'Tis the Season... for Buying a Car?; WomensWallStreet.com Reveals the Top 5 Car Buying Mistakes Women Make & How to Avoid Them this Year.

NEW YORK -- At the time of year when car buying peaks -- more cars are purchased between September and December than in the rest of the year combined -- WomensWallStreet.com sets out to steer women in the right direction.

Fifty-two percent of all new vehicle purchases are made by women -- impressive considering that in 1984 women made up only 20 percent of new car buyers.

"Not only that," says Pam Little, editor in chief of WomensWallStreet.com, "but women influence the purchase of 80 percent of all vehicles sold in the United States."

Unfortunately, according to a study by the University of California and Yale's school of Management, they also pay more -- around 2 percent on average. And when you're talking about a price tag in the tens of thousands, that can be a big difference.

So why do women tend to pay more than men for cars? WomensWallStreet.com with the help of Mary Butler, managing editor of Cars.com, reveal the five biggest mistakes women make when buying a car -- and provide tips on how to avoid them during the 2004 end of year blitz:

Mistake #1: We think we need a man to negotiate the sale -- That may be the biggest car-buying myth of all. A woman is just as capable of wheeling and dealing as a man, but women are more likely to admit they need help so they might bring their husband/significant other or a male friend along for moral support. As long as you do your homework and you're capable of sticking to your guns, you can hold your own at the bargaining table without a man to do the dirty work for you.

Mistake #2: We don't finance first -- If you're going to borrow money to buy a car, shop around for the best interest rate before going to the dealer. Check out your bank, credit union or online for car loans. If you pre-qualify for a car loan the same way you would for a mortgage, you'll know up front what you can afford and you can determine whether financing or leasing is the better option for you.

Mistake #3: We don't know how much the car really costs -- The key to getting a good deal on a car is to start negotiating at the invoice price (what the dealer actually paid for the car) and work your way up. If you start with the MSRP printed on the sticker and negotiate down, chances are you'll end up paying much more.

Mistake #4: We window shop at the dealership -- Shopping for a car is not a mall crawl. We go car shopping without having a clue what we want. Ignorance may be bliss, but not when it comes to buying a car. Before you set foot in the dealership you should know what kind of car you want, whether you're buying new or used, what features are must-haves, how much you're willing to spend and how you're going to pay for it (i.e., buy or lease). Knowing what you want will also prevent the dreaded falling-in-love-with-the-wrong-car syndrome.

Mistake #5: We're afraid to walk away -- If you're not getting the car or deal you want, be prepared to hit the road, saying to yourself as you go, "it's not personal, it's business." This is hard for many women, but it's one of the best negotiating tactics you can have in your arsenal when you're playing "let's make a deal" with a car salesperson. Be ready to walk, and they'll likely change their tune to meet your needs and make the sale.

To read the complete article and see all 10 car buying mistakes, visit www.WomensWallStreet.com.

And coming very, very soon: The WomensWallStreet.com relaunch. In addition to enhanced functionality and a great new design, the site has added new features, tools and columns, including Frankly Financial(TM), TaxMama(TM), Career Boost & Extreme Resume Makeover(TM) and Annie Jacobsen Speaks Out(TM). In addition, the site has partnered with Investor's Business Daily to provide enhanced tools and content for the savvy investor.