Tips on Negotiating a Better Car Deal

Are you ready to buy the car of your dreams? Although a car can be a big investment, a little planning will get you the vehicle you want and you can still have a little cash left over to buy those pink fuzzy dice to hang on your mirror.

Number 1: Know what you want - and what you do not want - before you get to the dealership. When buying a car, you can never have enough knowledge. Do a little homework and you'll pass the car-buying test with flying colors.

"I suggest members stop by our offices to look their vehicle up in the NADA book so they will know the value of the vehicle they are considering," says Romania Hensley, Branch Manager of Foothills Federal Credit Union in Sweetwater, Tenn. "You can also go to our web site at www.foothillsfcu.org and look up your vehicle and the vehicle you are thinking of buying, to make sure both values are in line with what the dealer is offering and asking."

Number 2: Know what you can afford. Do you have the cash in the bank? Or do you need to get a loan? It helps to know what financial options you have before you head to the car lot. That way you know exactly where you stand when faced with a myriad of choices. It also helps to get pre-approval on a loan.

"If you get a pre-approval before shopping, you can make the deal you want," says Hensley.

Number 3: Listen to Smokey Robinson and "shop around." There are so many new and used cars out there these days, it's prudent to visit more than one car dealership so you can get a feel for what's out there.

"Members need to shop around to make sure they are buying what they want," Hensley emphasizes. "And do a little patient bargaining. Sometimes dealerships will come down on price."

If not, maybe it is time to try the next lot. Or wait a day or two and see if the salesperson calls you back with a lower price.

Number 4: Don't forget the other expenses involved in buying a car. There is more to buying a car than just the initial purchase. Buyers need to consider taxes, licensing, insurance and other fees.

"Always make sure you check with your insurance company before you buy a car and see what rates you will have on the type of vehicle you want to purchase," says Hensley, "This way, it won't be an unpleasant surprise you are forced to deal with after you buy, placing you in an unexpected financial pinch."