| Women make up the larger part of the population | | | | value', NOT 'selling privately'. and here's the reason |
| that purchase cars on their own. And, whether | | | | for this. Whenever you trade a car in at a |
| you're going with your boyfriend, your husband or | | | | dealership, that dealership is going to offer you |
| your dad, the fact is that more than 80% of the | | | | the least amount they can in order to maximize |
| time, the female makes the final decision, even if | | | | their turn-around profit. In most states, they're |
| the car is not for her. These are FACTS. It is to | | | | required by law to run those cars through the |
| your advantage to know other facts when going | | | | service department to make sure the car meets |
| to a dealership to buy a car. Armed with said | | | | minimal state requirements for reselling. This costs |
| facts, you'll be able to make your experience less | | | | the dealership money, so they take that into |
| dreadful and you'll come away with the car you | | | | consideration when making their offer to you for |
| want at a good price without having to spend 8 | | | | the trade-in value. Also, if the trade-in has more |
| hours trying to do it. I know. I used to work in | | | | than 60K miles, it's value is drastically reduced |
| the business and saw all the tactics that 'old | | | | because the dealership can't offer any warranty |
| school' car dealers (and their employees) utilize to | | | | on it when they try to resell. In short, it's likely |
| intimidate women buyers. Sadly for them, they | | | | that your trade-in is going to be sold to an auction |
| never got the concept that women are NOT as | | | | (that's where those little, privately owned car lots |
| stupid OR helpless as they may have been in | | | | get their cars) and the dealer isn't likely to make |
| another era. Again, this is most definitely to your | | | | any profit on it. Hence, their ridiculously low |
| advantage. | | | | trade-in offer. |
| Before I go further, I think it's important to tell | | | | If you want to get the most for your old car, |
| you WHY I opted to sell cars. After all, most | | | | you're better off selling it yourself. It's not nearly |
| people are about as fond of car salesmen as they | | | | as convenient as trading it in, but you're most |
| are of sticking cactus under their fingernails. So | | | | likely to get the most for it if you do it yourself. |
| why would anyone WANT to sell cars? Well, I | | | | If that's not something you want to contend with, |
| was sick and tired of watching my sisters, friends | | | | then get all your information gathered about what |
| and various other gals get ripped off. And I was | | | | you can get fro a trade and don't say a word |
| certain that I could do a better job than most of | | | | about it to the salesman until AFTER you've |
| the bozos I'd seen on various lots, using those | | | | negotiated your price on the new car. Keep the |
| tired old 'slick' lines and laughing all the way to the | | | | trade-in out of the equation to secure your new |
| bank. You could say that I was on a mission. I | | | | car price. It'll minimize even more 'negotiating'. |
| spent 4 years selling cars, quite successfully I | | | | AT THE DEALERSHIP: |
| might add, and only quit the business because it | | | | So now you've got all your information gathered |
| was apparent to me that I was NOT going to | | | | and you've made your decision as to which car |
| change the way business was done. The Old | | | | you're going to buy. You've also figured out |
| School Boys Club was firmly entrenched and I | | | | where you're going to get your financing and the |
| wasn't going to change that. What I did change, | | | | value of your trade-in. You're ready to buy your |
| however, is how all the women I know now buy | | | | new car. |
| their cars. In other words, I learned the business | | | | Before you drive onto the lot, you must have the |
| and can now use that knowledge to help others. | | | | following decisions made: |
| It's an awesome feeling and the time I spent was | | | | Your Down Payment (the MOST you're willing to |
| well worth the payoff. To that end, I shall share | | | | put down on the car) |
| what I learned in an effort to help YOU make the | | | | Your Monthly Payment (not a penny more) |
| car-buying experience a bit less dreadful. | | | | Your Trade-In Value (the least you're willing to |
| DO YOUR HOMEWORK: | | | | accept) |
| There is a wealth of information on the Internet | | | | Your Credit Score (if you're financing through the |
| that can assist in your process and limit the | | | | dealership) Go in and ask to speak to the new car |
| amount of time you need to spend at the | | | | (or used car) sales manager. Tell him/her what |
| dealership. Such resources as Edmunds and kbb | | | | car you're going to buy. Drive the car one more |
| (Kelly Blue Book) will give you exact prices on | | | | time to be sure it's 'the one'. Once you've |
| both retail and dealer costs, as well as reviews on | | | | returned from your test drive, they're likely going |
| the vehicle in question. is great for reviewing used | | | | to sit you down at some desk and begin the |
| cars, Edmunds is both new and used cars. You | | | | whole 'negotiating' process with what's called a |
| can also get help from Costco if you happen to | | | | '4-square'. This is where you'll be asked to fill in |
| be a member. They have a pretty awesome | | | | your information (including your SS number). DO |
| buyers plan that allows you to know before you | | | | NOT fill in your SS number until you've got the |
| get to the dealership what price you'll pay for the | | | | deal you want. Because the moment they have |
| vehicle you've chosen. This eliminates all the | | | | that number, the salesman or the manager is |
| 'haggling' nonsense. Most dealerships that allow | | | | going to run your credit. If you already know |
| Costco deals have one salesman who works with | | | | your credit score (which you should, if you've |
| those customers and you can even schedule an | | | | done your homework), they don't need to do this |
| appointment to minimize the time you're there. | | | | just yet. As soon as you're done filling in your |
| It's quite handy. If you don't happen to be a | | | | information, they're going to disappear into |
| Costco member, you can still arrange things in | | | | another office and start with their highest |
| advance by doing your research about the car | | | | numbers. The moment they return to the table, |
| you want and then calling the dealership to make | | | | take that 4 square out of his hands (he is NOT |
| an appointment with their Internet Sales person. | | | | going to want you to do this, as this is his 'control' |
| But we're getting a bit ahead of ourselves. | | | | document...they actually teach you this when |
| First, figure out what you want. If you're deciding | | | | you're new to the car business!) But, grab the |
| between a few different vehicles, set aside a | | | | paper and cross out everything they've written |
| couple of hours during the week (if possible) to go | | | | down, replacing each number with YOUR numbers. |
| to each respective dealership to test-drive the | | | | These numbers will include price of the car, down |
| various models. I suggest week days as opposed | | | | payment and monthly payment. (the 4th square |
| to weekends because there's typically less traffic | | | | is for the trade-in, which you're not getting into |
| at the dealerships during the week and you can | | | | just yet)Tell the salesman or manager that this is |
| get in and out pretty quickly. Depending on the | | | | your 'final offer' and you've got 45 minutes |
| state in which you live, it may be required for you | | | | before you'll be leaving the dealership. Check your |
| to hand over your driver's license so they can | | | | watch and make a note of it on the 4 square. |
| make a photocopy of it. Some states actually | | | | They may try to tell you that you can't buy a |
| require the dealership to have your license on file | | | | car in 45 minutes, and I'm telling you that YOU |
| (insurance liability, etc) so you have to allow them | | | | CAN. I've done it more than a dozen times with |
| to do this. You can check with your local DMV | | | | various friends/family and it is totally possible to |
| about your state's laws. If you must allow them | | | | buy a car in that amount of time IF you've done |
| to photocopy it, GO WITH THE SALESPERSON | | | | your homework and have all your ducks in a row. |
| when he does this. Why? Because I've seen more | | | | At this point you're going to have nerves of steel |
| than one knucklehead manager try to keep the | | | | because it's likely all the 'tactics' are going to |
| license in his possession in an attempt to keep the | | | | appear. DO NOT BE SWAYED. Stick to your guns |
| buyer in the dealership. As stupid as this sounds, | | | | and tell them this is it. PERIOD. If there's anyone |
| I've seen it happen. | | | | in charge who's got half a brain, you're going to |
| So, you've driven the cars you are considering | | | | be signing paperwork in 15 minutes or so. If not, |
| and narrowed it down to 2. Next step is to see | | | | stick to your plan and LEAVE. If you're making a |
| which car is going to be the better value. Go to | | | | reasonable offer, they're going to make the deal. |
| Edmunds and research each vehicle. Get the | | | | If not, you'll know soon enough. By 'reasonable |
| MSRPs as well as the dealer's invoice price. You | | | | offer' what I mean is an offer that is above their |
| can also use their calculator to estimate what | | | | invoice cost (they are entitled to make a profit. |
| your monthly payment will be. It's a good idea to | | | | That's what they're in business for!)but not so |
| know your credit rating beforehand, so you'll | | | | high that they're taking your head off in their |
| know what kind of interest rate you'll qualify for. | | | | profit. Once they've agreed to your offer, THEN |
| At this point you can plug in all your numbers, | | | | you can tell them that you'll be trading in your old |
| from how much of a down-payment you'll have | | | | car. Don't be surprised if this is met with great |
| to the length of the term and figure out if it's | | | | agitation. They really hate when people do this. |
| doable. You can also go directly to the | | | | But, again, don't expect to get top dollar for your |
| manufacturer sites to see if they have any | | | | trade, especially if you've just negotiated the deal |
| special deals going on (offered by the | | | | you want. They're going to make an offer and |
| manufacturer, not the dealership) and plug these | | | | then it's u[p to you to decide if it's worth your |
| numbers in as well. | | | | time to trade-in or sell on your own. |
| FINANCING OPTIONS: | | | | IN A NUTSHELL: |
| Depending on what kind of offers the | | | | The bottom line is this: go armed with information. |
| manufacturer has, you may wish to finance your | | | | KNOW what you will or won't pay. And keep an |
| vehicle elsewhere and bypass the entire dealership | | | | eye on the time. It's not impossible to get the |
| finance department. More often than not, they're | | | | deal you want with little effort or time spent. You |
| going to try to charge you a percent or 2 over | | | | just have to know what you're talking about and |
| what you actually qualify for. They make money | | | | stick to your guns. One more thing: |
| on this, so they'll do their best to jack up the rate. | | | | Depending on your location (4 season climate or |
| If you go to your credit union or other financial | | | | not), there are certain months when you're going |
| institution beforehand, you'll be able to get the | | | | to have an added advantage. In the 4 years I |
| best possible rate and, again, spend less time at | | | | sold cars, I found that November through the end |
| the dealership. When I bought my last truck, I | | | | of February were much leaner (in sales) than the |
| went through my credit union and got a rate that | | | | rest of the year. Also, the end of the month |
| was 5% less than the dealership offered. That's a | | | | (whatever month) because dealerships have |
| HUGE difference in your total cost, so don't | | | | quotas and they're more likely to take any deal in |
| underestimate what you may be able to find. | | | | order to meet those quotas. Summer is probably |
| TRADE-INS: | | | | the busiest for dealerships, so if you can avoid |
| If you're planning on trading in your old car, the | | | | shopping during the summer and wait til late |
| best thing you can do is to get the value of that | | | | October or November, it may help you even |
| car on KBB. You'll need to look under 'trade-in | | | | more. |