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Buying that new car at the dealers can often be filled with a
number of mistakes that tip off the car salesman as to the
ignorance of the buyer. He or she will often then proceed to
take advantage of unsuspecting customers (victims). By being
informed, though, as to things that should be avoided, you can
come away knowing that you got the deal on your car loan that
you wanted. Here are some things you want to avoid.
1. Dressing Up For Car Shopping
If you come into the car dealership with a lot of fancy
clothes, jewelry and gold, you really can forget about being
offered a good deal. They certainly will look for clues as to
what kind of deals to offer their clients, and will gear the
deal to what they perceive the people can afford. Also, if you
drive in with a Porsche – expect to pay a higher price than
others on your next car.
2. Buying At End Of Season
Every year, when it comes time for the new cars to arrive, all
the older models are reduced in order to make room for the new
ones. Sometimes, however, the dealer may not advertise the
reduced prices in order to see if there is someone who will walk
in and buy it at the original price. Sure enough, there often
will be somebody who has not done some homework and found out
that the same model was reduced $6,000 a month earlier. Or,
possibly, worse yet, he or she could have bought the new model
for just $1,000 more.
3. Show Too Much Emotion Over A Car You Like
If you give the impression that you really love a certain car
and must have it now type of approach, the salesman will play on
this. He or she knows that your emotions will lead you to buy it
- even if the price is not quite right. This means they will
most likely not be as flexible with their offers as you want
them to be.
4. Don’t Be In A Hurry
Giving the impression that you are in a hurry tells the
salesperson that you may not have time to think things through.
This will encourage them to aim high and not give you the deal
you would like to have. Instead, you want to give the salesman
the impression you are not in a hurry, and this will force them
to make their best offer before you walk out the door.
5. Finance Through The Car Dealer
This could be a serious mistake because – in many cases – you
could get better financial terms by getting preapproved for a
car loan. Dealers are sometimes notorious for adding charges, or
making a bait and switch auto loan which gives you higher terms
than what you initially thought you were getting.
6. Failing To Research The Car’s Value Before You Buy
Dealers often post high prices because they know that most
people like to negotiate. This means that if you pay the initial
offer, that you are giving them more than even they had hoped
for. This leaves room for serious negotiation, but you need to
know what the car is really going for on the market to be able
to make the best deals.
A little homework on your part will enable you to be certain
that you are prepared to do business. It will also help you get
the car and the auto loan deal you wanted and will be proud of -
proud enough to tell your friends and family.
About The Author: Joe Kenny writes for the UK personal finance
site http://www.ukpersonalloanstore.co.uk/ and also for US
residents, http://www.rebuild.org/
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http://www.isnare.com/html.php?aid=166927
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