Car Buying

Ok, this isn't your normal child rearing subject but I figure that some of you may appreciate some advice on this. I will not tell you the whole car buying process but will give you a couple key points. 1) obviously... do your homework. Know the car you want and why. Find out the price online before you buy it. I like www.edmunds.com personally but there are many sites that will give you the true cost on the car.
2) Get your financing from your credit union before you even set one foot in a dealership. If you don't... You are crazy and probably going to get a worse deal. The credit union will give you a draft for the amount you need. The only reason not to use the credit union would be if the Manufacturer is offering 0% or seriously low interest rates. Check with the credit union to see if they can match it or show you where the catches are. There are usually catches... The favorite is having to chose between a huge rebate and the 0% financing. If you must choose... Take the rebate and finance the balance with the credit union. Another trick is an additional $500 - $1000 rebate to finance through the manufacturer's finance division (ie FMCC or GMAC). Do it and then refinance within 90 days with the credit union.
3) Never, NEVER trade in your old vehicle. Do not buy a new vehicle until your old vehicle is sold.
4) Chose your dealership and salesperson... They will get you the car you want. Do not surf the web looking for your new car and definitely do not drive from lot to lot. That is a very stupid and dangerous practice. If you feel the need to lot shop... Do it when the dealership is closed!!!
This will help minimize the "impulse buy".
5)If you want a warranty, credit life, disability insurance, maintenance program etc... buy it from the Credit Union. NEVER FROM THE DEALER!!!
6) Negotiating is the easy part. Know your price and don't budge. Not a penny. If you know the price before you go get your car... What could possibly chance from home to the dealership? PROFIT! That is it. Anything you pay over the price that you researched is simply profit for the dealer. Not the salesman, not the manufacturer, only the dealer and dealership management.
7) Ask about referral fees. Yes all dealers pay for referrals. Who referred you? Does that $100 go to a friend, family member, coworker or my favorite your church or school? It should. The dealer budgets for it and writes it off anyway. So ask for it, get it and pass it on to others. These are also called "bird dogs"