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Are you thinking about buying a new car, but dreading the dealer haggles that come with the purchase?
There are a number of car-buying services that say they'll do the negotiating dirty work for you, and save you thousands
of dollars in the process.
These services are often just a mouse click or phone call away. Fees range from free (if you're a member
of one of their affiliates) to anywhere from $200 to $400, with about half of the amount due upfront.
Buyers typically begin by calling the car-buying service or filling out information online.
"People go to our Web site and put in their contact information," says Marcus Sanchez,
chief operating officer of No Haggles, a
car-buying service in Warner Robins, Ga. "Then, one of our automotive specialists
calls them back and conducts a 15-minute interview.
"They get all the information about the vehicle the buyer wants, their trade-in (if any) and their
credit information for financing. Then, we go to work looking for the vehicle."
New vehicle searches make up the bulk of the car-buying service business. Because common car models
are readily available at dealerships nationwide, the process is fairly quick.
Between three and five days typically pass from the time you contact a car-buying service to the
moment you drive your new car off the lot. Special orders can take longer.
"We have a 72-hour turnaround time," Sanchez says. "Sometimes, we're even able to turn it around
within a few hours. It depends on what the customer's looking for and the availability of the vehicle."
Car-buying services try to negotiate a price with the dealer that's close to invoice price, which is
the amount the car manufacturer charges the dealer.
"Once we've secured the vehicle, we'll get a printed buyer's agreement from the dealer with that
dealer's signature on it," Sanchez says. "Then, we'll share that information with the consumer and set an
appointment for delivery."
Car-buying services can make the shopping experience less of a hassle. But are these services a good
deal? Before you try one, here are six things you need to know.
| Here are six things you should know before hiring a car-buying service to find a new set of wheels. |
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You need to choose carefully
Choosing the right car-buying service is essential to getting a good deal, says Lauren Fix, author of "Lauren Fix's
Guide to Loving Your Car."
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