Car selling is a very profitable business. This is why car salesmen are paid very well. It is said that salesmen who can sell cars can sell anything under the sun. More often than not, the true value of a car is never revealed to the prospect; there is always a markup and the manufacturers know this well. But they don’t do anything about it, or should I say, they don’t dare to do it. But how do you avoid getting ripped off by them? Here are some tips to consider:
1. Always buy a car off season, like Christmas. People are busy buying gifts, so you stand a better chance at negotiating. July to October is also a good time when dealers try to get rid of inventory to make space for newer models.
2. Check out as many online offers as possible and print out their quotes to show to your dealership. Signup for their newsletters and look out for rebates and incentives. FightingChance.com is a good place to do your research.
3. If you’re planning to get your car financed, get a copy of your credit information along with you. You can get it online at Equifax.com.
4. Never trade in a car that you still owe money on, the dealer will not pay it off on time and you will have to bear the late fees. If you really have to, take a commitment in writing so that you can later hold him responsible.
5. Never buy a car in desperation because the dealer will sense it and take advantage of you. Try to get a friend along with you for moral support, preferably someone who has good experience in buying cars.
6. Never pay more than $500 deposit if the car is not in stock, and always pay by credit card. This way, you can raise a dispute if the dealer tries to suck more money on the pretext of price escalation.
7. Don’t be forced into an extended warrantee on the pretext of being eligible for the loan. This is certainly not required for a loan to get approved. Additionally, the extended warrantee will not be provided by the company, but a third party. If you do want the extended warrantee, read the terms very carefully, quite a few things may not be covered. Get extended warrantee quotes at warrantydirect.com before visiting the dealership.
8. Stick with the included accessories provided with the car. Don’t buy a single extra accessory from the dealer – they markup the cost from 40% to over 2000%! This includes but is not limited to rust proofing, scotch guard, car alarm, paint sealant, detailing and pin striping, credit / insurance costs, extended warrantee, etc.
9. Don’t fall for the window etching scam. Dealers may tell you that it is required to get the loan as banks insist on it. This is a lie. You can get the car etch kit at an economical price at caretch.com.
10. Avoid getting cornered. Quite often, you will find that once a salesman is trying to convince you to buy, one by one more salesmen join you and try to wear you down and get you to hurry up and buy. Avoid being pushed by threatening to leave if they don’t stop this harassment.
11. Always insist on understanding the offer at your own pace. Salesmen or managers may try to skim through some details or go very fast for you to understand, just to confuse you. Stop them and make it clear that you’re a slow learner; it will take time for you to understand the stuff. Threaten to leave if they do not comply.
12. Don’t fall for the forced credit application when you’re buying a car on outright purchase terms. The dealer may tell you that it is the company policy or a requirement of the state laws. This is a lie; there is no such law anywhere that needs a credit application when you’re paying cash.
I hope you find these tips useful. If you would like to read more tips, you can visit http://www.bharatbhasha.com/automobiles.php for more free tips.