Purchasing a car is an exciting milestone primarily for first-time buyers. You put a lot of thought into what brand and model you want, as well as the features that you need. If you’re looking for a new Buick or GMC vehicle, check out this site, they have a lot of options. You can also research various reviews online to see which one would best suit your lifestyle.
After getting an idea of the car you want, there are still plenty of factors to consider such as your financing options and other legal documents involved in the transaction. You must find a reliable and trustworthy car dealer who will help you in every step of the way without deceiving you just to make a sale.
While not all salespeople trick buyers, there are still some who prey on unsuspecting customers. It’s best to be aware of the following red flags when talking to a car dealership representative:
- Using Very Flattering and Flowery Words
Some salespeople are notorious for covering up the disadvantages or negative factors of their products and highlighting only the good ones. This does not provide the customer with a holistic and accurate idea of how the car functions and how well it would operate on the road.
Watch out if the salesperson is laying on the charm too thickly; chances are, there’s something wrong with the car and the owner wants to get rid of it as soon as possible.
What you can do is to do your research online and arm yourself with the necessary information about your car prospects. Even if you haven’t decided on a particular model yet, you should know the market price of the vehicles on your list and the features that they have by researching car reviews online so that you won’t be fooled into buying something that won’t suit your needs.
- Going in Circles with the Price
A $29,999 price tag on a car seems too hefty that’s why some salespeople opt only to give monthly payments to shoppers.
This way, the cost of an expensive car does not sound too steep. Plus, they can get you to shell out more money by confusing you with financial jargon as well as persuading you to get car upgrades and extras that you don’t really need.
Ask for the all-inclusive cost of the automobile and compare it with the average price you found online. Request for a clear breakdown of the fees, interest rate, and other monetary values so that you know how much you’ll really end up paying once you have finished the payment timeframe.
- Ultra Affordable Loan Schemes
Car dealers who promise loans that anyone can afford are duping you into higher prices. Most of the time, these financing structures are stretched out into several years which compounds interest rates so you end up paying more for the car. What’s worse is that, by the time you complete the payment, the car’s value has already depreciated.
Aside from long loan terms, here are other financing tricks that some salespeople use:
- Yo-Yo Financing – Here, the dealer urges the customer to bring home the car they are looking at regardless of whether their loan has been approved or not.
Do not sign anything or get into the vehicle without knowing the financing details. The salesperson can easily trap you into paying a higher price by saying that your application has been rejected.
- Surefire Approval – If they guarantee approval on your loan application, the dealers may be covering up for another aspect of the vehicle.
It may be through the warranty or the loan term. Plus, no financial institution automatically approves all requests to borrow money since they still need to check your capabilities to pay back your debt.
- Upfront Deposit – This happens when the salesperson asks for your payment even before the loan and other contracts have been completed. An honest company would never get your money without setting clear terms for the transaction.
- Being Misleading With a Vehicle’s History
The worst kinds of dealers are those who would do anything for a sale including inappropriate actions such as title washing, which is the process of modifying a car’s title to conceal the fact that it was salvaged from floods or wreckage. They do this by moving the vehicle to a different state and polishing the exterior.
If you’re buying a second-hand car, examine the automobile closely including what’s under the hood, interior, and trunk. Check the bolts to see if they exhibit signs of wear and tear. If it does, the car has likely went through paintwork and may have been involved in a wreck.
Again, not all salespeople are out there to deceive their customers. However, it is only sensible for you to take their words with a grain of salt. They are, after all, working to get a sale so they should always put their products in a favorable light. You’d know, though, if a dealer is sincere with their transaction with you or not. Trust your gut.