If you’re looking to buy a car, then it’s important to know all the tips and tricks to ensure you’re getting the best deal. Sometimes, car salespeople may only be interested in the commission they’ll receive, not actually helping. Here are 17 things car salespeople don’t want you to know.
The Invoice Price Is Just the Beginning
Something a salesperson won’t tell you is that they receive deals from car manufacturers. This is supported by Wisebread, which writes, “The dealership gets dealer holdbacks, customer rebates, and factory-to-dealer incentives. This is money they can take off the sales price and offer to you, but they won’t just hand it over without a fight.”
Discuss Your Down Payment Strategically
If you reveal what your down payment is too early, then it can weaken your position when it comes to bargaining. This is because dealers may adjust the prices based on your down payment. Always wait until the final price is negotiated before telling a salesperson what your down payment is.
Monthly Payments Can Mislead
Try to focus on the total cost of the vehicle rather than what the monthly payments will be, as this means you may avoid overpaying. A dealer can manipulate loan terms by making monthly payments seem more affordable. Always try to calculate the total payment over the life of the loan.
Hail Damage Discounts May Not Be Deals
Try not to be fooled by hail damage discounts. Dealerships will often be compensated for any hail damage through their insurance. The discounts that have been put on damaged cars may not reflect the actual payout from insurers. If you’re looking to purchase a damaged car, then make sure to discuss the actual value of the discount.
After-Market Add-Ons Are Overpriced
Dealers will heavily mark up the price of non-factory options. Sometimes it’s cheaper for you to purchase any add-ons from another retailer, such as a mechanic or other car shops. If the car comes with add-ons you don’t need, then you can always negotiate to have them removed.
Internet Sales Departments Offer Better Deals
Buying a car online is a great way to compare deals. This is supported by NerdWallet, which writes, “The online car-shopping platform Edmunds has a car comparison tool that lets you view up to four cars side by side, with information like pricing, consumer ratings, standard features, and other specifications like engine power.”
Secure Financing Ahead of Time
If you’re looking to take your car out on loan, then try to obtain pre-approved financing before you purchase it, as this will give you an upper hand in negotiations. It’s common for dealerships to mark up interest rates on loans that they offer. Always make sure to compare loan rates from different lenders before heading to the dealership.
Misleading Pros and Cons Lists
Salespeople will usually create a pros and cons list to make their vehicles seem more appealing. If you need a pros and cons list, then try to create one yourself based on your own research. If you find a dealer too pushy with your list, then make sure to stand your ground.
Beware of Misleading Information
You should expect salespeople to exaggerate the suitability of the car based on your needs. You can always do your own research beforehand, so you know exactly what you need from your car. This will not only help you when it comes to assessing the vehicle’s capabilities but also its limitations.
Unnecessary Add-Ons Increase the Price
Carmoola writes, “Before you buy your car, you need to be ready and know when to say ‘no’ to offers. Ask yourself what extras you should get with a new car.” Expect dealers to try and sell you different add-ons, such as warranties and paint protection. Many of the add-ons they try to sell you won’t be beneficial.
The ‘Manager’s Approval’ Game
A car salesperson may use this tactic as a way to wear you down and pretend to negotiate on your behalf. You should keep in mind that all salespeople will know their bottom line and limits when it comes to negotiations. Always stay firm with your figure, and be prepared to walk away if they don’t agree.
Trade-In Values Can Be Manipulated
Dealers may adjust the value of your car to make your new one seem more appealing. Before trading in your old car, try to do some research so you know roughly how much it’s worth. If you know your vehicle’s value, you can negotiate the trade-in price before you do anything else.
The Illusion of the ‘Best’ Deal Just for You
A major sales tactic is that a car dealer may pretend to create a deal that’s just for you, but the truth is that it’s probably been used a number of times before. Car salespeople will use it as a tactic to make you feel unique and special and as a way to pressure you into making a sale.
GAP Insurance and Last-Minute Fees
One thing you should know before going to a dealership is that you’re not required to purchase GAP insurance there. Be prepared to refuse and pay last-minute fees, especially as it’s these fees that may catch you off guard. You can research and pay for GAP insurance at your own pace.
Understanding Leasing Terms and Costs
If you’re wanting to lease a car, then you should make sure you understand end-of-lease buyout options and any associated costs before you enter the dealership. Sometimes, leasing can be more expensive in the long run compared to buying. Always consider the total cost of leasing, including all the fees.
Dealerships Use High-Pressure Sales Tactics
It’s common for dealerships to use high-pressure tactics to try to get you to purchase a car. You can research these tactics before you head over so that you’re fully prepared for whatever they may throw at you. Always maintain control over any negotiations, and don’t be afraid to leave if you feel pressured.
The Illusion of the ‘Final Offer’
Dealers may present a “final offer” price to you as a sense of urgency so that you’ll purchase the car. However, don’t feel pressured into this. For example, Out of Your Rut writes, “If the final deal isn’t to your liking, get up and leave!” They need your business more than you need theirs.
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