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5 ways social networking sites save money

Let peers help you choose a car
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Car shoppers can now tap into group wisdom to help you save money on your car-buying decision. Sites such as Honk and CarGurus lean on a network of car-loving friends to dish out information. And it's free to sign up.

Dashboards, which are pop-up control panels, are used on Honk to track favorite cars, while a search engine on the site matches you with cars most suited to your lifestyle.

"Honk captures social information," Honk Chief Executive Tom Taira says. "It's collaborative decision making."

CarGurus has more than 600,000 users who post reviews, pictures and opinions about cars. Digital Trends' Mokey believes that both sites are best suited to used-car searches. "People are inclined to justify their purchases," he says.


 

 

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