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Question: I'm thinking about buying a car. Any tips?
Answer: You've picked an interesting time for car shopping. If
you are in the market for a 1997 model, there may be plenty of bargains
to choose from.
Information is your best ally for getting the right vehicle and
the best price. You're odds of "winning" at the car buying challenge are
excellent if you are prepared.
One of the best places to start your search for information is
the April issue of Consumer Reports. Each April, Consumer Reports
publishes its annual auto issue. You can find descriptions and ratings
of the new models with tips on buying or leasing cars, light trucks, and
four-wheel drive vehicles. Safety and repair records are included.
If you're thinking about a used car, Consumer Reports offers
recommendations for the best and the worst cars. Critically important to
anyone buying a used car is the repair history -- repair records cover
the past eight years.
Sales figures for many automakers have not met expectations. As
a result, many sales incentives are available to encourage Consumers to
buy. Incentives are available on some car models for the first time.
Incentives can include cash rebates, lower interest rates, and low-cost
leasing programs. Average incentives have ranged around $800 to $900 but
may be higher on some vehicles. Luxury cars, in particular, may have
surprisingly good deals.
William Pochiluk, a partner at Coopers & Lybrand Consulting,
does a weekly report covering incentives on U.S.-sold vehicles. He
states that "more capacity coming on stream and fundamentals of demand
not getting stronger" means great deals for Consumers.
There are a number of sources of information that are available
through the internet. Here are some of them:
Edmund's Automobile Buyer's Guide - edmunds.com. This web site
will give you base sticker prices, option prices and dealer invoice
prices on 565 models. You'll also find short reviews of each model and
good advice on how to negotiate. Tips from Dr. Burke Leon's book "The
Insider's Guide to Buying a New or Used Car" will help you shop. If you
know the dealer costs, you can bargain from there.
Kelley Blue Book - www.kbb.com. Most of us have gotten blue book
data from lenders or the library when we were in the market for a new
car. Now you can access this information by computer.
Car and Driver magazine - www.caranddriver.com, and Car Smart -
www.carsmart.com provide information about new and used cars and trucks.
AutoWeb Interactive - www.autoweb.com - fills you in on dealer
incentives and allows you to use a loan calculator to estimate payments.
For individuals who do not have computers at home and would like
to search these web sites, there are several places in Fort Collins with
computer access to the internet. The Fort Collins Library has nine
terminals (soon to be eleven). Fortnet at 145 E. Mountain offers
internet access from 10-4 Monday through Friday. The Poudre High School
Media Center at 201 Impalla Drive is available to the public from 4-7 PM
Monday through Thursday. There are no charges at any of these locations;
however, there may be charges for printing or downloading.
For more information, contact your local
Colorado State University Extension office.
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