A Woman’s Guide to Smart Car Buying

The latest market statistics indicate that women influence 85% of all the car buying decisions, make 74% of the maintenance decisions, and purchase 45% of all the automobiles sold each year.

Yet some slick salespeople (men and women alike) may still think a woman is an easy mark when she walks into a dealership alone. I remember being pressured into purchasing my first car by a pushy, rude saleswoman who wore me down and had me in tears. I left the dealership with a five year loan on a car I didn’t even like that well because I didn’t know what I was doing and was afraid to say no. But that was many years ago and I’ve learned a lot and made many good deals since then. Here is a list of things you can do to be a great shopper and get more bang for your buck when buying your dream car.

Shop for a car during the week. Everyone looks for cars on the weekend. But when there are many buyers at a dealership, the service isn’t as good and the price of the cars often stays high. But on Tuesday, the weekend seems awfully far away and gives the salespeople more incentive to work with you and provide individual attention. Keeping cars on the lot is not their intent, but they tend to be more willing to bargain when the shoppers are fewer. Car shopping during the week is a great way to enjoy the experience and save you money at the same time. Many dealerships such as Kings Mazda in Cincinnati Ohio or Richmond Ford in Richmond Virginia have implemented programs to train and educate their staff on how to better handle customers who have now become savvy on shopping for the deals.

Shop online and compare at your leisure. You should be used to shopping for bargains online. Going online is the easiest way to comparison shop. Once you have made some initial decisions, go take a test-drive. Then, you can either stay at the dealership and negotiate, or go home and close the deal on the Internet. Use sites like Edmunds.com's Dealer Locator to compare pricing.

Keep control of the situation. Some salespeople can be really good at wearing buyers down – don’t get tired and succumb to the pressure. Remember, it’s your money, and the word “no” packs a lot of power. If the salesperson is already asking you to make an offer while you’re test driving the vehicle, chances are he will continue to pressure you as the deal progresses. Nobody can sell you anything you don’t want if you say no. If you find yourself getting frustrated, upset, or feeling sorry for the salesperson (one guy even pulled out his wallet and showed me pictures of his 10 kids while telling me he was under this month’s quota), just leave. After all, it’s your hard earned money on the line – no one can spend it but you. Dealers such as Trussville Mazda in Birmingham Alabama know the value in easing customers into their decision by showing them the value in what they have to offer.

Be smart in the Finance and Insurance (F&I) office. The F&I guy tries to sweeten the deal for the dealership. In the F&I office, you will hear mention of all kinds of products and services, from rust proofing to fabric protection. These make a lot of money for the dealer and cost you significantly. Just because you are financing a lot of money already, it can be tempting to include little extras "for just $5.00 a month," be careful. When shopping, give some thought to how well the options you are considering will depreciate over time. Some features, such as rear DVD entertainment systems, leather interiors, upgraded engines, and navigation systems can actually add to a car’s resale value, so decide carefully before signing on the dotted line.

Do your research before you negotiate. Check out Edmunds.com's True Market Value® pricing before visiting the dealer. This service determines and reports what others are paying for new and used vehicles where you live. Knowing this information will make the negotiating experience great fun if you like to haggle. If you’re shy about haggling, the information will give you the confidence you need to quietly but firmly discuss what you want the price to be.

Extended warranties are negotiable and you can always buy one later. Many extended warranties don’t go into effect for at least three years, and your factory warranty on a new car often covers the majority of items during that time. Also, did you know that if an item that is not covered by the extended warranty (such as a fan belt) breaks and damages an item that IS covered, then often the repair is not covered at all? Extended warranties also often do not cover damage caused by rocks, street debris, etc. When you do purchase an extended warranty, be aware that there are many different types, and make sure to read all the plan provisions and deductibles before signing up.