There are two types of car buyers. There’s the buyer who loves to go to the dealer to haggle the price on a used car. Then there’s the person who hates going to the dealer so much that they’ll drive that old jalopy for years past its expiration date. For the latter, these tips make the car buying experience just a little easier.
Tricks Dealers Use on Car Buyers
Save yourself some grief by doing your best to follow these tips before stepping foot on the used car lot.
If you’re interested in purchasing a particular make and model of car, then look up the fair price for it on Kelley Blue Book (KBB.com) or Edmunds.com. Don’t go crazy thinking you should pay low wholesale when you’re a retail customer. The dealership needs to make a profit to stay in business, so be fair.
The Monthly Payment
Avoid talking in terms of your monthly payment. Already know what you can afford monthly before you go. Your monthly payment is not a negotiation point. You want a fair price. You can talk to the finance company about monthly payments. The salesman wants to sell you a car for more than it’s worth by talking only about a low monthly payment. Stay on the price topic.
Avoid the dealer’s financing choices. Your credit union or bank will likely have a fair auto loan rate for you. So, get pre-approved before you go to the dealer. Some dealers will pad your loan with a couple of points of interest for themselves when they are loan shopping for you.
The Pay Off
If the salesperson promises to pay off your car no matter how much you owe, then they plan to add all that excess money to your new loan. So, in the end you’ll be far overpaying for this newer car you’re getting. It’s better to take the loss on your current car. Just pay it off and negotiate a fair deal on this newer car.
Get it Checked Out
We’re happy to check out the condition of the car you’re thinking of purchasing. Give us a call and ask about our rates to take a look at your potentially new car. Good luck in your search for the perfect car for you.