5 Steps to Buying Your Next Car

Now Is The Time To Buy A New Car

In case you hadn’t realized it yet, we’re currently in the midst of one of the worst downturns the auto industry has seen in decades. Year to date, sales are down by 15%, but that figure is much higher for some automakers, including Chrysler where sales have dropped by more than 25% this year.

Bad news for the auto industry coupled with the calendar year coming to a close means one thing: passenger vehicle discounts have never been better, giving you an excellent chance to buy a new car for a lot less money.

Keep reading and we’ll take a look at five steps to help you save money on your new car:

1. Do Your Own Research – You may be fond of a particular make/model, but does that car live up to its hype? For an objective look at what experts say about the vehicle you like, make sure you acquaint yourself with reviews from The Truth About Cars, Consumer Reports, and other no holds barred publications.

2. Shop Around - Through the end of the year, the deals being offered will include some of the best seen in years, but shop around for the biggest savings. Take a look at what is being offered – low-cost financing, cash back, or a special lease deal – weigh each plan by learning which one is best for you. Also ask about military discounts, new grad rebates, and other offers available on top of already great savings.

3. Arrange Your Own Financing – If you can pay cash for a new car, you’re in the best position when it comes time to negotiate. You’ll determine the final price you pay for your car while reaping the benefits of all of the discounts being offered to you. But, if you’re like the majority of drivers, you cannot afford to pay cash. Instead, you can arrange your own financing before you set foot in a dealer’s showroom. Your rate may not be as low as what Ford Credit or Mitsubishi Motors Credit has to offer, but you can take manufacturer cash discounts instead and still come out ahead.

4. Compare Warranties - These days, all cars offer some sort of warranty on various parts, maintenance, powertrain, etc. The better the coverage offered, the less you’ll have to pay out of pocket down the road should something happen to your car. Consider buying a car that comes with a comprehensive warranty, forgoing the dealer warranty plan that can set you back an additional $500 to $1500 or more.

5. Contact Your Insurer – Before you settle on a particular car, why not call your auto insurer to get a quote on insurance coverage for the coming year? The results may shock you – that little Fit from Honda may cost you more money to insure than the Ford Focus thanks to crash worthiness tests conducted by the Insurance Institute for Highway Safety (IIHS), an industry advocacy group that sees how well cars hold up in a crash.

By doing your own research and taking your time comparing the deals being offered, you stand to save thousands of dollars off of the purchase price of a new car. Great deals won’t be around for a long time and when the market begins to recover, they’ll soon become as rare as hen’s teeth.

Nissan Versa For $9990? Wow!

The Nissan Versa is the smallest car from the popular Japanese automaker, but it now has one more claim to fame with it: it now has the lowest sticker price of any new car sold in America.

Late last month, Nissan announced that a stripped down version of the Versa would be made available sale beginning on November 18th, a car that will retail for just $9990 (plus $695 destination/handling charge). This move will price the base Versa some $3000 below the previously low price for the four door and make it even lower than previous low cost leader, the Hyundai Elantra, by some $1000.

No, with the Nissan Versa 1.6 you won’t see all the creature comforts of most any other car out there. Air-conditioning? Nope. Stereo system? Nada. Automatic transmission? You’ll have to pay extra for it. Bluetooth? I really do not know.

With a 1.6L I4 engine producing just 107 h.p. and paired with a five speed manual transmission, the Versa 1.6 has perhaps just one other attribute that buyers might crave: the car will get 26 mpg around town, but achieve an even more admirable 34 mpg on the highway.

Bringing the Versa 1.6 to market reverses a trend with major auto manufacturers — base cars that have long come fairly well equipped, offering all of the amenities that drivers want for one, low price. But, with the economy in the tank right now, Nissan is seizing an opportunity by providing a car that they believe will capture a portion of the car buying public, perhaps even pulling in used car buyers who would be attracted to the Nissan’s price.

Yes, the little Nissan is stripped, but with aftermarket parts added and some ingenuity on your part, the Nissan Versa 1.6 could be just the car you need. Besides, aren’t you already an advocate of 4/65 air-conditioning? That’s right — all four windows down and driving 65 mpg on the highway will cool you off in no time!