The Motley Fool Discussion Boards
Automotive / Buying and Maintaining a Car
|Subject: Re: Fool 13 Steps to Buying a Car needs a 14th s||Date: 8/21/2000 9:45 AM|
|Author: DriversWay||Number: 7148 of 71394|
Thanks for the postive comments on the Fool Car Buying Series!
You wrote, "I really only had one objection and that was that Obtaining Financing was Step 3 after negotiating the price of the new car and trade-in."
I think you if you read the 13 steps carefully you will find that we suggest preparing the financing prior to buying a vehicle. http://www.fool.com/car/Buyingacar.htm
The first 9 steps set you up to buy the ONE vehicle that fits your needs, now you haven't purchased it yet you have just found what you want to buy. Step 10 talks about trade secrets, which really could use some improvement, but if you read the USED CAR BUYING steps and apply them in reverse you are doing just fine. Step 11 talks about financial preps, still you haven't negotiated the price on a new car, but you are getting ready to. Step 12 is the fax a thon step, this is the ART OF THE DEAL, this is the point at which you are purchasing the vehicle.
So what you have done is your HOMEWORK on the vehicle you want, the trade value of your old vehicle, and the financing parameters available to you. Now you buy the vehicle with the fax-a-thon, so now you need to trade and finance, which you are well prepared for when you go in to sign the papers on the purchase. This approach puts you in the negotiation seat with the dealerships since you are not stuck with whatever they throw on the table. (trades and financing are the most profitable business in the new car dealership, commonly known as the "back end") The real point is saying that the order is Negotiate the Price, arrange trade, and financing is to get people to treat these as three seperate deals with a car dealership. If you don't you end up in a three card monte, or shell game, you never know what you are really getting. Keeping the 3 portions of a deal distinct is extremely important to the average vehicle consumer, but preparing for them in sort of a reverse order fashion is just as important!
The 13 steps of Foolish Car Buying takes this approach, of prepare then keep distinct, to me the consumer could never be served better!
Take CARe, Fool on!
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