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Auto Best Deal - Auto Best Deal Big dealer - Auto Best Deal Score

Auto Best Deal

You've been coached to ignore the sticker price and go in ready to haggle, but you're never sure if you're getting the best price.

Or if you're getting enough for your trade-in. Or if the finance office is offering a fair deal. If you lease your new wheels, there's a whole array of arcane nooks and crannies to worry about. To be on sound footing when you shop for a new car, you need to know how the process works -- how dealers make their money. When you zero in on a model, you want to know how much the dealer paid for it (the invoice price) and the kinds of deals that other buyers in your area are striking. Ironically, the adversarial relationship between dealer and customer may have gotten worse in the past decade precisely because educated shoppers are driving harder bargains in a buyers' market.

Here's the playing field:

Factories are churning out vehicles to keep the production lines moving, creating surpluses on dealers' lots.

So carmakers prop up demand by offering rebates or low-rate financing. Buyers are equipped with information from the Internet that lets them negotiate prices closer to invoice than to sticker price.

Although car buyers have ready access to prices, they don't necessarily know whether they qualify for the best financing rate, or even what that rate is.

That has led to a rash of complaints being filed with attorneys general and consumer-protection agencies about the dealer reserve -- the commission the dealership receives when it inflates the lender's loan rate.

Many dealers defend the practice as fair compensation for arranging the loan. In fact, lenders sometimes approve loans for riskier customers as a way to pay back the dealer for sending business their way.

But the amount of the markup is usually decided by the dealer, and that has gotten some dealers in trouble. Studies show that African Americans and Hispanics pay higher rates than Caucasians.

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Auto Best Deal - Auto Best Deal Big dealer - Auto Best Deal Score

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