Two must-see resources before buying a new car

Most of us know new cars are an expensive habit—they simply depreciate too rapidly. But many of us still buy our vehicles new. For us, the trade-off of several thousand dollars in depreciation is worth the new car smell and the knowledge that the vehicle is in perfect condition.

Whatever your or my rationalizations, it pays to know as much as possible about the vehicle and the buying process.

Here’s two resources I’ve thoroughly enjoyed. If you take the new car route, I’m sure they’ll help you negotiate a better deal.

Confessions of a Car Salesman is an undercover look at the car buying process from the perspective of a salesman. Edmunds, a car-buying resource, sent one of their writers undercover to get a better understanding of how cars are sold.

It’s a long story, but packed with insight. Edmunds also has reviews and pricing information for new and used vehicles. I used their dealers’ invoice data when I negotiated the price of our last vehicle.

A recent EconTalk podcast explored new vehicle pricing. EconTalk’s host Russell Roberts recently bought a new Honda, but wasn’t completely satisfied with the experience.

Fortunately, his sales manager was willing to spend an hour explaining the process of selling new cars for Russ and his listeners. If you’ve ever wanted to know more about how dealers set prices or how to get the best deal, you’ll want to listen to this podcast.

What resources have you found useful for buying a new or used vehicle? Do you buy all of your vehicles used or are you willing to take the depreciation-hit that comes with a new vehicle?