When you are
buying a new or used vehicle, these tips will help you get the best deal
and avoid problems.
• Evaluate your needs
and financial situation. What kind of vehicle best suits your lifestyle
and budget?
• Consider a vehicle’s
fuel economy. A vehicle that gets more miles per gallon is good for your
wallet as well as for the environment.
• Use the Green Vehicle
Guide (www.epa.gov/emissweb)
to search for the most fuel-efficient and clean motor vehicle.
• Go to www.fueleconomy.gov
to compare the miles-per-gallon ratings of different vehicle models manufactured
since the mid 1980s. Go to www.fueleconomy.gov/feg/savemoney.shtml
for annual fuel estimates.
• Check the complaint
records of car dealers with your state or local consumer protection agency
or Better Business Bureau.
• Handle your car trade-in,
purchase, and financing as three separate transactions to get the best
deal on each. Get a written price quote before you talk about your trade-in
or dealer financing.
• Shop in advance for
the best finance deal at your credit union, bank or finance company. Look
at the total finance charges, not just the monthly payment. To help you
compare, the finance charge must be stated as an Annual Percentage Rate
(APR).
• Read and understand
every document you are asked to sign. Do not sign anything until you have
made a final decision to buy. Keep in mind there is no automatic three-day
right to cancel if you change your mind. See Your Rights: 3-Day Cooling-Off
Rule.
• Don’t take possession
of the car until the financing paperwork is final.
There
is no universal three-day cooling-off period.
Do not be misled into thinking
that you have an automatic three-day or other cancellation period for
all purchases. Only a few types of contracts give you a right to cancel.
See Your Rights: 3-Day Cooling-Off Rule.
Protect
Yourself: Choose a Safe Vehicle
These two organizations conduct
crash tests to determine how well a vehicle is able to protect occupants
if a crash occurs. Consumers can access the test results on the Internet.
The National Highway
Traffic Safety Administration (www.nhtsa.dot.gov).
Each year, NHTSA crashes vehicles head-on into a wall and bashes them
broadside to test their ability to protect their occupants. The focus
is on evaluating vehicle restraints such as air bags and safety belts.
The Insurance Institute
for Highway Safety (www.hwysafety.org).
A different test by the IIHS uses offset-frontal car crashes to assess
the protection provided by a vehicle’s structure.
Consumer Report’s
annual auto issue rates vehicles in terms of overall safety. Its safety
score combines the crash test results with a vehicle’s accident
avoidance factors – emergency handling, braking, acceleration, and
even driver comfort.
To find out whether a manufacturer
has recalled a car for safety defects, click on the “Recalls”
link at www.nhtsa.dot.gov or call
NHTSA at 1-800-424-9393. If a vehicle has been recalled, ask the dealer
for proof that the defect has been repaired.
Used vehicles should also have a current safety inspection sticker if
required by your state.
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