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Finances Research Before Buying a New Car Name the thing you hate to do the most. Think hard. What is that one chore you dread performing? If you're like most people, including me, that event would be "buying a car." From the moment I drive into a car lot to the final signature on the deed, I get this awful feeling in my gut. If only there was an easier way. Guess what, there is! The Internet has now made this loathsome task somewhat less dreadful by allowing you to do a lot of auto research in complete anonymity. Do your research in cyberspace! Have you ever noticed that the second you set foot onto a car lot, it's almost as if blood were spilled into a pool of sharks? One of the salesmen breaks away from the pack and starts stalking you, weaving his way amongst the lines of cars, eventually cornering you and asking how much you want to pay per month. (Did I tell you I hate going to the car lot?) When you decide that the time is right to purchase a new form of transportation, instead of driving to the nearest dealership, fire up your computer! A bevy of great sites await the curious consumer. Need a Previously Owned Vehicle? Check the Blue Book! The makers of the most popular "blue book of used car prices" are now on the Internet. Kelly Blue Book Services (http://www.kbb.com) are accessible in their entirety. You simply enter the year, make, and model of your vehicle (plus a few other little extras), and it gives you the price that someone might ask for it. Speaking of the Kelly Blue Book service, check out their "New Car Pricing" guide. Here, you can find reports with specs, photos, invoice prices and the MSRP (manufacturer's suggested retail price). If you do happen to find a great used car, before you sign on the dotted line, go to CarFax (http://www.carfax.com). This site allows you to do a "lemon check." You simply enter the VIN (vehicle identification number) found on most dashboards and it tells you if the vehicle has been in any major accidents or experienced flood damage. They'll charge you $14.95, but that's a small price to pay to avoid a "lemon." But maybe you're in the market for a new car. Check out my three favorite sites: Autobytel, CarPoint, and Auto Trader. Autobytel is by far the most recognized name in online car selling. It's methodology is really quite simple. You tell it what kind of car you are looking for, and they submit your request to vendors all over the nation asking for "their lowest price." In a sense, it's like shopping the whole U.S. for the best bargain on a car. Now, once you've got that information, you can do two things: Actually buy the car from the lowest price dealer, OR (what most of my friends do), take those numbers to a local dealer and ask him to match it. I had a friend save thousands off of a new truck using this tactic. Carpoint (http://www.carpoint.com) is owned and run by Microsoft. Full of useful information, this site allows you to search through the myriads of auto options at your own pace. No pressure! In addition, you can even set up your own "Personal Car Page." This page will update you when a recall is sent or if someone is interested in buying it. Auto Trader (http://www.autotrader.com) has a lot of tools that will aid the prospective car buyer: everything from loan calculators to new car checklists. Of course, their two million plus listings are also worth checking out. Don't get me wrong. I don't hate car SALESMEN. I understand that they need to make money, but if I can buy the same car somewhere else cheaper I will. I predict that as more and more people do their car research on the Net, fewer "lot games" will be played by unethical salespeople. See you in Cyberspace! Eric Spellmann is the owner of Spellmann & Associates, a corporate technology training facility in Amarillo, Texas. Besides his weekly column, he produces technology segments for his local CBS television affiliate and speaks at numerous conferences. If you would like to receive the full transcripts of his columns as well as the television segments he produces for CBS, sign up for his FREE e-mail newsletter by sending a blank message to NL@ERICSPELLMANN.COM with SUBSCRIBE in the subject. Or, you can sign up at his website: http://www.EricSpellmann.com. Have a great day! Eric Spellmann, Owner |
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