. Auto Loan 

. Auto Rebate vs.
  Low Interest
  Financing

. Auto Loan vs.
  Home Equity

. Buy or Lease

. Auto Loan 
  Payoff

Autos

     AUTO PURCHASE/LEASE

1. You can save a lot of time and money by following these steps:
   
   a. First determine what kind of vehicle you really need. 
   
   b. Decide on your budget. 
   
   c. Determine if you need a new car or used.
   
   d. Research the vehicles. 
   
   e. Test drive. 
   
   f. Determine if you want to buy (finance) or lease. 
   
   g. Shop for the vehicle.
   
   
2.    For the best deal get the following all independently.
      a. best deal for the new car (see what others have paid at
          Truecar.com)
      b. best deal for your Trade-in and the 
      c. best financing deal
      
   
3. Research:
   
   Compare total cost to own including insurance, gas, maintenance at Intellichoice. Check out J.D. Power and Consumer Reports.
   
   Check out newcars.com
   
   Check fuel costs at fueleconomy.gov
   
   Compare buying vs. leasing.
   
   
4. Buy (Finance):
   
   Decide on financing options at Bankrate,  Lendingtree
   
   Improve your FICO score to get the best financing or lease deals.  
   Get a free credit report at Annualcreditreport.com
   
   Compare monthly payment of a) manufacturer’s rebate + your own financing from a bank and b) manufacturer’s financing with no rebates. See calculators on top left of this page. 
   
   Refinance your car loan if you are paying too much. Check Home Equity Loan vs. an Auto Loan. See calculators on top left of this page.
   
   
5. Lease:

   Improve your FICO score to get the best financing or lease deals.  
   Get a free credit report at Annualcreditreport.com
   
   Compare paying for the lease upfront with monthly payments, compare lease vs. buy on top left of this page.  

   Negotiate a lease- monthly payment, miles driven, buyout price.
   
   When comparing lease versus buy take into consideration extra mileage charges ($500 if you drive 5000 miles over the limit at 10 c/mile). Also remember that giving the lease car back with 10,000 miles on it is equivalent of losing $1000 (at 10 c/mile).  

   You have equity in rare instances when the residual value of the car is less than the market value.  Note that sales tax can eat into your profit if you plan to buy this car and sell it.

   Lease info websites: Leaseguide.com,  leasecompare.com
   
   
6. Shop:
   
   Find out invoice price for a new vehicle and trade-in at Edmunds. See more car buying tips at Carbuyingtips. Remember cost of a car to the dealer may be less than invoice price due to holdback and factory-to-dealer cash that the dealer receives. 
   
   Compare 2 competing vehicles carefully, some features are standard in some cars but options on others. Compare at Edmunds and manufacturer web sites like Honda. 
   
   Get an online offer at Autonation
   
   Option packages are less expensive than options paid for separately. Dealer installed accessories are more expensive than manufacturer provided options.
   
   Do a “Email/Fax attack”:  Email or fax several dealers in your area with details of the automobile including options and ask for a quote. By email, 
   remember not to speak to any salesman but contact the internet managers at several dealerships directly. See the dealership website for the internet manager's contact info.
   
   Take advantage of Year-end and Model end clearances, Rebates ($1500 cash back) and Financing specials (0% for 5 years).  Take advantage of special deals for college graduates.
   
   Check everything before signing on that dotted line, there is generally no “cooling off” period in automobile purchases.
   
   Be wary of add-on's to a new car purchase like fabric protection, rustproofing, paint sealant, maintenance packages, extended warranties, and sometimes life insurance. These could be potential rip-off's.
   
   Check out tax credits on hybrid vehicles.
   
   
7. Used Cars:
   
   Shop at Craigslist.org, Autotrader and Cars.com.
   
   Take advantage of used car discounts when there is a glut of leased cars turned in, check out certified used cars.  
    
   Compare the seller's asking price with the "bluebook" value (found at edmunds.com). 
   
   Do a diagnostic check for a used car at the dealership for a nominal fee before buying it. Used cars can be found at  Take advantage of the fact that cars depreciate a lot in the first two years. 
   
   Keep the old car for lower insurance costs and lower DMV fees. 
   
8. Buy auto accessories at a discount at autoanything
   
   
   AUTO MAINTENANCE
   
   
9. Use mechanics who are certified, well established, recommended and communicates clearly the repair options and associated cost. Check out Driverside.com and  Repairpal.com.
   
   
10. For routine maintenance (15,000 mile service etc), check the auto service quote to see if there are items beyond the manufacturer's suggested maintenance. 
    
    Save (70 % in the example below) by 1) eliminating some of the items, at  your discretion,  not specified in the manufacturer's suggested maintenance 2) buying original parts on the internet 3) doing some easy tasks yourself 4) getting labor estimates for some tasks, like a brake job.
    
    

    Dealership Service
    	Brake job	30K service	Total
    Dealership "A"	295	436	731
    Dealership "B"	333	450	783
    Dealership "C"	590	420	1010

    Do-it-yourself+other services
    Parts	133
    Labor	170
    Total	303

     

11. Charge auto purchase maximum (e.g. $5000) on credit card, get credit card rebate.
    
    
12. Buy a warranty extension with new car if it is a good price. 
    
    
13. If the maintenance is Routine (e.g. brake replacement) or Known 
    (muffler replacement), then get a quote for labor and part, then shop for part separately.
     
14. Do your own work (replacing air filter, wiper blades). Use online videos to help you. For example, a video of replacing the cabin filter on a Toyota Camry.
    
    
15. Use oil change/service coupons sent to your home or in the Entertainment book.
    
    
16. Free tire rotation is offered at some places like Discount Tire.
    

       GAS


 17. Use self-serve.  
        Compare prices by zip code at Mapquest, gaspricewatch.com,
        gasbuddy.com

  18. Carpool. Info at erideshare.com, alternetrides.com, nuride.com,
        rideshareonline.com and carpoolworld.com

  19.  Drive fuel-efficient vehicles.     
         Don’t use premium unless owner’s manual recommends it.

  20.  Save gas (drive at constant speed-cruise control, keep car tuned up,
         use proper tire inflation pressure, don’t use higher octane if not needed,
         don’t slam on the gas, park in the shade in summer, roll down windows
         first before starting the A/C, try to avoid the rush hour, remove
         unnecessary weight from the car). Carpool with coworkers.  
         Telecommute if possible.

  21. Use a credit card from BP Chase for a 5% rebate on gas at BP gas
        stations along with other travel and dining purchases.   

  22. Avoid bogus devices such as fuel line magnets that claim to improve gas
        mileage.

        INSURANCE

  23. Understand coverage definitions such as Broad, Collision and
        Comprehensive.

        Eliminate coverage you do not need. Consider dropping
        comprehensive coverage for older cars. 
 
  24. Increase deductibles. 

  25. Use all discounts possible: Multi-car, airbags/ABS, anti-theft device
        (active, passive), glass etching, clean driving record, defensive driving
        course (state), driver improvement course (online, video, CDROM),
        good grades/driver’s ed (young drivers), college students, student away,
        direct debit from paycheck, annual payment, telecommuting, home
        insured too.
        
        Auto rates may be lower if your kid goes to school more than 100 miles
        away. Keeping a kid on the plan may be cheaper than an individual plan
        for that kid.

  26. Compare premiums at Insweb, statefarm.com, allstate.com, geico.com,
         progressive.com, amica.com and auto-owners.com 
         Find an independent agent at iiaba.org. 
            
  27. Compare premiums at least every year.

  28. Drive carefully to avoid hike in premiums.  

  29. Choose vehicle based on auto premiums too!  

  30. Negotiate a Total Loss Insurance with the insurance company.

  31. Look into an umbrella policy for liability coverage.