You saved up for this moment. The moment where you're ready to make the second most important purchase one can make. All this time, you've dreamed of smelling the new fabric, testing out what the car can do and tinkering with all the gadgets. So you enter into the car dealership armed and ready...

Buying a car is the second only to purchasing a house as the biggest venture for consumers. For some, it can be nerve-wrecking considering the hassling and bargaining you're about to endure. For most, simply finding the right deal is the number one priority. I'm here to tell you that some deals can be made only if you're prepared and ready for anything.

First the Bad Practices

Each year, thousands of Americans are "suckered" into high car payments. It's the car salesman job to find you the car that fits you. But he's also there to profit from you. Most dealers are honest when selling, however there're a few who are dishonest. Some run scams to pocket more profits. Most of the scams happen while sitting in the finance office. You may not even notice them until the contract is signed and faxed to the lending bank. So let's first see some of the dishonest one-liners car salesmen use:

• "You're stealing food from my family table!" - This untrue statement is most prevalent when negotiations drag on. It's simply a ploy for you to think that what you're asking is too much for the salesman to consider.
• "We're losing money on this deal!" - Car dealerships have a certain price they pay for the car. In most cases, the mark-up on the car is already high enough that it will raise the price by as much as three to six thousand dollars more.
• "This car won't be around for long!" - This untrue comment is normally told after the car salesman has asked you when are you ready to purchase. The truth is, car dealerships can order the same car anytime they feel up to it. All you'll have to do is ask the salesman to order another car with the same specs. Or if you want, you can ask only for the options you really want.
• "What will it take to make you buy the car today!" - This pressurized question will be asked after there is a possibility the car won't be bought. Don't be forced to purchase a car you're not ready to own yet. It will only make you feel as though you were bought.
• "You must get an extended warranty to get a loan approval!" - This statement will be uttered while in the finance office. The finance manager receives a bonus if he can convince you to purchase the extended warranty. Most times, the warranty comes with many restrictions.
• "Take the vehicle home and take your time deciding!" - This tactic is used when you're unsure weather you want the car or not. The car salesman will ask you to leave your car at the dealership and drive the new car home. The problem with this is you're already taking ownership by spending time with something you may not want.
• "Let me hold your current car keys as collateral to get the best rate!" - Why do they need to hold your car keys? This tactic is used when you first begin negotiating prices. It's mainly used to force you to stay because you can't leave without your car keys. There have even been some cases where they "purposely" lose your keys, making you wait there for hours or to let you drive the car you test driven home while they find your keys. Keep your keys in your pocket.

When you're in the finance office, ask which bank will do the car loan. A lot of times, the loan you think you're applying aren't really a car loan. They're really called Retail Installment Sales Contracts (RISC.) What happens is the dealer signs the RISC with you and then they sell the contract to a bank or lender. In most cases, they're looking for a good markup in their favor on the contract. They can even participate in settling on the interest rate. It's best to have your own financing already done by you. If you have financing done already by your own accord, don't be forced to fill out a credit application.

Now For The Good Practices

When in the market for purchasing a new car, consider how you'll pay for the vehicle. One way is to have the cash available. This is best because you only have to worry about the price instead of the interest rate. Most dealerships will knock off the asking price if there is money available on the negotiating table. Here are some other options when purchasing a new car:

• Season Ending Specials - Towards the end of the year, the old model year cars are reduced to make room for newer models. Car dealers are motivated to push out these "new" models during this time. You may even find a car where it's marked down to the absolute lowest price, especially if they're stuck with a bunch of them. Some places mark these cars down during the summer while other do it during the fall seasons. Rebates, manufacturer's incentives and cash credits are the norm.
• Model Ending Deals - Sometimes manufacturers discontinue making a model or replacing the previous model for an updated version. These deals offer the biggest price tag reductions for consumers. This places you in the driver's seat as most consumers are looking for the latest editions. You can research if the model you want will be available on the manufacturer's website. If not, the last model will be lower.
• Zero Percent Financing - If you're paying with cash, then it may be wise to simply finance the purchase and bank the money. The financing company will give you thousands of dollars in interest money for making this decision. If you were looking to finance the car over time, then it would be way easier to pay off the car since there's no interest rate involved. Check with a financial expert before making a decision.
• Slow Sellers - Some cars are just not appealing enough for the average purchaser. The car dealerships will need to get rid of the inventory to make way for more cars that sell well. Sometimes they'll offer these cars at huge savings. American manufacturers such as Ford and GM have recently been suffering losing track records. This forces them to sell their cars to make up for lost revenue.
• Trade-ins - Consider using a trade-in to lower the prices further. You can look to see how much your current car is worth by simply checking with the blue book values. Be wary of the car dealer negotiating for the lowest price to offer for the car.

Buying a new car doesn't have to be rocket science. Being knowledgeable will be a huge advantage when searching for deals. It's simply shopping around and comparing prices. The Internet works great with this method because of the instantaneous answers. It beats driving all over town and saves on gas.