How Dealerships Are Taking Advantage of You with No Remorse
It is hard to walk into a car dealer and get the best price from an honest employee. No, in fact, when going to buy a new or used car, most people will end up getting taken advantage of multiple employees. While this is the case for most unprepared consumers, you can fight the battle when you prepare for the day at the dealer. With this in mind, here are five ways in which car dealerships take advantage of customers.
Fail to get a good price: All-too-often, a buyer will walk into the dealer, ask a few questions and agree to buy a car. Now, this is not smart for a number of reasons. Vehicle prices are not easy to guess as there are too many variables. Suffice to say, when selling a car on the lot, one has a lot of leeway on the price. To prepare for the process, a potential buyer should know the car he or she wants. Not only that, the client should have an idea on the accessories he or she desires in a vehicle. Then, before heading gout of the house, a consumer should check the value of the automobile. With this information, a prepared buyer can walk in with confidence and make a great offer. Otherwise, a buyer will be at the mercy of the car salesperson.
Fake charges: To pad the bill, a seller will often try to add fake chargers such as a delivery charge or a fee for under coating. To avoid this, you must prepare to walk away from the transaction. Since the salesperson is usually bluffing, this is an easy way to get the price knocked down a little.
Financing: After seemingly landing a dream car, some salespeople will play games. In fact, most will play games in the financing arena. The dealer will ask that the customer finance in house. This is usually not the best idea as asking, “how much is car insurance?” is always at the expense of the buyer. Instead, you should have your financing lined up before heading out to look at vehicles. Then, when talking to the salesperson, a buyer should mention that he or she will finance with a third-party. This is tricky. A buyer should only offer this once he or she agrees on the final price. Of course, to get the most out of the purchase you should take a look at the dealer financing options as some offer great deals on vehicle loans. Either way, when having this information before arriving, you can get the best deal and avoid getting taken advantage of by the salesperson.
Warranty: When buying a new automobile, you do not need a warranty. This is often too expensive, and the manufacturer already covers most issues for a long time. Not only that, when carrying a warranty, many consumers will find out later on that the company will try to get out of paying on the claim. If you still want more peace of mind, you should buy a third-party warranty as you can enjoy more coverage for a lower cost.
Fake approval: Often, while working the client, an employee will lie to the buyer and tell him or her that they need to verify something or get approval from a manager. This tactic is common for an employee who wants to exploit a nervous buyer. Usually, when doing this, a salesperson will go in another room and waits for his or her potential buyer to sweat and do more thinking. Without a doubt, this is something that you should avoid. To do so, when the salesperson mentions this, a potential buyer should express his or her concern and prepare to head out the barn door.
Remember, cars value diminishes quickly and there is plenty of competition from other excited and motivated sellers. For this reason, when buying a car, make sure you negotiate the price and get the best deal.