AAA: Don't Let Spring Car-Buying Fever Catch You Off Guard
19 March 1999
Don't Let Spring Car-Buying Fever Catch You Off Guard, AAA Says
ORLANDO, Fla.--March 18, 1999--If spring car-buying fever has you revved up -- as it does 27 percent of car buyers annually -- make sure you are prepared when it comes time to make a deal, says AAA.Of the 15.1 million vehicles sold in 1997, more than 4 million of them were bought in March, April and May.
"The fun and excitement of purchasing a new car sometimes over-shadows the logical, common-sense approach that these decisions should take," says Dave Van Sickle, director, AAA Automotive and Consumer Information. "Don't rush to buy the first car you see. Take your time."
To help you make a good car-buying decision, AAA offers these tips:
-- Decide how much you can afford to spend. Consider both principal and interest, and a possible increase in insurance. These costs may be offset somewhat by repair costs for your current vehicle.
-- Shop around for financing. Check with your bank, car dealers and other sources of financing such as AAA Financial Services Corp. An abundance of low-rate auto loans are now available on new and used cars.
-- Decide what kind of car you want or need. Take into account driving distances, the number of people using the vehicle, and personal preferences for comfort and style. Establish criteria that include attributes important to all those who will be driving the vehicle.
-- Determine which manufacturers have vehicles that match the criteria you have established and visit those dealers first.
-- Search on-line for product information. There are many on-line car buying services and also manufacturer's Web sites that will have information.
-- Let salespeople know your criteria up front. They will realize that you have put effort into this decision and treat you as a serious buyer.
-- Test drive the vehicles. An estimated 75 percent of new-car buyers never test drive a vehicle first. Be leery of dealers who do not have demos of a popular model, or who offer you a ride in a car but do not let you drive it.
-- Check with friends, the Better Business Bureau and other consumer organizations to find reputable dealers.
-- Talk with owners of a car identical to the one you want to buy.
-- Estimate the dealer cost (between 80 and 90 percent of the list price).
-- Establish the value of your trade-in. Many guide books are available.
You can apply for a AAA Financial Services Corp. auto loan by calling 800-680-AAA4, or on the Internet. From www.financial.aaa.com, click on the banner that reads, "Lightning-fast auto loans." Approximately 20 percent of online applications receive a decision in as little as 15 seconds. Same-day funding is available at many AAA offices.
Contact your local AAA office to find out what auto pricing or purchasing services and information it offers.
AAA Financial Services offers a full range of financial products to AAA members through PNC Bank, FSB, and its affiliates.
AAA news releases can be downloaded from http://www.aaa.com/news
