7 Tricks Car Dealers Hope You Don’t KnowBuying a car isn’t always as simple as it may seem. Many seasoned car dealers have a number of tricks up their sleeves which they can use to their advantage. We’re not saying all car dealers are underhanded, of course! However, there are a few tactics you can use to help a sale go your way. Here are seven such ideas you can put into practice at your own convenience!
1. Look for Cars About to Get Sold
This one can be tricky, but it’s worth bearing in mind. Many car dealerships will have a few vehicles in stock which they want to be sold quickly. These may be used vehicles or ones which have been on the lot for a while. Be smart about the cars you look at. Are there any models set to get discontinued?
2. Don’t Go with Just One Dealer
As you’ll probably already know, shopping around can really pay off. The best way to do this is to look for the make and model of car you want and to compare with several dealerships online. It will also play in your favour to let a dealer know that you're shopping around. They will want to keep your interest with sharp pricing!
3. Stick with Who You Know
An alternative to the above is to remain loyal to certain salespeople. If you’ve bought a car from a particular dealer before, approach them for a deal. They’ll be keen to get you a reasonable price as a return customer.
4. Know Your Holdbacks
Holdbacks are what car dealers can use to help price their vehicles on advice from manufacturers. That can mean that said dealers may be able to accept deals below the asking price. However, this isn’t territory you should think about breaching, or negotiating on. Otherwise, you could lose the sale!
5. The Same Deal Will Be There Tomorrow
An old dealer trick is, of course, to suggest that a particular deal is time-limited. This is to motivate a buyer into committing to the purchase! Always know that you have the right to ‘sleep on' an offer. Don't be bullied or swayed by suggestions that you'll lose an opportunity if you leave it too long.
6. Stick to Your Guns
Finally, always stick to what you want, and what you know you want. There are many, many different tricks in the car dealer’s playbook. To be able to resist them all, you are going to need to stay firm and resolute.
7. Beware of Dealer Finance
Unfortunately it’s common for car dealer business managers to verbally promise you “I can get you an interest rate of 5.8%”, but when you show up on the day to pick up your car they give you a contract with an underlying interest rate is much higher than what was promised. Most people are excited to be getting their car so they just sign on the dotted line: big mistake. Make sure you get pre-approved for finance at a great rate BEFORE you start shopping at car dealerships.
AutoCarLoans can help you with both car buying and of course car finance. Call our team today on 1300 301 051 for some friendly, tailored advice.
DISCLAIMER : The thoughts and opinions conveyed on this website are those of the authors only and are of a general nature. This does not constitute financial or general advice to you from Auto Loans Group. You should seek your own independent advice from a professional which is specific to your circumstances before considering any of the items referred to in this article, including finance, insurance, and car buying.