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How do I buy a new car from a dealership?

I actually bought a new car back in Nov. ’02. Mits. Lancer ’03. Well, I regret that. I got totally ripped off. I am still paying for that car plus I have a balloon payment (the interest) coming up in Nov. ’07. I know I’m going to be needing a new car soon. I am giving myself some extra time before I buy so I can make the right decision. I narrowed my choices to 2 cars: MINI Cooper/ Toyota Matrix. I ask: How can I haggle prices down? How can I find out what are the taxes in my area? How can get a great loan with my bank? I think I have excellent or almost excellent credit. What advice can you guys give me? (The reason why I’m getting a new car is because my boyfriend is going to be using my Mits. He had to sell his car when we moved. We are both young and need some wise advice.
I can’t ask my parents for advice because they are dead.

I’m not going to get a used car because I’m going to look stupid driving a shite box.

Yes I can afford two car payments. Otherwise, I wouldn’t be asking for advice.

My boyfriend bought us a condo with both of are names on it. He’s done a lot for me, so the least I can do is let him use his car since he sold his car so the move could be easier.

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7 Responses to “How do I buy a new car from a dealership?”

  1. sheeny said :

    Can you ask your parents for their advice?

  2. CoCo N said :

    don’t buy a new car, try a used one, its much cheaper, and it doesn’t even have to be an old one buy like one or two year old car. because the depretiation is really BIG and your just wasting money with a dealer

  3. TD said :

    Everyone who buys a car, esp. from a dealerships gets ripped off.

  4. Bet said :

    If you are still paying for your Mits and have a balloon payment coming up, I don’t think it’s a good idea to buy another car at this point??? Can you afford both car payment? Maybe better to let your boyfriend buy his own car instead of you letting him use your car.

    Interest rate is still very low right now. I am sure you can get a good loan, just don’t get one with adjustable interest or balloon payment anymore.

  5. take_me_to_the_beach said :

    Based on my prior experiences, I would only buy a new car from a dealer IF:

    1) I bought it at a newspaper ad price.

    2) Bought it via online.

    When I bought my first new car I bought it at BELOW dealer invoice. In short, I paid less for the car than the dealer supposedly did. (A few thousand dollars below retail price). This car was one of a handful of cars that were mentioned in my local newspaper. These are brand new cars and only a limited number of cars are at “ad” price. Again, these prices tend to be BELOW dealer price. This is often the best deal in my opinion. You also do NOT have to haggle!! The price is firm.

    When I bought my second new car I bought it AT dealer invoice. This car was purchased online via a local dealer’s “internet department.” I did not have to haggle for this car either. The price was firm. It wasn’t as low as an “ad” price. But, this car (an Accord couple) was never on “ad” price in my city. So, I had no other option.

    I would never again walk into a dealership and just try to “work down” from retail price. It’s very tiring for one thing. As well, you won’t get as good of a price as an “ad” price or via buying online.

    Some manufacturers (like Chrysler) also offer “employee pricing.” Although I haven’t purchased a car via this promo it definitely looks attractive.

    Also – Sometimes buying a car via the manufacturer’s bank is better than your own bank or credit union. I got Honda financing at a very good rate. But, you have to have excellent credit. Also, to get the best rate you sometimes have to have a shorter loan period, such as 36 months.

    Be sure to check out Yahoo Autos and other online resources to research cars. It is important to look at user reviews not just go with what looks stylish. Japanese cars, of course, tend to be the most reliable.

    I hope this helps! Good luck!!!

  6. BRUUUUSKI said :

    First thing… forget about haggling on the MINI Cooper. They simply will not discount anything on them because they are still hot. You’d be lucky to purchase one at MSRP, they usually add on thousands (called Dealer Markup) to an already overpriced vehicle.

    So you’re left with the Toyota Matrix.

    Check out

    This website gives you an instant price quote on any car you wish. You can choose to order from them (this is a free service) or print out the quote and use it as a negotiating tool with the dealer.

    Check out

    This website is for financing your vehicle. For Tier-1 credit (above 690) you should qualify for their best rate of 5.99%. If you’re a Costco Gold member, you will get a discount rate if you go through the website (services —> financing).

    Your tax is the same as if you were buying a television or a hamburger. You do know what that is, right?

    Read this website like the bible. Then repeat, so you don’t forget.

  7. murry said :

    Broaden your choices to creat competition for your purchase, as great deals are coming this fall due to sell off of 06 models to make room for 07s. Also:
    – many auto companies are hurting, thus, look for incentives such as 0% financing for good credit.
    – Buy during last couple days of month, Sept. – Nov. 06, and last couple of hours of that day – preferably a rainy, cold Friday evening when no one is at the dealer, as salesmen are motivated to make their monthly sales goals, and they love ending their week/day with a sale, even if its not the best commission.
    – Go to and leverage internet to get dealers competing for you. Send-off an email to 3-4 and see who is hungry and responds.
    – Know what your selected vehicle is going for. Edmonds has good data.
    – Do not buy car that every one wants, as you will pay too much.
    – Keep emotions under control, do not let them know you love it.
    – Always ask for more options for less money, and offer much less than sticker w/o insulting them. If you offer a price and they immediately accept, you offered too much. You need to find their lowest price by having them reject your first/second/etc. offer. Have them suggest a number. Counter their answer with facts from your research and with alternative dealers/cars. And, make another offer, typically, no more than 1/2 of the difference between your initial and their reasonable counter.

    Bottom line – know the highest price you will pay before you get into the negotiations dance, as emotions and logical thinking may be difficult to control at this stage, given the time investment on both sides. And, you need to be prepared to walk away if they do not accept your reasonable offer. The industry makes 15 – 20 million cars/trucks a year. I am sure there is more than one of those that fits your needs.

    If you get within a couple hundred dollars, ask for more, e.g., options, car mats, free oil changes, 5 tanks of gas, etc. Also, leverage the potential of you getting your vehicle serviced at their dealership, as that is a substantial profit center for them. At this point, your time becomes more valuable than the couple hundred $$, so, get what you can, close-the-deal and drive away….

    Good Luck,


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