3 Car Buying Misconceptions You Should’ve Outgrown by Now
The Internet has a litany of blogs about car buying misconceptions for a reason: they don’t die, and only increase. While some of them are downright wrong, others are simply outdated. They may used to work in the past, but auto dealers and salespersons also learn from experience and adapt. If you don’t do the same, never expect to get the best deal out there.
Saving the Trade-In Up Your Sleeve
Waiting until the last minute to mention about your trade-in vehicle is a trick dealerships are accustomed to. If you think you’re going to lock in a better price just because you hid this card and suddenly spring it to the dealer out of nowhere, you’re just fooling yourself.
In reality, you’re just going to prolong the entire process. Whether you bring it up early or later during the negotiation makes little difference. The key is to know the fair market value of your trade-in vehicle and the one you’re planning to buy. In addition, you must discuss every aspect of the deal separately, and not just negotiate for your monthly repayment, to ensure you’d save down the road.
Buying on a Rainy Day
To think that dealerships would be desperate to get a sale whenever there’s a downpour and say yes to whatever price you want is nothing but an illusion. Especially in rainy states like Indiana, this myth is still well and alive.
If you test the validity of this decades-old belief, you’d actually discover that the lot is even more cramped with shoppers for great finds, like a used Chevrolet Cruze in Indianapolis, Fort Wayne, or South Bend, because all of you share this erroneous belief.
Reading the Contract Word for Word
Even if you must, you shouldn’t. If you do, you’d spend the whole day just absorbing whatever is in the contract. But most auto sales contracts are nothing but boilerplate regulated by the motor vehicle registry of the state.
You should, however, focus your attention on the numbers, particularly on the final price, applicable fees, and repayments, as well as the section about insurance, because they’re the ones that really define the quality of the deal.
Auto buying is already deep-seated in the American culture. However, it’s still your job to weed out beliefs that don’t make sense anymore in this day and age. It’s always good to learn about them, but not necessarily use them as a guide.