Avoid getting ripped off at the dealership.
Posted on April 14, 2011
Filed Under Car Advice
Auto sales are up. If you are in the market for a new car you should educate yourself. Many automotive dealers are good and honest people and would like to help get you the best vehicle for the best price. Naturally, we are all familiar with stories of seedy characters at the used car lot who are really only worried with the money they would like to make off of you. This is an unfair stereotype, as are all stereotypes, but why wouldn’t you prevent yourself from falling victim to a scam especially on a purchase as large as a new car?
Negotiate every transaction. You are not just buying a car. You are picking a price for the car, you can get a trade-in value for your current car (if you have one) and then there is also financing. Savvy car salesmen will know that they have an opportunity to make money at each step at your expense. At each of these three steps you should be sure you are not being treated unfairly and you get a sensible price that fits your budget and not his wallet. When you were looking for Tampa used cars your goal was to save money, why would you go and end up spending or losing money where you don’t have to?
Think through your loan. While cars last much longer these days they still depreciate much faster than you are paying for them. You can get an attractive number for a monthly payment, but more than likely these loans will take many years to pay off and you will end up paying way more than the true worth of your car. This can even get you locked up in a rollover ruse – where you get a new car before you pay off your old one and end up rolling over the remaining payments to your new vehicle. You got a new Camaro, but you plan on getting the new 2012 45th anniversary edition from Bradenton Chevy and you end up paying off both cars just in time for the 65th anniversary Camaro to come out, not such a great plan.
Be wary of attractive price tags. In today’s world, when something is too good to be true it usually is. If you are told that you can get a new car for a low monthly payment there can be a catch. You will likely have to pay a larger down payment or a larger payment towards the end of your loan period. If the Cincinnati Ford Dealer offers you an insanely low down payment and monthly payments – raise your eyebrow in skepticism and negotiate a payment plan that fits your life.
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