The Art of the Car Deal

The wheels of your old ride are falling off, the roof leaks, the tires are bald and every time you crank the engine it sounds like the local teen band tuning up in your garage. Even your spouse agrees it's time to trade in the old clunker and start looking for some new wheels. So you clinch your teeth, put a rubber band on your wallet and head down to the neighborhood car dealer.

Hold it right there, pal! This is probably the second largest purchase you'll ever make, and you're cruising for a financial bruising if you're not willing to do at least as much research as you would when buying an off-the-rack suit at the mall. Nearly 17 million new and an untold number of used cars were sold in the United States in 2005, and the amount of money consumers overspent would pay off the national debt.

Anyone who's bought a car since 2000 and didn't wear out their mouse surfing for information on the Internet before going to the showroom probably could have saved the equivalent of a year's fuel costs. It's all there, readily available and most of it is free.

You know the car and the cool gadgets you want and you know what the dealer paid. Now what? Experts agree that it's always a good idea to make the salesperson aware that you have the true numbers and know how to use them. Always remember that you're the boss.

That doesn't mean that you should enter a showroom with an attitude. Both parties are on a mission: his is to make as much money as he can; yours is to make sure he doesn't. Opposing goals for sure, but when an informed buyer does business with a professional salesman, a fair deal can and should be struck.

One top salesman reminds buyers that car dealerships are buyers first.

"The manufacturer didn't just loan us those cars out on the lot and hope we sell them," says Joe Pisciotta, an assistant sales manager in St. Louis. "We bought every one of those cars and our job is to sell them as quickly as we can. At a profit. There's no free lunch, but not many reputable salespeople or dealers are going to really try to rip you off. You'll eventually find out and we want you to come back again. But we're not going to lose money, and that's a fact."