Buying A Vehicle Online Can Be A Breeze

Story by Nick Cumberland

Buying a new car is always exciting but the process of negotiating the price and sitting across from the finance guy can be an unnerving at best. There are ways to lessen the stress, and give you more control when you make the decision to visit a dealership.
Before you leave home, educate yourself and do some research – Go online and take the time to learn about the different models you are interested in, you can get all the information about any vehicle there.. A site we like very much is www.edmunds.com where you can review the myriad of cars that are available today. Consider your needs and budget (including gas and insurance) in order to find the right model and size that best suits your needs. The bottom line is of course, what vehicle fits best into your financial picture. Also, take the time to compare a few vehicles in the same class, review all the options that seem to be the best choices for you.
When you feel that you are well informed and know what you want, it is time to take the next step of shopping around. Always take a test-drive before you make a decision. You may think you have chosen the perfect vehicle, but the test drive may be the deal breaker. How comfortable is the ride? Do you have the leg and head room that you and your family need? How does the engine sound, and how responsive is the vehicle on turns and braking? Don't feel rushed, take your time and make plenty of notes as you check out each vehicle from stem to stern. You owe it to yourself to be an educated consumer, because only then can you make your best deal.
After you test drive the vehicles and check sticker prices, think about what features are most important to you and what you can pass up. Check out the web one more time. You can get an estimate of the dealer’s invoice price (his cost) as well as the True Market Value (TMV), which is the local average cost of that vehicle. If you can beat the TMV, you know you are going to negotiate a good deal.
It is a good idea to order a cost report at www.ConsumerReports.org. (Cost: $12) This information will verify the Edmunds data and also reveal any dealer incentives (rebates that the manufacturer pays the dealers to sell a car). For example, if the dealer receives $500 rebate for selling the car, his cost is $500 less than the listed invoice price.
Line up potential dealers - Search the web for dealerships in your area. The best way to locate them is to go to www.google.com and search for the car model (i.e. “Chevrolet”), your city (i.e. “Nashville Tennessee”) and the word “dealership”. This should give you a choice of several options. Record an e-mail address for each one. Get at least four to six of them within a 100-mile radius of your home.
Personally send each dealer an e-mail - Use a standard e-mail to introduce yourself, and list what you are interested in – be very specific! Request that they respond with their best offer. Advise the sales rep that you are talking with various dealerships and are very eager to purchase the car. Right now, automobile sales are way down due to the economy, and there are many interesting incentives out there. Note! Never say what you can pay per month – that should have no bearing on negotiating a price for a vehicle. Many factors must be considered, but that is not one of them. In some instances, you could actually pay more!
Even online, there will be some posturing and wheeling and dealing. Stand your ground and when you feel the time is right, make it clear as to the price you are willing to pay.
It makes good business sense to inform the sales associate that you have done your homework. them know that you are aware of their costs (including incentives), and offer them a price that will be fair to them, but best for you. (with incentives added in). Most dealers will be willing to work with you, especially if it’s at the end of a month and they need to achieve their sales quota.
As you near an agreement price, be careful that hidden extras do not come into play, be very sure that everything is crystal clear for both the sales associate and yourself.
You can actually finalize the deal, and lock in your purchase price before physically going to the dealership. Print out your communications with the sales associate and bring them to your closing to insure you get the price that was agreed upon.