Hyundai's Power of the Purse(TM) Takes the Stress Out of Car Buying
Hyundai Empowers Chicagoans with Essential Information for Their Vehicle's Entire Life Cycle
CHICAGO, Oct. 6 -- Today, women purchase more than 50 percent of the new cars sold in the United States and influence another 80-85 percent of vehicle purchases. Yet, an astounding 78 percent of women admit that buying a car is their least satisfying retail experience. Automotive Consultant, Donna Kane, will be in Chicago to share Hyundai's one-of-a-kind program, Power of the Purse(TM), automotive empowerment workshops designed to teach women (and men) how to make more informed decisions about car buying and servicing.
Buying a car doesn't have to be so traumatic. By doing a little homework, the overwhelming process of purchasing a car -- and actually getting the one you want at a good price -- can become much less stressful. Car expert Donna Kane from Hyundai Motor America says the key to easing the car buying process is in the initial research.
"Most people think that when it's time to buy a car, they should immediately go to the dealerships to find what they want," Kane said. "In reality, there's a lot of planning that should be done first."
Before making the "big purchase," Kane recommends adding these simple guidelines to your checklist.
Know what you can afford. Kane suggests that the first thing you should do is narrow down the choices of vehicles that are in your price range by determining what you can afford each month. As a rule of thumb, car buyers should expect to pay $25 for every $1,000 financed on the traditional 60-month loan.
Research various warranties. Warranties are vitally important because they can offer buyers a solid piece of mind and demonstrate a manufacturer's willingness to stand behind their vehicle. The more comprehensive the warranty -- such as The Hyundai Advantage, a 10-year/100,000 mile warranty -- the less you are at risk.
Know the numbers. Car buyers should not go into a dealership without first knowing what the numbers are. Without knowing what the dealer paid the manufacturer for a vehicle compared to the actual window sticker price, also known as the manufacturer's suggested retail price (MSRP) and is printed on the Monroney label, you can't negotiate or recognize if you're getting a good deal.
There are several sources where you can obtain the MSRP and other useful information. Kane suggests researching online at Edmunds.com or KBB.com or even going to a local library or bookstore for a current copy of Consumer Guide magazine.
For those who have done their homework and are ready to take a trip to the dealership, Kane offers a few last-minute tips:
Determine if the car is a good fit. Is there enough head and foot room? Like Goldilocks, you should be sure the fit is "just right" so you are able to see all four corners of your automobile.
Are the accessories user-friendly? Make sure the most commonly used controls are within easy reach. Check the air conditioner, mirrors and turn signals.
Are you test-driving the model you're considering to purchase? Make sure the car you test drive is indicative of the one you're going to buy. If you aren't going to purchase the super-deluxe model, don't take the time to test drive it.
Donna Kane will be participating in Redbook's Living Room Mall Tour, October 8-9, 2005 at the River Oaks Mall where she will be answering any questions about car-buying or leasing and she will be distributing free car- buying materials. The mall is located at 96 River Oaks Center, Calumet City, IL 60409.
About Hyundai Motor America
Hyundai Motor America, headquartered in Fountain Valley, Calif., is a subsidiary of Hyundai Motor Company of Korea. Hyundai cars and sport utility vehicles are distributed throughout the United States by Hyundai Motor America and are sold and serviced by more than 670 Hyundai dealerships nationwide.
