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Originally Posted by Schneed10
Nice post, I'm with you, especially on the bolded part.
I think to sum it all up, it's safe to say that the way to go about buying a car would be:
1) Figure out what kind of features are important to you (safety, performance, styling, reliability, price, cost of maintenance, gas mileage, etc.). This helps you narrow your search to certain classes and models.
2) Take in data from Consumer Reports, JD Power, Motor Trend, and any other pertinent data you can find. If you're looking at a used 2002 model though, make sure you find ratings for the 2002 model. Don't read a rating on the 2006 and assume it applies. And if you're looking for a used model, find a used car rating for it. The new car rating that came out on the 2002 model will not apply as well as a used car rating written in 2006. This research helps you narrow your focus to a few models.
3) Test drive a couple and compare how they feel. If you're a performance guy like PSU, place more emphasis on Test Driving than on the research. If you're like me and don't care much about how the car looks or feels, place the emphasis on the research.
4) Find market pricing data. Look on the internet for dealer invoice prices for each model you like. Expect to pay 200-500 above invoice. This gives you a better feel for guaging prices than comparing sticker price.
5) Buy at the end of the calendar month. Dealers look to move cars faster at the end of the month to push the sales onto their books for the month. Buying at the end of a quarter, or best yet, near the end of a model year (July-August) gives you more negotiating power.
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I am in 100% agreement with this. And as to #4, I would recommend Kelly Blue Book (
www.kbb.com). I just used them to get the fair value on my trade in and to know the general invoice price on the car before I even walked through the door. I got a great deal by pretty much printing everything out and saying "I know what the heck I'm talking about, here it is, either make it happen or I walk". It cut out at least two or three rounds of waiting while the guy goes to his manager, comes back, goes back to his manager, comes back, goes back again, comes back and claims he's not making any money on the car, goes back again........