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Top five tips on buying a new car

Salesman selling crappy carI generally advise against buying a new car because of the obvious depreciation of new cars. You lose hundreds (or thousands) of dollars just driving the car off the lot. That being said, I do own a new car and for those of you planning on buying one, it really boils down to a few things:

1) Know what you want and research it. Research your car. Research where you will get your car loan. I suggest a credit union.

2) Download my New Car Buying Price Calculator. For things such as the factory invoice price, those can be easily googled.

3) Stick to the calculator, do not let them say there are other necessary fees. There are not. I have bought two new cars in my relatively short lifespan and both times I have told them exactly what I will pay and both times I told them how much I would pay. They both resisted, I got up to walk out both times and both times they recanted and agreed.

4) Do NOT finance through the dealer. The guy in charge of finance will try to talk you into a billion different things. Say no to every single one. He makes his commission on longer warranties etc.

5) Research the internet for sites that give indepth looks at what to do. Here are some good links to read through:

Car Buying Tips

Edmunds (research)

Car Info

Smart Sense Car Buying Guide

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