Edmunds.com's Strategies for 'Smart Car Buyers' Author to Answer Automotive Consumer Questions on Free Conference Call

SANTA MONICA, Calif., July 1 -- Edmunds.com's "Strategies for Smart Car Buyers" author Phil Reed will be the guest on the "EverydayWealth" teleclass hosted by personal finance expert Gerri Detweiler tonight, Thursday, July 1, 2004, from 9:30-10:30pm ET. Interested consumers can participate at no charge by dialing 507-726-3260 and entering passcode 2345# at anytime during that hour.

According to Detweiler, "We believe the information provided by Edmunds.com can help empower consumers to save a lot of money in any automotive transaction." Detweiler is the credit expert and a board member of EverydayWealth (http://www.everydaywealth.com/), an independent, inexpensive and comprehensive service designed to help consumers take control of their credit and build financial independence.

One tip Reed frequently offers is that consumers should learn the actual transaction value of any vehicle they plan to buy or sell. Surprising to most consumers, the Kelley Blue Book price is not the value of the vehicle, but only the only starting point for negotiation, like a sticker price. In fact, it is only an estimate by Kelley of the "listing" prices being asked by dealers -- not what they are really getting for the car.

"Consumers who pay the Kelley price or accept it for their trade-in are leaving money on the table," advises Reed, who worked undercover at two different car dealerships to get an insider's perspective on the training, attitudes and behind-the-scenes maneuvers that dealers and salespeople use to gain the upper hand.

His undercover experience is well documented in "Confessions of a Car Salesman," included in the "Strategies for Smart Car Buyers" book, together with extensive advice on all aspects of buying and selling a car and related products such as insurance and extended warranties. Initial feedback suggests the content surprises, amuses and educates readers even if they're not in the market to buy a car.

Such advice from Edmunds.com, the Internet's premier resource for automotive information, has empowered automotive consumers for decades. Edmunds.com published its first book, a used vehicle buyers' guide, in the 1960s. Riding on a wave of consumer word-of-mouth, in 1995 Edmunds.com launched its Web site -- which uniquely holds the title "the most useful Web site" according to every J. D. Power and Associates' New Autoshopper.com Study(SM). Edmunds.com's new and used vehicle buyers' guides continue to be published annually. All Edmunds.com books are described at http://www.edmunds.com/books/ and are available through local booksellers and Web sites such as amazon.com, barnesandnoble.com and booksamillion.com.