Ever felt vulnerable when it
comes to buying a new car? Don’t worry you are not alone, and we have a bunch
of tips for you to make sure you beat the dealer at his own game the next time
you buy any car.
There are a lot of
cars for sale out there and the Internet is full of great advice that will help
you get a great deal when you come to buying a new car. But we admit there is a
lot of information to find!
To save you the
time and stress of embarking on a mad search of information in Google, we sent
Hootsie and his owl friends on a mission last night while you were sleeping,
and he has found the best advice from the best sources on the web…
He has even put
them in a simple to digest list below. Well done Hootsie!!!
give a great spin on car buying advice by getting tips straight from the devil
himself, the car sales man. These guys know the tricks of the trade inside out,
they deal with selling new and used cars everyday while we buy a car once every
5 years perhaps, so who better to learn from. Here is what he said…
your time in researching the car you want, how much people are paying for it
and that people are saying about it. We at Carhoots are working on some awesome
features that will instantly give you this information from people who have
bought the car you are interested in. In the mean time you could go to a bunch
of places such as Edmunds.com and consumerreports.com and check out the web for
the latest car video reviews, and car photos etc.
2) Tell The Dealership You Are Just Looking
Go into the dealership and just look! You
won’t feel the pressure or the awkwardness and you can just relax and get up
close with the cars which will give you a nice feel of what you want.
Give In To Sales Pressure
Those Sales guys are good at what they do, it’s their livelihood, but don’t let
them take advantage of your vulnerability. When you have told them you are
interested in buying, still be prepared to walk out of the door if you feel
pressured and are uncomfortable. The same deal will be there tomorrow!
4) Check The Car Dealership Has The Car You Want
Dealers usually offer better deals on the cars they have in stock. And if they
don’t have the car you want they may pressure you into buying a different car
that you didn’t intend on buying. Most car dealerships will trade with other
dealerships but this may take a few days with no guarantee that other dealers
can supply you with the car. Otherwise you are wasting a lot of time.
5) Research Different Options That The Car Dealer Offers
Remember the dealer will most likely tie you up in knots with the jargon he
throws at you. If he tells you that you should be a used car instead of a new
car or the other way around, don’t make a decision there and then. Go home and
do more research. And bare this in mind… “Take any false urgency such as,
“This pre-owned car is a very special, rare, low-mileage car that may be
impossible to replace, “with two grains of salt””. How cheeky those sales guys
Payment Isn’t Lower Price
If a salesman offers to lower your monthly payment by changing the terms of a
loan or lease, he may not be offering much of anything. This is a common way to
present a more comfortable payment for you without having to lower his price
Be The First To Get A New Model
As cool as you may look to have the latest car on your drive, if you wait a
couple of month after the hype and demand has died down, you will generally get
a better deal when dealerships need to shift cars from their showroom.
the Future In Mind
yourself up to be in a good position to get your next car. If you are going to
purchase a car with little or no money down and you plan to replace it within
36 months, you will likely end up owing more money on the car than it’s worth.
This could create a cycle of taking negative equity from one car to another,
further burying yourself in a negative trade cycle.
lease it for a 36-month term, and you’ll end up with a paid contract at the end
of the lease. Nice!
9) How Much Did The Dealer Pay?
You can’t know the dealer’s hand in a casino,
but you can in a car dealership. “Knowledge is key,” says Michael
Royce, a former car salesman who now runs the website Beatthecarsalesman.com.
“One of the most important pieces of knowledge a car buyer needs is the
invoice price (the dealer’s cost) of the car he wants to buy. Fortunately, the
Internet makes getting that vital info easy.
10) Get a Quote for a Car Online
It’s 2013, you guys should be looking online not just to research but to get
prices. If you can get a cheaper car online then we are all happy. It can be a
great bargaining tool when you hit the dealership yourself too!
11) Forget About Leasing!
This is a popular discussion these days but Michael Royce makes it simple: “Dealerships
love to push leasing because it is so profitable for them, but leasing is
almost always a bad idea,” Royce says. “In a lease, you are simply
renting the vehicle for a set period of time. Once that term expires, you must
return the vehicle to the dealership with nothing to show for your years of
payments.” Makes sense doesn’t it!
12) Talk Finance and Trading After You Settle
On A Price
A dealer isn’t doing you any favors if he gives you a deal on the new car, and
then offers you $1,000 below market value on your trade-in. The new car, the
trade-in and financing are three separate negotiations – treat them as such.
It’s always in your interest to get the best possible price on each transaction;
that’s why you should do your research ahead of time. If the dealer isn’t
hitting the numbers you brought with you, shop or sell elsewhere.
13) Play It Cool
This is when you can start putting your poker face to good work. Ask questions,
stay calm and inspect and get to grips with the car, especially when you take
it for a spin. Salesmen hone in on emotional attachment, and it is said that
the customer who analyses a car gets a better deal than the person who falls in
love with a car. So like good old fonz… Be cool!!
14) Double Check The Contract
From cool to fool… please don’t be the latter. Check the details of the
contract and all the fees before you sign anything. Are the numbers what you
agreed on? Are any of the fees negotiable or just simply crazy?
Expect to pay sales tax, a destination
charge, title and registration fees, and a modest documentation fee ($50 to
$100 is reasonable, but don’t be surprised if dealers in some states charge up
to $300). Advertising charges, which are fees charged to the dealers by
manufacturers, often get passed right on to customers. Feel free to push back
on these, or at least demand a further break on the price of the vehicle. Then
there are things like the “dealer prep fee,” which Royce (Remember he
is the expert who was featured on MSNautos) characterizes as an outright scam.
“All vehicles must be prepped before being placed on the dealership
lot,” he says. “So you shouldn’t pay extra for it.” Works for me
15) Don’t Pay For Additional Dealership
In a last ditch attempt to make the most of your insecurity dealers will try
and sell you the most pointless services such as Window Vind etching and fabric
protection! PLEASE! Just walk away. You can do it all yourself if and when
needed for a fraction of the cost.
So there you have it, some of the best advice
from the best automotive sources on the internet. Pretty cool huh?
key message to take from this article comes from the famous words of Biff from
Back2theFuture; “Don’t be so gullible MCfly!”
There’s no doubt that most salesmen want to
get you into a car that you’ll be happy to own. It’s in their interest to make
you as comfortable as possible with the buying experience so that you’ll
recommend them to your friends, and then come back yourself when it’s time to
trade in for a new vehicle. But that doesn’t mean they’re not in the business
for the money.
your time, don’t rush and figure out for yourself and from other users what the
best car and deal is for you. Be smart,
don’t be gullible, and of course… be cool!