Last week I stupidly offered to send out a copy of our 2005 column on buying a new car. Surprisingly, this week I found I have more than two readers and the newspaper said the cost of buying stamps for all the envelopes would be too much.
Today, here is an updated column guaranteed to save you at least $5000 off the price of your next new or used car.
First, the golden rule: Buying a car is an emotional decision. You buy a car every pancake Tuesday. The car salesperson sells three or four a day. You are already behind in the game.
Second, the silver rule: There are lots of really good cars out there (across all price points), so it's hard to make a bad decision — the only bad decision is on a car that is not right for you. Make sure you look, see, touch and drive.
Third, the bronze rule: Look at used cars. Since 2009 the SUV segment has gone crazy so look at some used cars such as a 2012 Hyundai iX35 highlander (top of the line) with 80,000km-100,000km for $20,000 a year of new-car warranty left.
New car retail: The recommended retail price is set by the manufacturer. For the dealer, it's a starting price. Dealers, even of prestige brands, are salespeople at heart. They love selling cars more than making profits on the cars.