invoice price and offer 5 percent over that. T H E B O T TOM L I N E Explain that you have a target price (reasonably based of of research) and that you will be available when they meet you there. Politely refuse counter offers and leave a phone number. Find out dealer holdback incentives or manufacturer reimbursements. Know beforehand the fees you will be assessed at close. Don’t take a car home for the night. close Say no to fees. Administrative fees are negotiable, but you shouldn’t pay for floor plan fees or inventory space. Bring a calculator to know the price of add-ons you want beforehand. You can save $200 to $300 when you buy an Extended Car Warranty before your current warranty expires. http://www.mycarstats.com/Content/car_warranty.asp Be p r e pa r e d t o w a l k o u t if you don't get the price you want. C l i c k H e r e To A p p l y F o r A C a r L o a n O r A u t o R e fi n a n c e click here Sources: http://www.bankrate.com/finance/auto/4-tips-for-negotiating-a-new-car-price.aspx | http://editorial.autos.msn.com/10-tips-for -regret-free-car-buying http://www.nada.org/Publications/NADADATA/historical_dealer_count.htm | http://www.consumerrepo rts.org/cro/cars/buying-advice/index.htm http://www.statista.com/statistics/239229/most-sold-car-models-worldwide/ | http:// www.edmunds.com/car-buying/10-steps-to-buying-a-new-car.html http://www.autotrader.com/research/article/car -tips/211343/buying-a-new-car-whens-the-best-time.jsp http://askville.amazon.com/real-dealer-invoice-price-automobiles/AnswerViewer.do?requestId=4664399 | http://www.usatoday.com/story/money/cars/2013/10/23/bes t-time-to-buy-a-new-car/3170251/ http://www.cnn.com/2008/LIVING/wayoflife/08/20/aa.car.buying.tactics/index.html?_s=PM:LIVING | http://www.bankrate.com/financ e/auto/4-tips-for-negotiating-a-new-car-price.aspx