BUYER BEWARE! You've heard it before, it's the two words that scare every car salesperson to death, or at least that's what they want you to believe. If you're a first time car buyer, there are a few important tips that can save you a ton of money as well as getting the exact car you want.

Tip number 1.

Know your credit rating. If you go into a car dealership without knowing your credit rating and score, the sales person will lure you in for the big catch of putting a large commission in his pocket. Not to say the salesperson should not make money, but there should be a fine balance of earning their commission and taking their commission. If you have a strong fico rating (anywhere from 640-740), you're a prime borrower and can expect standard interest rates. Anything less than 640, you're monthly payment may be half interest and may possibly put you into negative equity, meaning you owe more than what the car is worth. I advise you to print out your report and bring it to the dealership with you. This way the salesperson cannot dispute your credit score.

Tip number 2.

If possible, get pre-approved for an auto loan. There are plenty of websites like Lending Tree who will allow you to fill out an online form for an auto loan. If you are in good standing with your bank and have a checking and savings account, it doesn't hurt to apply for an auto loan from your bank. If you're pre-approved for a loan and walk into the dealership with a check for x amount, you will be in complete control of the deal and negotiations. Dealerships have great relationships with some banks since they work with them everyday, but this can work against you sometimes if they take points off your interest rate in turn making more money the higher the rate is.

Tip number 3.

Don't fall for the "Wait here for a few minutes, let me speak with my manager" routine. This is a classic sales tactic. The salesperson is breaking you down psychologically. If you are serious enough to fill out all of your info at the dealership, then you're serious enough to make that purchase. At this point, the salesperson knows how much you want that car, and will play the waiting game in order for you to agree to the deal even if it's a few dollars more a month and just to get out of the dealership with your new car. The classic line "I know you're looking to pay $300 a month for the vehicle, but if I can get it for you at $320, you can drive off the lot in it today". An extra $20 a month for 72 months can add up right into his commission.

Stand your ground, don't waiver on your monthly payment, and don't wait more than an hour in a dealership.