One of the more fun parts of being a wealth advisor is when I get to remind a client that, really, much of the point of wealth management is to someday spend that wealth (or share it with others to spend). As hard as our riches sometimes come to us, it can be hard to shake loose of them, even when it’s okay to do so. Recently, I experienced some spending angst first-hand when I replaced my 13-year-old Mazda Miata (I love that car!) with a shiny, new Acura MDX.

I rather enjoyed the shopping experience, at least the part that didn’t involve plunking down my money. It was fun to pore over the catalogs and the actual cars on the lots. I liked exploring the options, test-driving the finalists, and narrowing it down to THE car.

The part that wasn’t fun was ensuring that we paid a fair price, without haggling and without spending too much time on it. My wife Šárka and I, being the methodical, financial planner/lawyer types that we are, devised a straightforward system that enabled us to pretty much eliminate the face-to-face negotiation with the dealer. Key components included completing some modest research up front, submitting my “request for proposal” to multiple dealers via fax, and narrowing my selection based on response. This helped me minimize actual dealer interface, since the price and specifications had already been settled before I met the dealer.

Click here to read my step-by-step process for buying my new car. Do you have a car-purchasing tip of your own? Share it here with me and others!