How to Buy a Car like a Boss: Researching, Selecting and Negotiating like a Champ

Buying a car is a big deal. It's almost like having a baby. Okay, maybe not (calm down, ladies, I was kidding). But, it does require a great deal of preparation and maybe even training (think lamaze) in order to be done like a boss.

Alright, let's dive in. First, and I feel a little like a substitute teacher doing this (you remember the one), take a look at this video from Edmunds. Sure, it's a little dry, but he hits all the major points.

Okay, so step 1: Make sure you do your homework. Know what the car in question is really worth. I think this is probably a no brainer, but I had to say it. Just in case. There are lots of tools you can use to research. Edmunds.com, of course, is one of them. Here's a few others that are worth a look: Kelley Bluebook and the up and coming truecar.com.

Alright, so you have a good handle on what the car is actually worth. That's awesome! On to step two...

Step 2: Time to negotiate. If you're going into a dealership, you'll most likely be bombarded with over the top friendliness (which, let's admit, that's WAY better than pushiness). It's important to not be distracted with the bells and whistles (or four quadrant charts) or be deterred into something else that you didn't originally set out to get. Since you already know how much the car is worth, the rest becomes a lot easier. Just keep these couple of pointers in mind:

(1) Aim low! If you start under what you think is reasonable for the car, your chances of paying that amount are better than if you just lead in with that figure (he'll probably meet you half way in the end)

(2) Know that you can always walk away. For you, there will be that exact same car someplace else that is more willing to negotiate. It's the salesman that has something to lose--your business! I think that playing "hard to get" can also work to your advantage.

(3) The salesman is person too, trying to do his job and meet his boss's expectations. This is important to keep in mind as I think some folks can get a little carried away with the whole negotiating business and end up making things a bit too personal. So, always be respectful and professional. After all, what goes around comes around.

Master these easy steps and congratulations, you can buy a car like a boss. Go get 'em, champ.