How to Buy A Car

Last Revised on March 3, 2008

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There are smart moves that can help you cut a good deal when buying a car. Here are some of the top tip on buying a car:

Consider car’s fuel costs: Look for vehicles with a higher fuel mileage ratings and give some consideration to hybrids, even though some hybrids cost considerably more than comparable gas-only vehicles.

Beware of low-cost lease deals: As manufacturers become more desperate to sell cars, they start to send a lot of offers involving cut-rate lease payments. These are the trap. Many of these leases allow only 10,000 miles a year and charge as much as 25 cents a mile for every mile over the allotment.

Put Big Down Payment: You can buy a car with little or no money down. But you will be surprised when you will notice that for the first three or four years of ownership you owe more than their cars are worth.

A good rule of thumb is to put at least 20% down on any vehicle, in cash or trade.

Buy a used vehicle: You should consider buying a used car. New cars lose at least 30% or more of its value the minute somebody drives it off the car dealer lot. Though that loss has less impact if you keep a new vehicle for at least five years, it still should enter your calculations.

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