It doesn’t have to be a brand new car, and it might just be a new-to-you car. Whatever the case may be, buying a car can be a very large purchase in a person’s life. This means that it can also be a very stressful purchase in a person’s life.
No one wants to make a mistake and buy something that is a dud, and no one wants to spend too much money and be ripped off.
Below are different car sales tactics that you may want to watch out for.
Thinking only about the monthly payment.
One car sales tactic that you might experience is when a car dealership tries to sell you a car all on the monthly payment. You should never just think about the monthly payment, because most of the time they can stretch it over 74 or 84 months. That can make the car seem more affordable, but it probably is not.
Not only will they do this, most (probably all) car dealerships will try to fit in extras into your monthly payment as well. This then makes a $1,000 add on to your car just a small extra monthly payment, such as $10 per month. It then seems more affordable to you so then you say yes. Before you know it, once you add in interest fees and all of the extras, the car you thought you could afford is actually much more expensive. Just because the car is spread out over years doesn’t mean that it is affordable.
Instead, you should think about the total cost of the car. Can you afford the total cost? I’m sure that most people will not want to be paying the same high monthly car payment on a car that is 7 or 8 years old…
The false rush.
You should never buy a car in a rush. No matter what the dealership is telling you, you can always get something similar later on or even at another dealership. Don’t let the false sense of urgency make you feel like you need to spend money on something that you are not sure about.
Also, don’t let them fool you into thinking that someone else is about to buy the car. Yes, this does happen, but you should never buy a car in a sense of urgency. Always do your research and make sure you are ready to buy a car before you throw yourself into the situation.
High interest fees.
If you are getting a car loan, you should always shop separately first. Most car dealerships offer slightly higher interest rates in many cases since they do need to make money. Instead, you might want to shop around at your bank or at a local credit union before you decide on a car loan.
What car sales tactics have you witnessed?
Image via Flickr by Roland Tanglao