How To Buy Your Next New Car Online And Get Best Possible Price

A friend just sent me a link to a presentation by a gentleman named Rob Gruhl at the Ignite Conference in Seattle a few years ago.

http://consumerist.com/2009/12/buy-a-new-car-without-getting-ripped-off.html#comments

It's quick, clear and concise and hits on some great points. Very well done.

Selfishly, almost everything he is touches on are the consumer pain points that led to our creation of AutoBidsOnline.com. Watch the video and pay particular attention to the following:

Says Rob: Give yourself a lot of time - two full weekends.
Says ABOL: Screw that. Use online dealer competition to minimize your time.

Says Rob: Get pre-approved for financing from local bank or credit union.
Says ABOL: Absolutely! The dealer may have better financing but you need to have a pre-approved loan (or cash budget) prior to negotiations.

Says Rob: Don't trade in your old car at the dealership.
Says ABOL: Absolutely - if you have the stomach and financial ability to sell privately. However, if you don't want to go through that hassel, at least get a guaranteed buy bid from CarMax and/or AutoTrader. Your local bank or credit union may give you a bid as well. If the dealer will match your best price, then it will be much easier to trade with the dealer. He does the title work and pays off any existing loan. Just make sure you are getting a reasonable deal before trading with the dealer.

Says Rob: Select 3 (or more) different cars to increase your options.
Says ABOL: Absolutely! It is amazing how emotionally attached people get to a car. Dealers use this to their advantage. However, it is equally amazing how quickly the newness wears off that new car and the emotional attachment withers away. There are very likely several cars in your desired class that will provide similar performance. Try to focus on the one that provides you with the best VALUE and you will be way ahead when it comes time to trade in 2-4 years.

Says Rob: Don't buy a car when you test drive.
Says ABOL: ABSOLUTELY!

Says Rob: Call up to 8-10 dealers to get into a competitive bidding situation.
Says ABOL: Screw that. Submit an anonymous buy bids at AutoBidsOnline and let dealers compete to be the first one to meet it.

Says Rob: Get the "drive it off the lot" price.
Says ABOL: Absolutely. We call it the cash price. If I paid you cash out of my wallet today, how much do I need to hand you to get title to the car?

Says Rob: Stick to your guns!
Says ABOL: Absolutely. However, the beauty of ABOL is the consumer's ability to rate the dealer experience.

Says Rob: Say no in the back room.
Says ABOL: Don't ever ENTER the back room. Arrange for delivery of your new car at your local bank branch, home or office.

Take A Wild Guess Who's Behind This One

Barney The Pimp and some so-called consumer protection groups are calling for yet another layer of bureaucracy to "oversee" dealer assisted financing on new and used car loans.

Just what we need - more bureaupunks, creating yet another layer of bureaucracy. If this passes, we'll be blessed with one more inefficient, unaccountable waste of our tax payer dollars – all in the name of “protecting” the consumer.

Here’s a novel idea – learn the meaning of Caveat Emptor people. Read your contracts and quit blaming your laziness on someone else. It's not the federal government's job to ensure you don't buy something you don't need and it's not the federal government's job to keep you from paying more than you should.

The dumbing down of our society continues to evolve at a rapid pace - and we're letting it all take place right before our very eyes.

https://home.autonews.com/clickshare/readLink.do?CSAuthKey=kfh_Szi2T0U-o42EVmwPFYo-0