Buying a new car is an incredible experience. The smell of the interior, the touch of the cold leather, and the negotiations with the salesperson are all exciting. Driving into the lot and realizing you’re going to leave with a new whip is something else. It’s the type of thing car-enthusiasts live for and can’t wait to do again and again.
Haggling over a deal isn’t a walk in the park, though. While dealers aren’t con artists or cowboys, they do try and get the best possible result for themselves and the company. This is one of the things no one tells you about buying a new car: you might get screwed.
You can accept it and get on with the process, or you can fight back. As long as you understand the tricks of the trade, it shouldn’t be too difficult to protect your purchase. With that in mind, underneath you’ll find the things that nobody warns you about when you’re in the market for a new vehicle.
Brokers Aren’t Gods
Some people go down the route of hiring a broker. After all, not everyone is a petrolhead who understands the mechanics of a car dealership. And, if you are, it’s nice to have a fresh pair of eyes to look over the agreement and make sure it’s legitimate. As their client, it’s the broker’s responsibility to do everything in their power to ensure you don’t get screwed.
Sadly, this isn’t always the case as they are negligent. What this means is that they provide you with info, knowingly or otherwise, that’s faulty. You use it to make a purchase and then WHAM – you’re stuck with an overpriced rust bucket. So much for being on your side. Get more information by following the link.
Keep in mind that while they’re experts, they don’t know everything. Therefore, it’s wise to ask for a second opinion from an alternate unbiased source. Also, watch out for unrealistic guarantees such as “I promise.” As a rule, it’s a sign of incompetence.
Honesty Is The Best Policy
Telling the sales rep what you are looking for and how much you’re willing to spend is suicide. Pop culture tells us they’ll use the information their advantage and sell you down the river. And, there’s a chance that this will happen at the contract signing. Of course, the flip side is that they are experienced professionals who understand the industry.
As such, a salesperson is a vital resource when used correctly. Sure, there’s no need to spill your guts and sing like a canary, yet a couple of facts aren’t secret busters. After all, they’ll be able to estimate your budget by the makes and models you ask to view. And, white lies about a possible trade-in will come to light straight away.
You might want to hold onto an ace card, such as the timeframe, but other than that it’s better to be honest. Trust your ability to spot jokers.
They Go Up To Come Down
With that being said, sales reps do have tricks up their sleeves which they’re happy to use. Seeing as you don’t want to pay over the odds, or want as cheap a rate as possible, it’s wise to be on the lookout. There are too many to mention so let’s focus on one: the rollercoaster ride. You can find the rest by clicking on the link.
This is when sales reps start off high and bring the figure down, seemingly offering a significant discount. However, you might notice that the number is just the retail value or slightly below. It only looks like a reduction because they’ve added accessories you never wanted in the first place.
The good thing is that on this rollercoaster, you can stop the ride.
It’s Not An Asset
Not really. Assets are things which appreciate, whereas a car loses 20% of its retail price within a year. Therefore, treating it as an investment in a company or stocks and shares is the wrong attitude. It’s important not to get screwed, but you’re not going to make much money off its resale value in the future.
With that in mind, don’t judge cars off the price alone. Yes, they should be within your budget, but they also need to add value to your life. If you have a family, this means an SUV with plenty of space in the trunk and backseat area.
Saving money is the savvier option, so look for a model which is fuel-efficient.