The dealership experience can be extremely stressful, but it doesn't have to be. You could know everything there is to know about the cars you're considering, but that's only a fraction of the buying process. If you want that seductive new sedan at a good price, you're probably going to need to know what to say - and more importantly, what not to say. Some people loathe the whole car-buying experience simply because they anticipate getting conned. A few hundred dollars isn't a big deal on the price of a luxury car, but it's the idea of smart shopping and that sense of getting a good deal that's especially important. For luxury car buyers - notoriously labeled the shrewd shoppers - a good deal is icing on the cake.

With home foreclosure rates rising and economic volatility the norm, it's easy to understand why more people might want to get out from under a $400-per-month car lease that stretches on for two or three years more. Companies such as LeaseTrader.com and Swapalease.com offer such services, connecting people who want to get out of a lease with those eager to get a deal on a short-term arrangement, but consumers should proceed carefully before paying hundreds of dollars for a lease transfer. The idea of escaping a lease is gaining in popularity. LeaseTrader.com says it expects to handle 35,000 transactions this year, up from about 20,000 in 2006.

Chrysler recently instituted a "lifetime" - yes, your lifetime - powertrain warranty for its Chrysler, Dodge and Jeep vehicles. If you're shopping for a car and comparing warranty coverage, "lifetime" sounds tough to beat. But when you break down the numbers in light of how long most people own their cars, most warranties, including Chrysler's, end up being pretty much the same as their competitors. The exception are Hyundai and its Korean sister-brand Kia. Hyundai made a splash in 1999 when it introduced a 10-year, 100,000 mile powertrain warranty. Of all the major non-luxury car brands out there, Hyundai and Kia are still the only ones with a warranty package that's materially better than the rest.

"Sticks and stones may break my bones, but words will never hurt me." That's all well and good on the playground, but it's a different story in a car showroom. That's because auto dealers have their own colorful slang that says something about how the car business operates; some pitfalls to watch out for; and, in some cases, how some of the more cynical dealerships see the customer. Many car dealer terms can be applied to customers. Quite a few, like "Minnie the Moocher" are not compliments. (In the Cab Calloway song, Minnie the Moocher dreams she has $1 million in nickels and dimes, which she counts a million times.) A "mooch" is a customer who wants everything, without paying for anything. Not something the dealer likes to see.

With high gasoline prices drawing so much attention lately, the often harsher overall cost of auto financing is being ignored by consumers who are stretching loans on new cars to as long as nine years. Low monthly payments and no-money-down deals have long been used to shore up car sales in a slumping market. But auto buyers who opt for longer loan terms are more likely to wind up owing more on their car loans than their cars are worth. Car dealers and banks say people in this position have negative equity, but the popular expression is that they are "upside down." Last year, about 29% of car buyers who traded in a vehicle to buy a new one owed more on their car loans than their cars were worth, compared with 20% five years earlier.

Recent used models -- those that are less than five years old -- can be a real value because you get a nearly-new car still in fine working order for a fraction of the new-car price. And you'll pay less for collision insurance and taxes too. The trade-off, of course, is that you don't know if a pre-owned car has any hidden problems that will come back to bite you in the wallet down the road. Finding a used car isn't tough -- they're in plentiful supply these days at dealers and from private parties. You can search for cars from both at Autotrader.com and Cars.com, and find a wealth of information; from how many miles the car has on it to how it's equipped. Still, buying used often feels like a gamble. How do you know you're getting a good deal? How do you avoid ending up with a lemon?

How long is too long when it comes to financing a new vehicle? Apparently for many buyers there is no such thing as too long, provided the monthly payments are kept low. The average length of a car loan today is an astounding 70 months, up from about 62 months a year ago. On some higher-priced vehicles, nine-year car loans are starting to appear. And none of these figures take into account buyers who have taken out home equity loans to purchase new vehicles, often extending the payments over as many as 15 years.

Auto financing can come from one of several sources, including banks, credit unions, and auto dealerships. If you're serious about buying a car, you need to investigate the various possibilities. Here are the top mistakes some people make when seeking and securing an automobile loan. 1. Not investigating all your options. Many people use credit unions for automobile loans, while others find good deals from their local banks. The key is to investigate all potential lending options, including the dealership. Several sites, such as RoadLoans.com, LendingTree.com, or E-Loan.com will help you make financing comparisons, and in some cases, secure loans.

Theory's great and reality's scary. The answer is "yes." But there are several big "ifs" attached. The question? Oh, sorry and it's one I get asked so often I thought you might know what I was referring to. So let me back up. People from all walks of life are inundated through e-mail or snail mail with long-term, low-interest credit card offers. You know the type: 1.99 percent interest until the balance is paid off, or something similar.

Before zeroing in on the vehicle you want to buy-new or used-it pays to have your financing already in place. This will eliminate one more area where a dealer can slip a few more dollars from your pocket into his. There are several places to borrow the money: Brick-and-mortar banks and credit unions. You can get an auto loan from a bank, credit union or another financial institution. You can have these loans approved before you ever hit the showroom. These sources of financing will usually offer the lowest rates you'll find, and credit unions are generally lower than banks.