Financial Literacy

Factors to consider:

Is gas mileage, space for a family, or insurance costs a concern? Which cars receive high safety ratings, the highest customer satisfaction, and/or fall within your budget?

Do some research:

• Visit consumer report websites and find out about user satisfaction, cost of upkeep, etc.
• Visit dealer websites to learn about financing and incentives.
• Visit the Better Business Bureau to learn about dealers' customer satisfaction.

Analyze:

• Use a price guide such as the Kelley Blue Book or NADA Guides to make sure you're getting a good deal
• Ask for a new CARFAX report, don't rely on an old one.
• Analyze the car reviews you've found. Are there any trends? Are negative reviews legit or written by a few angry customers?
• Find out if the consumer websites gets paid by the car company for their review. Are they given incentives to write good reviews?
• Read the small print. Car ads can be deceptive.

Organize:

Gather all your research into a notebook or folder before visiting the dealerships. You may wish to have separate entries for each dealership to make it easier to compare deals and selling practices. Organizing your information will:

• Give you more bargaining power.  
• Help you get the best deal.
• Show that you are confident, professional and "mean business."
• Impress and/or distress the salesman. They might take you more serious when come in informed and can easily find documentation to support your claims.