How to Buy a Car
Once you’ve done your homework, both on yourself and the car you’re looking to purchase you’ll be much more comfortable when it comes to the “game”. Here’s a handful of sales “tricks” that your salesperson might try:
- “I won’t make any profit if I go any lower.” When you’ve done your research, know the difference between the MSRP and the invoice, you’ll know exactly how much profit the dealer stands to make. Use this as a leveraging tool for your benefit.
- “This car will be gone by tomorrow.” And another dealer will have another one just like it. Or you might even find one tomorrow that you like even better. Don’t ever feel pressured by time.
- “I don’t usually do this, but I will for you.” And what makes you so special? The salesperson may say this to build up a trust and report with you. Just remember, the number one goal for a salesperson is to sell that car, not to make a friend.
- “You don’t need to order a car. This color looks so good with your eyes!” You’re going to be making car payments for a while, make sure the car you get is the exact car that you want.
- “You have to buy an extended warranty to qualify for that loan rate.” Just say no to this one. Odds are, if you run the numbers, you’re not going to be saving all that much at all.
- “Your credit score is very low.” (when you have checked and know otherwise).
- “We’ll pay off your trade-in car loan.” This is just very, very messy. The dealer will never do this with no strings attached. Dealers will often say this, then tack on your pay off amount to your loan, inflating the base price of the car you’re buying.
- “The financing fell through.” (two weeks after you purchased the car). Avoid this by refusing to finance through a dealer if you have a credit score under 650.
- “This is the final price.” If the final price is not the price you can or want to pay, walk away. There’re many, many more car dealers that will be happy for your business.
Realize that invoice is NOT the lowest price you can pay for your car. Dealers often get rebates of several thousand dollars off of invoice, which means that they will probably still make a pretty penny from your sales even if you pay less than invoice.
If the salesperson that you’re speaking with states that he/she can’t go any lower in price, as to speak with their manager. The manager has the final call. If you still don’t get the deal you want or think there is any chance of getting a lower price, walk out. Chances are you’ll get a lower offer before you’re out the door and that will probably be the best deal you will get from that particular dealer. But, ask yourself, do you want to purchase a car from a dealer that is not completely honest and forthright with you? Remember, there may be warrantees and routine maintenance that will make you work with that dealership in the future. If the dealer isn’t honest when you’re purchasing your car, how honest will they be when it comes to maintenance of it?
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