Things I've Learned About Buying a Car

I have purchased a variety of different cars over the years. A couple brand new ones, some a couple of years old, and a bunch of much older ones. Along the way I have learned some things which I will pass on, hoping you don't make the same mistakes I have.

1. Don't buy the sheet metal. Ya, it might look fantastic, but if it's junk under the body design you are in for a world of trouble.

2. If you are only going to keep it for a couple of years, buy a used one. The first few years of depreciation are killers. If you trade often, buying a one or two year old model with low mileage will give you most of the current technology benefits and allow the former owner to eat the depreciation.

3. If you are going to keep it for a long time, a new car makes sense. You get all of the benefits, and as the years roll by, the depreciation levels out each year. I'm still driving a 1994 Camry we purchased new.

4. Lease vs. buy. The advantage changes based on the lease rates which can change dramatically from year to year. So what was a good deal one year may not be the best the next. Consumer's Reports have good articles on how to figure out the comparisions.

5. Don't buy the aftermarket "goodies" the dealer wants to sell you. You don't need, rust preventive, upholstery protection sprays and the like. It's just extra money from your pocket to theirs.

6. No opinion on extended warranties except don't buy them from a third party. Lot's of news about how you can't collect when something goes wrong.

7. Go prepared to negotiate. Buy reports (i.e. Consumers Reports or others) which list the actual costs of the dealer. Then negotiate up from there. Don't start with the asking price and negotiate down.

8. It never hurts to ask for something extra when the deal is almost done. Ya you really need better floor mats, or free service, or what ever. When they can taste the deal, you have more leverage.

9. Compare the features/cost with the top of the line model trim and the one below it. Sometimes one or the other will be the better deal.

10. Be prepared to walk away from a poor deal. This is the strongest bargaining chip you have. Vote with your feet.

Comments or E-mail me


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