New Car Buying Check List
Simple steps to follow when buying a new car or truck

You have found the new car you want to buy, negotiated a great price, and worked out the details of financing, insurance, warranties and maintenance. The paperwork’s in front of you and it’s time to make the commitment. Here are a few last-minute pointers. Use this checklist to make sure you’re getting what you want when you sign.

1. Have you checked for manufacturer’s special programs (as well as dealer/retailer offers and promotions) which might further bring down the price of the car?

2. Is your timing right? Remember, some of the best times to buy a new car include the end of the month, year-end, and at the time new models are being introduced (assuming you are buying the current year model).

3. Have you decided whether to lease or buy?

4. If you will need financing, have you shopped around for competitive loan rates and obtained pre-approval?

5. Have you shopped around for the best insurance price?

6. Have you "covered all the bases" in arranging the purchase?

• Agreed on a formal purchase price for the vehicle which includes the cost of all the options you want.

• Researched to find out if any trade-in price being offered by your dealer/retailer is satisfactory.

• Proof read the bill of sale to prevent hidden charges from creeping in. Additional costs for taxes, licensing, registration and certain financing fees may be fair; however discuss such acronyms as ADM (Additional Dealer Mark-up), ADP (Additional Dealer Profit), or MVA (Market Value Adjustment). Once you get them spelled out, you may find they can usually be reduced or waived completely. Also watch out for Freight and Dealer Preparation Fees (DPF). These are already included in the purchase price of your vehicle in the factory invoice.

• Made sure you’re not paying for extras you don’t want or need, such as rust-proofing and fabric treatment.

7. If your car is a special order, have you checked that the written document specifies exactly (and no more than) what you’ve ordered; and that it states clearly that your deposit will be refunded if the vehicle delivered does not conform to your order?

8. Have you read and understood every word of your contract? Are all of the following covered off?

• The agreed-upon purchase price, including options. The exact amounts of any down payment, deposit and vehicle trade-in allowance

• Any additional surcharges you agreed to pay

• The specific details of any financing (loan or lease) arranged through your dealer or retailer.

• The complete, final cost of your vehicle, with all applicable charges and credits factored into the price

9. Have you got everything pertaining to your agreement in writing? (This includes the final sales contract, along with all warranties, licensing and registration forms, and the window sticker.)

10. If you are entitled to a rebate, and that this is noted in your sales agreement? Anything which reduces the up-front cost of the vehicle will also cut the amount of tax, interest and licensing fees you will pay.

11. Take a leaf from the lawyers. If there is a blank space anywhere in your contract draw a line through it (in the shape of the letter "Z" if the space is large enough); mark your initials in the margin and insist that the sales consultant initial too.

12. Have you double-checked that changes made to any documents have been initialed both by you and the sales consultant?

13. When the car is ready:

Does the VIN (Vehicle Identification Number) match all paperwork (and the window sticker)?

• Are all the features and options you ordered present, correctly installed and working properly?

• Take a test drive before formally accepting delivery. This is your last chance to detect any faults in the vehicle before it officially becomes yours.

• Sign the acceptance form only when you’re completely satisfied.
Even if you’re married, register the car in one person’s name.

If you’ve now checked off this last item, congratulations! You are now the proud owner of your first brand new car.