Time to Buy a New Car---HELP!!!!!!!

[globe9]

I need to buy a new car and I have the make and model chosen after much research and consumer reports....I am just terrified of going into the dealership this Saturday and getting ripped off basically.This is the first time I'VE had to buy my own car. How do I know how much I should pay for the car? MSRP is about 22k. I am putting about 40% down, trying to keep the notes fairly low(less than $300 hopefully), should I use the dealership for financing or get my own? Should I even mention financing or wait till we've settled on price of car? Someone told me to lie and say I'm paying cash cause they'll give me a better deal, then when I get the deal tell them I'm financing....once they've given me a deal they can't take it back b/c they find out I'm financing. Is this true or even a good idea? Are car salesmen still sleazy LOL I've got this image in my head, but maybe the times have changed and it's not so bad anymore? I just know it scares me

[Schuarta]

I need to buy a new car and I have the make and model chosen after much research and consumer reports.... I just know it scares me

I trust your giving Toyota a pass this time!

[Titchou]

If you are intent on a new car, have financing arranged elsewhere but tell the dealer it's a cash deal. As far as they are concerned, it is like that. Then once you make the deal offhandedley ask what they could do on financing. You will get a better deal that way. Since you've read Consumer Reports I assume you gotten the pricing information they provide. Don't budge from that information. It worked for me the last new car I bought.

That being said, I wouldn't buy a new one. Look for a program car. You'll get a much, much better deal.

[EatinAintCheatin]

You might be interested in trying to buy through an internet site. I did this when I bought my truck (though it was in '99). I used autobytel.com, which is still up and running. It offers some solid advice too.

Basically, you define the make, model and options you want and it sends a notice to the dealerships. Then you can let them bid out the price.

The best part is that you don't do much talking to the salesman.

[RouxTheDay]

Consider using a home equity loan/line of credit to finance your vehicle. I do it and claim the interest at tax time.

I'm on my 5th Toyota, btw.

[peychaud]

If you visit Edmunds.com, you can enter the specifications of the car you're thinking of and get a "TMV" price, which corresponds to the average of what consumers are paying in this specific area. You can use that number as a benchmark. Next send an email to the Internet sales manager of a dealership with exactly what you're looking for and ask for his best price. Once you get a reply, send an e-mail to the next dealership with the price you got previously and ask if they can beat it. Repeat. If you go to the dealership to see the car and they try to charge you more or tell you the car you wanted isn't available, be prepared to walk.

[wish I never left]

You should run some ads for the dealer and I'm sure you'll get a sweet deal!

[Backstrap]

If you visit Edmunds.com, you can enter the specifications of the car you're thinking of and get a "TMV" price, which corresponds to the average of what consumers are paying in this specific area. You can use that number as a benchmark. Next send an email to the Internet sales manager of a dealership with exactly what you're looking for and ask for his best price. Once you get a reply, send an e-mail to the next dealership with the price you got previously and ask if they can beat it. Repeat. If you go to the dealership to see the car and they try to charge you more or tell you the car you wanted isn't available, be prepared to walk.

Ditto Edmunds. Have used it with every car I've bought in the last few years. They're accurate and don't let the dealer tell you different. Never, ever pay more than the TMV even if you're on the lot. Actually, I've negotiated less than the TMV every time. Just be patient to play the game.

[Oyster]

Just a reminder...when you pay cash, you get a friendly letter from the dealer a week later that they had to let the Feds know that you paid cash (over $10K) for the car.

What a country. Big Brother is HERE!

[Jeeves]

Just a reminder...when you pay cash, you get a friendly letter from the dealer a week later that they had to let the Feds know that you paid cash (over $10K) for the car.

What a country. Big Brother is HERE!

I didn't! I just paid cash for a Honda Insight. BTW, we got over 51 MPG on our day ride today. http://www.ladayrides.com/viewtopic.php?f=6&t=766