Know the costs before buying a new car - WTVM.com-Columbus, GA News Weather & Sports

ConsumerWatch

Know the costs before buying a new car

By Zaneta Lowe  - bio | email | Twitter

COLUMBUS, GA (WTVM) - According to the National Automobile Dealers Association, spring time is hot for car purchases.  In fact, during the months of April and August alone, more than 7 million car and truck purchases will be made. 

If you're in that number, how do you get the most for your money?  Experts say there are some important tips to follow before signing on the dotted line.

MEA Federal Credit Union CEO Polly Bell says she often talks to members who don't really understand the true cost of buying a car.  Bell says this includes additional fees consumers may not initially consider.

"Add-ons including dealer prep fees, documentation fees, delivery fees and charges," explains Bell.

Not to mention fees tacked on at financing like extended warranties and gap insurance.

"Let's say a $20,000 sticker price could end up at $25,000 with taxes and tag, warranties and gap."

Speaking of financing, experts say shop around for the best deal, just like you would for the actual price of the car.

However, be advised, there can be a downside. 

"If you give your social security number out to the dealer, they can shop as many as 10 financing alternatives."

Which, Bell says, can pull down your credit score.

Another tip, don't forget to ask for a Carfax report if buying a used car.

"You know whether it has been assumed under a lemon law and retitled," adds Bell.

For a complete list of the most or least expensive car to own, click here.

©2010 WTVM. All rights reserved.

  • Trending StoriesTrending StoriesMore>>

  • Police fatally shoot 17-year-old boy fleeing traffic stop

    Police fatally shoot 17-year-old boy fleeing traffic stop

    Wednesday, June 20 2018 3:17 PM EDT2018-06-20 19:17:51 GMT
    Wednesday, June 20 2018 10:43 PM EDT2018-06-21 02:43:27 GMT
    No shots were fired at the officers during the encounter, and no weapon was found on Rose's body. (Source: KDKA/CNN)No shots were fired at the officers during the encounter, and no weapon was found on Rose's body. (Source: KDKA/CNN)

    Authorities say a police officer fatally shot a 17-year-old boy just seconds after he fled from a traffic stop in a confrontation partly captured on video shot from a nearby home.

    More >>

    Authorities say a police officer fatally shot a 17-year-old boy just seconds after he fled from a traffic stop in a confrontation partly captured on video shot from a nearby home.

    More >>
  • Suspect arrested in shooting death of rapper XXXTentacion

    Suspect arrested in shooting death of rapper XXXTentacion

    Thursday, June 21 2018 8:40 AM EDT2018-06-21 12:40:30 GMT
    Thursday, June 21 2018 9:43 AM EDT2018-06-21 13:43:14 GMT
    Williams, 22, is charged with first degree murder, grand theft motor of a motor vehicle and operating a vehicle without a license. (Source: Broward County Sheriff's Office)Williams, 22, is charged with first degree murder, grand theft motor of a motor vehicle and operating a vehicle without a license. (Source: Broward County Sheriff's Office)

    Jahseh Onfroy, 20, was shot dead on June 18 outside of a motorsports store in Deerfield Beach, FL.

    More >>

    Jahseh Onfroy, 20, was shot dead on June 18 outside of a motorsports store in Deerfield Beach, FL.

    More >>
  • Mississippi State fan trolls wife in local TV news interview

    Mississippi State fan trolls wife in local tv news interview

    Wednesday, June 20 2018 10:08 PM EDT2018-06-21 02:08:19 GMT
    One Mississippi State baseball fan didn't let a rain delay drown his sense of humor and he took an opportunity to troll his wife in the process. Source: KMTV FacebookOne Mississippi State baseball fan didn't let a rain delay drown his sense of humor and he took an opportunity to troll his wife in the process. Source: KMTV Facebook
    One Mississippi State baseball fan didn't let a rain delay drown his sense of humor and he took an opportunity to troll his wife in the process. Source: KMTV FacebookOne Mississippi State baseball fan didn't let a rain delay drown his sense of humor and he took an opportunity to troll his wife in the process. Source: KMTV Facebook

    One Mississippi State baseball fan didn't let a rain delay drown his sense of humor and he took an opportunity to troll his wife in the process. 

    More >>

    One Mississippi State baseball fan didn't let a rain delay drown his sense of humor and he took an opportunity to troll his wife in the process. 

    More >>
Powered by Frankly