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Don’t visit another car dealer or test drive another vehicle without absorbing Carlos Treadway’s handy tips for negotiating the best deal. Car buyers, you’ve been warned ... – todd williams

1. Do your research:“All customers should use available resources to determine what the best offer is. You go to any newspaper or buying sites and research what the price is for the car. Most people come in and have not done the proper research and they don’t know what interest rates or programs are available.”

2. Make your payments on time:“You [can’t] not make payments and believe that there’s nothing that the finance company can do. We want you to make the payments, we want you to keep your car; and the best thing to do [if you’re going to be late] is communicate. Most people don’t know that should be done.”

3. Know who you are as a driver:“You want to know your driving habits. How many miles are you driving? What kind of gas mileage are you getting? That’s really what determines whether you want to purchase or lease the vehicle. Determine your habits and how often you want to get a new car. If you’re a person who wants a new car every two or three years, you should probably lease the vehicle. You’re going to have cheaper payments and you get the turnover of the vehicle more often.”

4. Stick to your budget:“You need to set your budget — determine how much money you have. Determine how much you have for a car payment and how much you have for an insurance payment, and that’s what you should stick to. When you go in to buy a vehicle, don’t get enthralled with the car — make sure it can fit into your budget — especially for first-time buyers.” Carlos Treadway is the director of minority dealer relations and multicultural affairs for Ford Credit.

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