How to buy a car with confidence

Expert Insights

Philip Reed, an auto's editor for Nerdwallet and former car salesman, shares his insider knowledge on car buying. He emphasizes the importance of getting pre-approved for a loan before stepping into a dealership, as it empowers buyers with financial clarity and leverage 1. Reed's unique experience working undercover as a car salesman provided him with a deep understanding of the industry's tactics and pitfalls.

When I first started there, they actually sent me out to get a job as a car salesman, and I worked at two different dealerships in Los Angeles.

--- Philip Reed

This experience allows him to offer practical advice to potential car buyers, helping them navigate the often complex and intimidating process.

   

Sales Tactics

Salespeople like Diane, known as the "Prius Queen," highlight the importance of finding a salesperson who respects your budget and preferences 2. She stresses that a good salesperson should not rush you into a decision, acknowledging that buying a car is a significant financial commitment. Chris Arnold, an NPR correspondent, adds that understanding the tactics used by salespeople, such as the "excitement meter," can help buyers make more informed decisions 3.

So your job is to not get as high as possible on the excitement meter. You know, we don't tend to make the best financial decisions when our emotions are going like 100 miles an hour.

--- Chris Arnold

By focusing on their needs rather than emotions, buyers can avoid common pitfalls and secure a better deal.