|
Question: My son will graduate from college this spring. I plan to help him buy a
car. I also want to help him learn how to make the best choice.
Answer: The April issue of Consumer Reports (CR), as well as other publications
and the Internet, help simplify the process for your son into a learning -- shopping --
buying strategy. CR gives a brief description of 196 new car models. Some models earn
"recommended" ratings if they performed well in CR's tests and reader surveys rated
them at least average in reliability. Based on criteria such as comfort, safety, reliability,
fuel economy and performance, CR suggests top vehicles ranging from small to sport-utility vehicles. They tested 40 new vehicles according to performance, comfort,
convenience, safety and fuel economy.
In addition to CR, many Web sites offer lots of information about buying a car.
Your son can find out the retail prices of new and used vehicles, the supply and demand
of particular models in your area, current finance rates, cost of upkeep, performance
reviews, and local dealers who will work a deal over the Internet. At Edmunds.com
(www.edmunds.com), you can get safety features, prices for basic vehicles and options,
and a list of competing cars. The Kelly Blue Book site (www.kbb.com) also has new car
pricing. These sites and www.auto.com and www.caranddriver.com offer reviews of cars.
Your son can shop to get the information he'll need to negotiate a good price from
sites such as Cars.com (www.cars.com) that provides basic shopping information.
Autoweb.com (www.autoweb.com), CarPoint (www.carpoint.msn.com), Autobytel
(www.autobytel.com), AutoVantage (www.autovantage.com), and CarsDirect
(www.carsdirect.com) offer price quotes. Many of these sites will let you make side-by-side comparisons of several models.
When he's ready to buy, several Web sites give a no-haggle price based on what
he wants. Find out the bottom line benchmark that CR calls the wholesale price. This is
the dealer invoice minus any incentives from the manufacturer to the dealer that
effectively cuts the cost of the vehicle to the dealer. You can find this price for 16
vehicles in CR and use it as place to start negotiating a price.
Next week: financing a car and shopping for a used car.
For more information, contact your local
Colorado State University Extension office.
|
