Now you're finally ready to check out the cars. Compare sticker prices with the estimates from your research. Review the standard and optional features listed on the stickers. When you're ready, get brochures, take test drives and ask the salesperson for information. Ask about everything from warranties (what is covered and for how long?) to service department hours and loaner policies.

Next, it's time to negotiate a deal. The difference between the dealer's invoice (estimates are available from your insurance agent or from automotive magazines and auto pricing services) and the price listed on the sticker is your bargaining range. The more information you have on exactly what the dealer pays for the standard package and for each option, the stronger your negotiating position. It also helps to know whether the manufacturer is offering any cash rebate offers or factory-to-dealer incentives (which give the dealer more latitude in pricing).

The popularity and availability of a particular car will also factor in to how willing a dealer is to negotiate. And keep in mind that when you shop may make a difference in the final price you pay. The end of the model year (September and October) favors consumers because that's when dealers are reducing inventory to make room for next year's models. Late December, when more folks are worried about holiday shopping than car shopping, is another good time. The end of the month, when salespeople are trying to fill their quotas, may also be prime deal-making time.