Buying
A New Car
A new car is second only to a home as the most expensive purchase
many consumers make. According to the National Automobile Dealers
Association, the average price of a new car sold in the United States
as of June 1998 was $23,480. That's why it's important to know how
to make a smart deal.
Tips
For Buying a Used Car
A disclosure document that gives consumers important purchasing
and warranty information, the Buyers Guide tells consumers:
Lease
vs. Buy
Different viewpoints and information on the differences between
purchase a new car and leasing it for a fixed term
The
Federal Trade Commission's Advice to Dealers Regarding the Used
Car Rule
Most car dealers who sell used vehicles must comply with the Federal
Trade Commission's (FTC) Used Car Rule. In fact, car dealers who
sell more than five used vehicles in a 12-month period must comply
with the Rule. Banks and financial institutions are exempt from
the Rule, as are businesses that sell vehicles to their employees,
and leasers who sell a leased vehicle to a lessee, an employee of
the lessee, or a buyer found by the lessee.
Auto
Service Contracts
Buying a car? You also may be encouraged to buy an auto service
contract to help protect against unexpected, costly repairs. While
it may sound like a good idea, don't buy in until you understand
both the terms of the contract and who is responsible for providing
the coverage.
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