Car Buying Advice

[lspst8]

My fiance and I are about to begin shopping for a car for him in the next week or two, and I could use some advice about where to begin. We want to spend around 10-12 thousand and have 3-4 thousand saved up for a down payment. We will be looking at used cars, and the only requirements are the vehicle must be automatic (I don't know how to drive a stick-shift and have NO desire to learn how) and it must have 4 doors.

I find car shopping extremely stressful and hate dealing with the salespeople. So, any tips to make this easier?

Also, this probably sounds dumb, but it looks like all the financial experts say to get financing before you enter the dealership. How does this work? Do I just go to my bank and see what interest rate they will give me? Are official papers drawn up before we've even picked out a car?

 

[ma2jr]

Find out if there are any incentives in your area re: Green cars, many are now offering a discount for those buying a new car

 

[prncess674]

Shop around online and/or your credit union/bank for a car loan. They will let you know how much you are approved for, which will help you know how much you can spend. When shopping around do not mention money or financing. Just say you will be paying cash. Do not say how much you can spend. If you let them know this info, your negotiations will magically come in just under your limit. Worry about getting the best deal based on research. You may end up spending less than expected if you find a great deal.

 

[BridgetBordeaux]

Research the possibler cars you want in Consumer Reports magazine or at their on line site (small fee). That can help you identify good cars, so so cars, and cars that stink.

They oftern spell out some cars that make good used cars in certain price ranges.

Be aware that the economy has caused some unusual things in the car market right now. Used car prices are high and new car prices are low. You just might find an economical new car that is only a little more and it might have a generous warranty plan.

Please do a lot of research in advance and talk to a bank or credit union in great detail so there are no surprises.

Good luck!

 

[deva]

You definitely need to go to edmunds.com and do your homework before you go to the dealer. Know what kind of car you want, where you can find it (some leverage if there are 15 for sale in your city), and what the true market value is so you can make a fair offer. If you need to finance you should at least see what local banks etc. are offering so that you have comparison to dealer financing (FYI used car rates are typically a bit higher than new).