8th From 10 Steps to Finding the Right Car for You

Step 8: How to test drive a car.

The goal of a test drive is to experience — as closely as possible — the same type of driving conditions the car will be used for after purchase. If you commute, drive the car in both stop-and-go traffic and at freeway speeds.

If you frequently drive into the mountains, try to find some steep grades to climb. Drive over bumps, take tight corners at aggressive (but not dangerous) speeds and test the brakes in a safe location, such as a deserted parking lot. Get in and out of the car several times and be sure to sit in the backseat, especially if you plan on carrying passengers.

In short, ask yourself what it will be like to live with this car for a number of years.

While you are evaluating the car, don't be distracted by the salesperson's pitch. Don't drive with the radio on — you can evaluate that later. A new car is a big investment; make sure you spend enough time really looking at it.

And then, consider one last thing: your intuition. If you are uneasy about this car, follow your instincts. A vehicle purchase decision is too important (and expensive) to undertake without total confidence.

By: Philip Reed, Senior Consumer Advice Editor
Article Source: Edmunds

7th From 10 Steps to Finding the Right Car for You

Step 7: Schedule an appointment for a test drive.

It's a good idea to make your initial contact with a dealership by phone before going there in person. This can give you some sense of the business atmosphere you will be dealing with throughout the buying or leasing process. Additionally, if you can establish a rapport with the Internet salesperson, it can boost your confidence before you visit the lot. Call the Internet department (sometimes also called the fleet department) and ask if the car you're looking for — in the right color and trim level — is actually on the lot.

You make your initial contact with the Internet manager either with an e-mail message or over the telephone. You can also send multiple dealer requests and narrow your search based on the tone of e-mail responses. If you called the Internet department, tell the salesperson that you want to set up a test drive — but that you won't be buying right away. However, assure them that you will buy there if you decide to purchase this particular make and model, and if they can offer the vehicle at a fair price.

Keep in mind that if you deal with the standard salesperson, he or she will try to start the negotiations at a high price with the expectation of being negotiated down. However, the Internet manager will often quote you a "rock-bottom" price as soon as negotiations begin. A few minutes taken to set up an appointment with the Internet manager can save you both time and money.

By: Philip Reed
Article Source: Edmunds

Tag: finding, right, finding car

Selling your car..

Whether you're looking to upscale, downscale or simply after a little extra cash, getting the most money when selling your car is a must. This video will show you how to do just that..



Tag: selling, selling your car

6th Step to Finding the Right Car for You

Research options.

By completing steps one through five, you should now have a good idea about what car will work for you. Maybe there are a few cars that fit your criteria. It's time to narrow it down.

Car buyers have been trained to visit local dealerships to find the car they want. In the Internet age, this is a waste of time and money. You can quickly cover more ground by shopping on-line. Car dealers are waking up to this new breed of shopper and have created Internet departments within their dealerships to serve the educated buyer who already knows what he wants and what he's willing to pay. The only thing you have to do in person are test drive the car and sign the contract. And in some cases, you can even have the car "delivered" to you by the salesperson.

Edmunds.com is your link to the automotive world. By reading our Web site you can not only educate yourself about cars, but also find local dealers, check interest rates for buying or leasing and calculate your exact monthly payment. Before ever heading out the door, you can answer almost any question you may have by searching Edmunds.com. Remember, you don't want to go to the dealership until you're really ready.

Tag: step, car, research, Philip Reed, right car

By: Philip Reed
Article Source: Edmunds

10 Steps to Finding the Right Car for You

Step 5: Have you considered all of the costs of ownership?

Here is an often overlooked fact of car ownership: one car might be cheaper to buy, but more expensive to own. Why? Even if two cars cost about the same to buy, one can depreciate at a different rate or cost significantly more to insure or maintain. Before you commit to one car, you should estimate the long-term ownership costs of the vehicle you are considering. These include depreciation, insurance, maintenance and fuel costs. The Edmunds.com Web site has a feature called Cost to Own, which presents this information in an easy-to-read table.

Another tool you should use is Edmunds.com's True Market Value (TMV®) pricing. By following the prompts you can find out what a fair price is for the car you are considering. The TMV price is the average price other buyers are paying for the same car in your area. TMV represents a good price for you and a fair price for the dealer.

By using TMV and TCO, you can make a smart decision up front and then save hundreds of dollars over the life of the car.

By Philip Reed, Senior Consumer Advice Editor
Article Source: Edmunds

10 Steps to Finding the Right Car for You

Step 4: Have you considered all vehicles in that class?

Today's new car (and truck) market is filled with great products. Most shoppers have difficulty keeping up with all of the vehicles manufacturers introduce and the changes they are making to their older vehicles, so it's important to do your research. Use Internet sites like Edmunds.com and Edmunds.com New Cars and Trucks Buyer's Guide to research all your choices before you hit the showrooms.

On Edmunds.com you can pick a specific car and bring up a list of similar cars in the same class. If you already have a car you are considering, this will be your starting point. Find the specific car you want on the web site by searching by Make, Type, Price Range or Market Segment. Once you have chosen your specific car, you will be on a Vehicle Detail page. This page has links to all the Car Pricing, Features, Reviews and Shopping options. Down the left hand side of the Vehicle Detail page there is a section called "Find a Related Vehicle" all of the links in this section help you to locate similar and competitive vehicles.

If, on the other hand, you have no idea where to begin you should might want to consult the Best Cars section of the site, or you can begin by searching by Make, Type, Price Range or Market Segment.

By Philip Reed, Senior Consumer Advice Editor
http://www.edmunds.com/advice/buying/articles/

10 Steps to Finding the Right Car for You

Step 3: Should you lease or buy your next car?

A lease requires little or no money up front and offers lower monthly payments. But when the lease ends you are left without a car and a need to replace it.

Buying a car is more expensive initially and the monthly payments are higher. But at the end of the loan, you will own a car you can still drive or sell.

Other key factors that differentiate leasing and buying include:

Advantages of Leasing

• You can drive a better car for less money
• You can drive a new car every few years
• No trade-in hassles at the end of the lease

Advantages of Buying

• When interest rates are low, it makes more financial sense to own a car rather than lease it
• No mileage penalty
• Increased flexibility — you can sell the car whenever you want

If you are still unsure whether to lease or buy, try letting the numbers help you make the right decision. Go to Edmunds Finance Calculators to calculate your monthly auto loan payment vs. your monthly lease payment.

By Philip Reed, Senior Consumer Advice Editor
http://www.edmunds.com/advice/buying/articles/

10 Steps to Finding the Right Car for You

Step 2: How much can you afford?

Regardless of whether you decide to buy or lease your next car, establishing a realistic monthly payment that will fit into your budget is a crucial first step. How much should this be?

A rule of thumb is your total monthly car payments — whether you own one car or more than one — shouldn't exceed 20 percent of your monthly take-home pay.

Check the Edmunds.com "Financial Calculators" to help you estimate what your monthly payment will be based on purchase price, down payment, interest rate and length of loan. Take the time to run the numbers now, before you go car shopping, print out the result and put this information into your car-buying folder. It will not only show you what you can afford, it will also help you control the numbers when you negotiate with a car salesman.

By Philip Reed, Senior Consumer Advice Editor
http://www.edmunds.com/advice/buying/articles/

10 Steps to Finding the Right Car for You

Step 1: What kind of car do you need?

If you examine your needs rather than wants, you will quickly discover what the right car is for you. Take a moment to think about what you use your car for. How many people do you need to transport? What kind of driving do you most often do? How long is your commute? Is it important that your next vehicle get good gas mileage?

In too many cases people choose a car because it has an eye-catching style or it is a trendy favorite. If you go in this direction, you may either break your budget or have to go car shopping again soon. Let your needs, not your wants, drive your decision.

Here are a few other questions to keep in mind when you begin your car-buying process:

Do you want a manual or automatic transmission?
Do you really need four-wheel drive? Or all-wheel drive?
What safety features do you want?
Do you require a lot of cargo-carrying capacity?
Will you be doing any towing?
Will the car easily fit in your garage or parking area?

By Philip Reed, Senior Consumer Advice Editor
http://www.edmunds.com/advice/buying/articles/

10 Steps to Selling Your Car

Step 10: After the Sale

In most states, the condition of a used car for sale is considered "as is" and no warranty is provided or implied. Therefore, if the car breaks down after you have sold it, you are under no obligation to refund the buyer's money or pay to have it repaired. If you have sold a car to someone who took it for inspection at a garage and the mechanic found nothing wrong with it, you have done all you can to protect yourself and the buyer.

The best way to feel peace of mind after selling your used car is to make sure you did everything correctly. This means being open about the condition of the car before the sale and timely and complete in transferring DMV paperwork after the sale.

When done correctly, selling a used car can be a win-win situation. You have turned your used car into cash and provided reliable transportation for the next owner. Focus on the benefits to both parties and you are likely to have a smooth and profitable experience.

By Philip Reed, Senior Consumer Advice Editor
Article Source: http://www.edmunds.com/advice/selling/articles/

10 Steps to Selling Your Car

Step 9: Finalize the Sale

Rules governing the sale of motor vehicles vary somewhat from state to state. Make sure you check with the department of motor vehicles (DMV) in your state, and keep in mind that much of the information is now available on DMV Web sites.

When selling your car, it's important to limit your liability. If someone drives away in the car you just sold, and they get into an accident, can you be held responsible? There are two ways to deal with this concern.

Once you have the money from the sale (it's customary to request either cash or a cashier's check), record the odometer reading and sign the car's title over to the buyer. In some states, the license plates go along with the car. A new title will be issued and mailed to the new owner. Additionally, in most states, a release of liability form can be downloaded from the DMV web site. Fill this out, along with the car's mileage, and mail it in as soon as the car is sold. This establishes the time at which the car left your possession.

But what if you still owe money on the car, and the bank is holding the title? One way to deal with this is to conclude the sale at the bank where the title is held. Call ahead and have the title ready. Then, once money has changed hands and the bank has been paid the balance of the loan, sign the title over to the buyer.

In some cases, however, an out-of-state bank might hold the title. In this instance, it is recommended that you go with the buyer to the DMV and get a temporary operating permit based on a bill of sale. Then, after you pay off the balance of the loan with the proceeds from the car sale, have the title mailed to the new owner. Sign it over to the new owner and the transaction is complete.

Finally, remember to contact your insurance agent to cancel your policy on the vehicle you have sold (or transfer the coverage to your new car).

Before your car drives away for the final time, take a last look through the glove compartment, the trunk and under the seats. You might find some long forgotten treasures you misplaced years ago.

By Philip Reed, Senior Consumer Advice Editor
Article Source: http://www.edmunds.com/advice/selling/articles/

10 Steps to Selling Your Car

Step 8: Handling Complications

In some cases, you might reach an agreement with a buyer that is contingent on performing repair work on the car. This can lead to misunderstandings down the line, so avoid this if you can. The best thing to do is have your car in good running order while being fully aware of any necessary repairs. If you state clearly in your ads that the car is being sold "as is," you can refer to this statement when it's time to close the deal.

Still, a trip to the prospective buyer's mechanic might turn up a new question about the car's condition. What to do?

This must be handled on a case-by-case basis. If the repair is needed, and you trust the mechanic's assessment, you could propose reducing the agreed-upon price by all, or part, of the amount for the repair. If the repair is questionable, but the buyer is insistent, split the difference, or have the car taken to your mechanic for further evaluation.

Remember, the older the car, the more a mechanic is likely to find. At some point, you have to draw the line. You may have to say to the buyer, "True, this work could be done. But the car drives well as it is. And the proposed repair isn't addressing a safety concern." After all, a used car — particularly an elderly one — isn't expected to be perfect.

By Philip Reed, Senior Consumer Advice Editor
Article Source: http://www.edmunds.com/advice/selling/articles/

10 Steps to Selling Your Car

Step 7: Negotiate For Your Best Price

If a person comes to look at the car and it passes their approval after a test-drive, you can expect them to make an offer. Most people are uncomfortable negotiating, so their opening offer might take several forms.

"I like the car, but…." This is the softest way to negotiate on the price. They may not even state that the price seems too high. If they say, "I like the car, but…" and then lapse into uncomfortable silence, you might consider an appropriate response. If you really want to move the car, you could say, "How much would you be willing to pay?"

"What's your best price?" This is a more direct way to probe the seller to find out how much he or she will come down. If you get this from a prospective buyer, don't seem too eager to reduce your price.

"Would you accept…?" Now we're getting somewhere. This buyer has thought it over and is making an offer. But the offer is being presented in a polite manner designed to allow for a counter offer.

"Take it or leave it." This buyer is making an offer that supposedly leaves no room for a counter offer. In reality, this buyer might be bluffing. Still, they are sending a message that they are close to their final price. The only way to know for sure whether it really is a "take it or leave it" offer is to leave it — and let them leave. They may return tomorrow ready to pay your price.

The above are just a few of the openers you might encounter. Think of your responses ahead of time so you won't be caught unprepared. In general, it's a good idea to hold to your price when your car first goes up for sale. If you don't get any buyers right away, you'll know you have to be flexible about the price.

By Philip Reed, Senior Consumer Advice Editor
Article Source: http://www.edmunds.com/advice/selling/articles/

10 Steps to Selling Your Car

Step 6: Showing Your Car

Keep in mind that when you sell your car, people will also be evaluating you. They will be thinking something like, "Here's the person who's owned this car for the past few years. Do I trust him/her?" Make the buyers feel comfortable. They will probably be uneasy about making a big decision and spending money. Put them at ease and answer their questions openly.

Potential buyers will want to test-drive the car. If in doubt, check to make sure they have a driver license. Ride along with them so you can answer any questions about the car's history and performance. Also, they may not know the area, so you might have to guide them.

There are many unexpected bumps in the road that can arise while selling a used car. These will be handled easily if you are dealing with a reasonable person. So, as you are contacted by prospective buyers, use your intuition to evaluate them. If they seem difficult, pushy or even shady, wait for another buyer. With the right person, selling a used car should be simple.

Some sellers feel uncomfortable about having buyers come to their house to see the car. However, you can generally screen buyers on the phone. If they sound suspicious, don't do business with them. If you don't want people knowing where you live, arrange to show the car at a park or shopping center near your home. However, keep in mind that people will eventually see your address when you sign the title over to them.

Some buyers will want to take the car to a mechanic to have it inspected. If you have an inspection report from your mechanic, this might put their doubts to rest. However, if they still want to take the car to their mechanic, this is a reasonable request. By now, you should have a feeling for the person's trustworthiness. If you feel uncomfortable or have reason to think they will steal the car, decline the offer or go along with them.

Be ready for trick questions such as, "So, what's really wrong with the car?" If you get this, refer them to the mechanic's report or invite them to look over the car more carefully.

By Philip Reed, Senior Consumer Advice Editor
Article Source: http://www.edmunds.com/advice/selling/articles/

10 Steps to Selling a New Car

Step 5: Create Ads That Sell

When creating "For Sale" signs or putting a classified ad in the paper, you have an opportunity to show how eager you are to sell the car. This can be done by inserting the following abbreviations and phrases:

Must Sell!: This often means the seller is leaving town and needs to dump the car at a fire sale price.

OBO: This stands for "or best offer" and it indicates that you are willing to entertain offers below the stated price. This usually means you are eager to sell the car.

Asking price: This also communicates the feeling that you will negotiate, but it is one notch below OBO on the eagerness scale.

Firm: This word is used to rebuff attempts to negotiate. It indicates that you aren't in a hurry to sell the car — you are most interested in getting your price.
Think about what you are telling people when you phrase your ad. Little words convey a lot. Besides the price, your ad should also include the year, make, model and trim level of the car you are selling along with the mileage, color, condition and popular options.

By Philip Reed, Senior Consumer Advice Editor
Article Source:http://www.edmunds.com/advice/selling/articles/