Test Your Car Buying I.Q.

Buying a new car below factory invoice is nearly impossible

If you do not purchase an extended warranty, you are responsible to pay for all repairs once the factory warranty expires

When shopping for a car, demand that the dealer give you his absolute best price.

You should never finance through the dealer.

It’s better to sell your trade-in outright than it is to trade it in.

Always try to work a deal on monthly payments

Servicing your car at an authorized dealer is too expensive.

It’s a good idea to shop prices over the phone or on the Internet before you actually go to a dealership.

Never give the dealer a deposit until you’ve agreed on a price.

Never bring your spouse or a friend with you when you shop for a car.

It isn’t necessary to test drive a brand new car.

The deal is consummated when all the paperwork and contract are signed.

Overall, it’s cheaper to lease than to buy.

If you back out of a deal after you sign all the paperwork, the dealer can keep your deposit.

If you live in an area with severe winters, it’s a good idea to have your car rustproofed.

Dealers make more money on new cars than they do on used cars.

You can generally get a better deal if you wait for tent sales or year-end clearances.

If you buy a Certified Used Car, it’s not necessary to have the car checked out by an independent mechanic.

New cars depreciate least in the first year.

Independent dealers that specialize in used cars generally offer lower prices.

Extended warranties are too expensive and not worth the money.