Honest Guide to Buying a Car
There's so much dishonesty when it comes to buying a car. For such a large purchase, consumers need a source they can trust to guide them through the process, and that's what this guide is all about. It's taken me years of research and practice to discover these optimal car buying strategies, I hope you find them useful. The entire guide is available for free on this site, or you can download a Kindle version on Amazon.com for a small fee.
Browse the Chapters
Chapter 1. Buying a New Car
Chapter 2. Buying a Used Car
Chapter 3. Leasing a Car
Chapter 4. Getting a Car Loan
Chapter 2. Buying a Used Car
Chapter 3. Leasing a Car
Chapter 4. Getting a Car Loan
Chapter 5. Selling Your Car
Chapter 6. How Car Dealers Work
Chapter 7. Car Insurance
Chapter 8. Warranties & Add-ons
Chapter 6. How Car Dealers Work
Chapter 7. Car Insurance
Chapter 8. Warranties & Add-ons
TABLE OF CONTENTS
Chapter 1. Buying a New Car
- The Basics
- Why Buying a New Car is Such a Hassle
- How Dealerships Really Make Money
- How Smart Car Buyers can Save a Fortune
- 12 Steps Every Car Buyer Should Follow
- What You Must Do Before Buying a New Car
- Does the Lemon Law Really Offer Protection?
- Budgeting
- How to Calculate Your Budget the Right Way
- Optimal Budget for a New Car
- How Much Down Payment is Enough?
- How to Buy a New Car on a Tight Budget
- Choosing a Car
- Important Factors When Choosing a Car
- How to Compare Two Vehicles
- Be Flexible to Save Lots of Money
- The Best Place to Start Your Car Shopping
- Which Car Options Are Worth Having?
- What to Look for When Comparing Cars
- Why Color Choice Is Important
- Are Foreign Cars Better?
- How to Test Drive a New Car
- Consider an Extended Test Drive
- Buying Options
- How to Locate the Exact Car You Want
- How to Order a New Car from the Factory
- Why You Can't Buy Direct from the Factory
- The Costco Auto Buying Program
- The Problem with Car Buying Services
- Negotiation
- The Ultimate Step-by-Step Car Negotiation Guide
- Always Negotiate Everything Separately
- Why You Should Never Negotiate Price at a Dealership
- Don't Ever Negotiate Based on Monthly Payments
- Always View the Invoice When Negotiating
- Always Force the Dealer to Quote Price First
- Things That are Non-Negotiable at a Dealership
- Prices & Fees
- What Is MSRP?
- Why Invoice Price Isn't Dealer's True Cost
- What is Dealer Holdback?
- How to Figure Out a Dealer's True Cost
- Why Car Prices Can Sometimes be Wrong
- Which Cars Can You Buy Below Invoice Cost?
- Average Dealer Documentation Fees by State
- Which Dealer Fees Are Legitimate?
- Dealer Advertising Fees
- Can You Buy a Car Below Dealer Cost?
- Incentives
- The 7 Types of Car Incentives
- Is Low APR or Cash Back Better?
- What Is Carryover Allowance?
- Why Do Car Makers Offer Incentives?
- Do You Pay Taxes on Cash Rebates?
- Which Cars Offer the Largest Rebates?
- List of States That Do Not Tax Car Incentives
- How to Get Hidden Dealer Incentives
- Leftovers & Demos
- What Is a Leftover Model?
- Is Buying a Leftover Model Smart?
- Don't Wait Too Long Before Buying Leftovers
- Should You Buy a Demo Car?
- Timing the Purchase
- The Best Time to Buy a New Car
- Clues That Tell You Which Cars Are in High Demand
- How to Time Your Purchase to Maximize Savings
- Why You Should Never Buy a Newly Introduced Model
- Why You Should Always Buy Your Car at the End of the Month
- Legal & Paperwork
Chapter 2. Buying a Used Car
- The Basics
- Pros and Cons of Buying a Used Car
- How Much Can You Save Buying Used?
- Best Times to Buy a Used Car
- The Hidden Costs of Buying a Used Car
- Research
- How Much Car You Can Afford?
- Best Places to Search for Used Cars
- Best Places to Buy a Used Car
- Advantages of Buying From a Dealer
- How Dealers Get Their Used Car Inventory
- Negotiation
- Before You Buy
Chapter 3. Leasing a Car
- The Basics
- How Does Car Leasing Work?
- Lease Terms Explained in Plain English
- Auto Leasing Do's and Don'ts
- The 2 Different Types of Car Leases
- Where to Shop For Car Leases
- Sample Lease Contract
- Pros & Cons
- 9 Advantages to Leasing a Car
- 7 Reasons Why You Should Lease a Car
- Main Reason Why Most Shouldn't Lease a Car
- 8 Biggest Disadvantages to Leasing a Car
- Calculate Lease
- What is Considered a Good Lease Deal?
- How to Calculate Your Monthly Lease Payment
- Why It's Important to Calculate Lease by Hand
- Why Residual Values Are So Important
- How Residual Values Are Calculated
- Leasing Strategies
- How to Lower Your Lease Payments
- How to Get Competitive Lease Quotes
- Best Cars to Lease for Saving Money
- How to Find Manufacturer's Lease Rates
- Best Time of Year to Lease a Car
- Don't Put a Down Payment on a Lease
- 5 Ways to Get Out of a Car Lease Early
- Single-Payment Car Leases
- Should You Buy the Car at Lease End?
- How to Sell My Lease for Profit
- Should You Lease From the Same Company?
- Is Leasing a Used Car a Good Idea?
- Fees & Taxes
- Common Fees You Will Pay When Leasing
- Why Leasing a Car Requires Expensive Insurance
- Why You Need GAP Insurance When Leasing
- Leasing Scams
Chapter 4. Getting a Car Loan
- The Basics
- Guide to Getting the Cheapest Car Loan
- Main Sources for Car Financing
- Why It's Best to Get Short Term Loans
- Quickly Calculate Your Monthly Payments
- Best Car Loans for First Time Buyers
- Do Car Loans Cover Sales Tax and Other Fees?
- Credit Score
- What is a Credit Score?
- How to Obtain Your Free Credit Score
- How to Obtain Your Free Credit Report
- 5 Factors that Affect Your Credit Score
- Best Ways to Improve Your Credit Score
- Amounts You Can Borrow Based on Credit Score
- Credit Scores That Qualify for the Lowest Rates
- Fixing Your Credit Score Can Save You $8,500
- Can Checking Your Credit Lower Your Score?
- What Lenders Look for Other Than Credit Score
- How to Fix Errors in Your Credit Report
- Credit Unions
- What is a Credit Union?
- Why Credit Unions are the Best for Car Loans
- How to Find and Join a Credit Union
- A Word of Caution about Credit Unions
- Banks & Dealers
- How the Finance Department of a Dealership Works
- How Much Money Do Dealers Make on Car Financing?
- Why Dealers Prefer You Get Longer Loan Terms
- Why You Should Finance Directly With a Bank
- Lowering Your Car Payment Using Home Equity
- Bad Credit
- What Lenders Look for From Borrowers
- Top Reasons for Being Rejected by a Lender
- How to Get a Car Loan with Bad Credit
- What to do if You Have Negative Equity
- How Dealers Screw People With Bad Credit
- How Lenders Treat Sub-Prime Borrowers
- Should You Use a Credit Repair Service?
- How to Qualify for Low Finance Rates
- Scams
Chapter 5. Selling Your Car
- Best Way to Sell Your Used Car
- When to Sell Your Used Car Privately
- Best Type of Car to Trade In
- Factors That Affect Your Trade In Value
- Why Used Car Price Guides are Usually Wrong
- How to Prepare Your Car For Sale
- How to Sell Your Used Car Privately
- How Much is Your Car Worth?
- Best Places to List Your Car for Sale
- How to Set the Initial Asking Price
- How to Place an Effective Classified Ad
- Dealing With Buyers
- How to Complete Paperwork and Payment
- Precautions to Take When Selling Your Car
- How to Sell Your Used Car to a Dealer (Trade In)
Chapter 6. How Car Dealers Work
- The Basics
- What is a Dealer's "Back End" Profit?
- Why It's Important Dealers Sell Cars Quickly
- How Long do Cars Sit on a Dealer Lots?
- Four Characteristics of a Smart Car Buyer
- Do's and Don'ts
- 4 Simple Tactics Every Car Buyer Must Use
- Never Tell a Dealer You're Paying Cash
- Never Give Cash Deposit Before Buying a Car
- Should You do a Dealer Trade?
- Types of Dealers
- How to Spot a High Pressure Dealership
- The 3 Types of Car Dealerships
- Is it Smart to Buy From a No-Haggle Dealership?
- How to Check a Car Dealer's Ratings and Reviews
- Dealer Scams
- The 3 Main Ways Car Dealers Can Rip You Off
- Dealer Trick: The 4 Square Method
- The Bait and Switch Scam
- Why Special Sales Events Are Usually Ripoffs
- Dealer Advertising to Watch Out For
- Outrageous Dealer Scam: Switching Paperwork
- Car Rebate Scams and How to Avoid Them
- Beware of "Dealer Stickers"
- How to Spot a Fake Window Sticker
- Why Women and Minorities Need to be Careful
Chapter 7. Car Insurance
- The Basics
- How to Choose Reliable Car Insurance
- Common Car Insurance Terms
- Is it Easy to Switch Car Insurance?
- Best Reason to Keep Current Car Insurance
- Why Car Insurance May Not Pay Out
- How to File Car Insurance Complaints
- What to Do If You Get a Traffic Ticket
- Saving Money
- Common Car Insurance Discounts
- Why Car Insurers Charge Different Rates
- How Much Car Insurance Do You Need?
- How Credit Score Can Affect Rates by 50%
- 9 Major Factors that Affect Car Insurance Cost
- How to Get Cheap Insurance for Teenagers
- How to Factor Car Insurance into Your Budget
- The Best and Worst Cars to Insure
- Types of Coverage
- What Does a Car Insurance Policy Cover?
- Minimum Car Insurance Requirements
- Why You Should Focus on Liability Coverage
- Should You Get Medical Payments Coverage?
- Does Car Insurance Pay for Diminished Value?
- States With No-Fault Car Insurance
- Should You Get GAP Insurance?
- Why You May Need an Umbrella Policy
Chapter 8. Extended Warranties & Add-Ons
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