How to Buy a Car in 2022: Dealership “Secrets” Revealed
What they don’t want you to know
It’s no secret that buying a car can be a daunting experience.
You’re spending a lot of money, and you want to make sure you’re getting the best deal possible. Unfortunately, many people fall for marketing gimmicks by dealerships and end up paying more than they should for a car.
In this article, we will reveal some of the secrets that dealers don’t want you to know!
By understanding these secrets, you can avoid being taken advantage of and get the best deal on your new car.
1. The Internet Age Vs. Selling Cars
The internet has changed the way we buy everything, and cars are no exception. In the past dealerships could occasionally sell a lemon because buyers didn’t have access to information about recalls or safety ratings.
Nowadays, however, it’s easy to find out everything you need to know about a car before you even step foot on a dealership lot. Do your research before you start shopping, and you’ll be in a much better position to negotiate.
2. Financing the Car, the Hidden Killer
The biggest mistake you can make is to finance your car through the dealership. They will almost always give you a higher interest rate than you could get from a bank or credit union. In addition, they may try to add extra products like extended warranties and gap insurance, which can end up costing you hundreds of dollars more.
If you’re going to finance your car, do it through a bank or credit union. You’ll almost always get a better interest rate and you won’t be pressured into buying extra products.
Or, you should consider leasing which has become a very popular choice in recent years. With leasing, you make monthly payments for the use of the car, but you don’t own it. At the end of the lease, you can either turn in the car or buy it for its residual value. Leasing has many advantages over buying, including lower monthly payments and not having to worry about repairs.
3. Pressure Tactics by the Dealer
One of the most common pressure tactics used by dealers is the “lowball trade-in offer.” They will give you a very low offer for your trade-in, and then try to make up the difference by raising the price of the car you’re buying.
Don’t fall for this! If they give you a low offer for your trade-in, just walk away. There are plenty of other dealers who will give you a fair price.
Another common pressure tactic is the “closing time” trick. The salesperson will tell you that they need to make a decision soon because the manager is about to leave, or they’re about to close up for the night.
Again, don’t fall for this! Always remember that you can walk away and get a better price elsewhere!
4. Advertising Tricks and Gimmicks
One of the most common tricks is advertising a car for a low price, but what dealers don’t tell you is that deal might only be factored with a low credit score or something else mentioned only in the fine print.
Another common advertising campaign is marketing the car as “as-is.” This means that the dealer won’t make any repairs and the car you’re buying is being sold without a warranty.
Always read the fine print and ask questions before you agree.
If you have good credit, you should be able to breeze by.
5. Don’t Hesitate to Take the Test Drive
Knowing what to look for during a test drive is critical to getting a good deal. You don’t necessarily need an eagle’s eye to look for all the faults during a few minutes of the test drive. Just have a shortlist of the aspects that need your attention.
Here is a short compilation of areas that need attention:
· Oil leaks
· Balding tires
· Usual wear on moving parts
· Doors/trunks open smoothly.
· Windows/power door locks work as usual.
· Look under mats
· Listen to the engine noise.
· Drive at low and high speeds
· Make an excellent tight U-turn.
6. Getting the Most for the Trade-In
If you’re planning on trading in your old car, there are a few things you can do to get the most for it. First, make sure you get an estimate from at least two different dealers. Then, use that estimate as leverage to get a better price from the dealer you’re buying from.
You can also try selling your car privately. This will usually get you more money than trading it in, but it takes a lot more work.
7. Try Leasing
Call us biased, but leasing is quickly becoming one of the best ways to own a car in 2022.
In addition to lower monthly payments, you don’t have to worry about repairs or maintenance. Plus, at the end of your lease, you can simply turn in the car and walk away.
Not to mention that you can also still buy the car for its residual value at lease end as well.
If you’re looking for a new car in 2022 and want to get the best deal possible be sure to keep leasing in mind!
Final Thoughts
Buying a car can be a stressful experience, but it doesn’t have to be. Just do your research and know what you’re getting into. And if you ever feel like you’re being pressured or taken advantage of — walk away!
Thankfully due to the advent of more internet-based dealerships, the car buying process is getting more transparent and easier for consumers.
But as with anything, there are always going to be a few bad apples. Just remember to stay calm, do your research, and don’t let anyone take advantage of you!
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