| CHARLOTTE,
N.C., March 20, 2007
– Is it time to trade in that
old clunker car? Thinking about
upgrading to a luxury
automobile? Buying a car comes
with a mix of emotions. It’s an
exciting experience but along
with the thrill comes a certain
level of anxiety. Before heading
out to your local dealership,
make sure to review the
following most common car buying
mistakes to ensure you don’t
drive away in something more or
less than what you want.
The following car
buying mistakes are brought to
you by LendingTree.com.
1. Not
researching in advance
Even if you’ve
narrowed your choice to a couple
of different models,
do your homework before
setting foot on a dealer’s lot.
After all, it’s easy to fall in
love with something on the lot,
only to have your hopes dashed
when you later check the safety
rating.
2. Not
taking a test-drive.
You wouldn’t
buy an expensive item of
clothing without trying it on.
Yet many people buy a car after
only taking a quick spin around
the block -- or without
test-driving at all. Test drives
should last at least 30 minutes
and should include both highway
driving and stop-and-go driving.
3.
Negotiating from the sticker
price.
Ignore the
manufacturer’s suggested retail
price (also called the sticker
price) of a new car and look at
the invoice price instead. That
is the amount the dealer paid to
the manufacturer. Negotiate your
price up from this, not from the
sticker price.
4. Buying
unnecessary extras.
Watch for “extras”
that may cost you more. While
you may not be able to avoid
things like sales tax and
licensing fees, you can avoid
paying for extras like rust
proofing or stain-proofing the
seats. Even if you want these
things done, you can likely
arrange to have them installed
for a less expensive cost
elsewhere.
5. Not
considering all your financing
options.
Dealers offer
incentives that sound tempting
but are usually only able to do
say because the “deal” includes
paying a higher purchase price.
Sometimes you can get a better
financing deal with an
outside lender, so explore your
options before financing through
the dealer. While it’s
convenient to finance with the
dealer, it’s not always your
best option financially.
About
LendingTree, LLC
LendingTree,
LLC is the nation’s number one
online lending exchange,
providing a marketplace that
connects consumers with multiple
lenders that compete for their
business. Since inception,
LendingTree has facilitated more
than 20 million loan requests
and $152 billion in closed loan
transactions. LendingTree
provides access to mortgages and
refinance loans, home equity
loans/lines of credit, auto
loans, personal loans, credit
cards and high-yield savings
accounts via
www.lendingtree.com
and 800-555-TREE.
Launched in
1998 with headquarters in
Charlotte, North Carolina,
LendingTree, LLC is part of IAC
Financial Services and Real
Estate, an operating company of
IAC (NASDAQ: IACI), which also
owns or operates LendingTree
Loans sm, LendingTree Settlement
Services, LLC, GetSmart®,
RealEstate.comsm, Domania®, and
iNest Realty, Inc. |
