Using Tax Refund to Buy Car? Edmunds.com Offers Advice

Using Tax Refund to Buy Car? Edmunds.com Offers Advice

SANTA MONICA, Calif. — April 30, 2010 — Many Americans are in the process of receiving a tax refund, and for some it may be the perfect down payment on a new car. Edmunds.com, the premier online resource for automotive information, provides the following advice for such shoppers:

1. Check your timing. Now may be the best time to buy the car you want, or maybe it's worth waiting. Edmunds.com publishes Predicted Price Trends so that consumers can view an educated guess about whether the best deals are yet to come.
2. Consider the True Cost to Own^® a new car, not just the purchase price. Can you afford the change in insurance, fuel and maintenance costs as well as the new monthly payment? "Some consumers are drawn to leasing specials with low monthly payments, but other ownership costs sneak up on them once they've signed the paperwork," commented Edmunds.com Editor Karl Brauer.
3. Know what to expect at the dealership. There are certain fees that are non-negotiable, but almost everything else is open to discussion with your salesperson. Read "What Fees Not to Pay" and check the True Market Value^® to prepare for the negotiation. Even if current national and regional incentives and rebates are generous, don't let that stop you from driving down the transaction price to TMV^® or lower.
4. Test drive your salesman. Use Edmunds.com's Dealer Ratings and Reviews to find which local showrooms deserve your business, and don't hesitate to walk away from anyone who makes you feel uncomfortable or unsatisfied with your buying experience. After your purchase, be sure to rate your dealership so others can benefit.

About Edmunds
Edmunds publishes four Web sites that empower, engage and educate automotive consumers, enthusiasts and insiders. Edmunds.com, the premier online resource for automotive consumer information, launched in 1995 as the first automotive information Web site. Its most popular feature, the Edmunds.com True Market Value^®, is relied upon by millions of people seeking current transaction prices for new and used vehicles. Edmunds.com was named "Best Car Research Site" by Forbes ASAP, has been selected by consumers as the "Most Useful Web Site" according to every J.D. Power and Associates New Autoshopper.com Study(SM), was ranked first in the Survey of Car-Shopping Web Sites by The Wall Street Journal and was rated "#1" in Keynote's study of third-party automotive Web sites. Edmunds is headquartered in Santa Monica, California, and maintains a satellite office in suburban Detroit.