3 On Your Side: Do’s & Don’ts When Negotiating With A Car Dealer
By Jim Donovan
PHILADELPHIA (CBS) — It’s the time of year when the latest and greatest from auto manufacturers start to hit the road. If you’re in the market for some brand new wheels, 3 On Your Side Consumer Reporter Jim Donovan has some Do’s and Dont’s to keep in mind when negotiating with a dealer.
Navigating the auto buying process can be tricky, especially if you only do it once every few years.
So Consumer Reports recommends doing research before heading to the dealership:
– Do identify the model, trim level and options that you want.
– Do get a good idea of what a good price is.
– Do round up quotes from a selection of dealers, and pinpoint the one that looks most promising
– Do get pre-approved for an auto loan or if you’ll finance through the dealer have a good idea of competitive interest rates.
At the dealership:
– Don’t buy unnecessary extras. Sometimes they’ll be pre-printed on a sales contract, so read carefully.
– Don’t jump at the extended warranty. Know the vehicle’s reliability record and decide whether it’s necessary.
– Do bring a calculator to do your own math – and make sure the dealer’s numbers match.
– Do be prepared to walk out. Consumer Reports says that showing a willingness to walk away can be effective in getting the deal — and the wheels — you really want.
If you’re in the market for a used vehicle, the auto experts at Edmunds.com have released their best picks for used cars, seventeen models dating from 2006 through 2011. To check out the list visit: