Welcome to Ameritrade Plus University
  Buying a car
 
Introduction
 
Top 10 things
 
The details:
 

The right vehicle
 

What can you afford?
 

New or used?
 

Buy or lease?
 

Shopping for money
 

Setting your target price
 

Negotiating the best deal
 

Closing the deal
 

Buying on the Web
 
Glossary
 
Take the test
 
Lessons:
1
  Setting priorities
2
  Making a budget
3
  Basics of banking
4
  Basics of investing
5
  Investing in stocks
6
  Investing in bonds
7
  Buying a home
8
  Investing in mutual funds
9
  Controlling debt
10
  Employee stock options
11
  Saving for college
12
  Kids and money
13
  Planning for retirement
14
  Investing in IPOs
15
  Asset allocation
16
  Hiring financial help
17
  Health insurance
18
  Buying a car
19
  Taxes
20
  Home insurance
21
  Life insurance
22
  Futures and options
23
  Family law
24
  Estate planning
25
  Auto insurance

|> About Money 101

investing 101

  Buying on the Web
Web buying services can be a boon when buying a car, if you know a good deal when you see one.

Auto-by-Tel, the leading online car-buying service, recently announced that it is selling $1 million worth of new cars every hour. The service and its competitors, such as Autoweb.com and Microsoft's Carpoint.msn.com, must hold some attraction for car shoppers.

The main attraction is low hassle. You can go to one of these sites, see the MSRP and invoice costs, and, if you are ready, fill in exactly the model you are looking for and your Zip code and possibly your e-mail address. You then will get a phone call or e-mail from a dealership offering a fixed, no-haggle price. If that offer is as low as $100 or $200 over dealer's invoice (and if they have a model and color you want), you have struck a great deal with a minimum of hassle.

The drawback: Most Internet services guarantee participating dealers exclusive territory. So while you almost always will get a good price with Web services, you may not get the best price that results from competitive bidding.

If you want to use the web to help you do your own shopping, General Motors' gmbuypower.com lets you see what specific cars local dealers have and negotiate by e-mail if you wish.

If you want to be sure you are getting the best of competing bids, you might want to hire a service that shops for you. Started as 800-number telephone services and now with Websites as well, these shoppers will, for a fee, find the best available deal near your home:

AutoAdvisor: $395 full-service fee or $165 for three price quotes (800-326-1976; autoadvisor.com)

CarQ: $475 full-service (800-517-2277; carq.com)

CarBargains: $165 for competing bids from local dealers (800-475-7283; carbargains.com).

Take the test

 
© 2003 Cable News Network LP, LLLP.
An AOL Time Warner Company ALL RIGHTS RESERVED.