Top 5 Tips To Avoid Being Tricked by a Car Salesman
Kansas City Credit Union is here to save you money, make you money, and keep you out of the car dealership’s clutches. Let’s discuss what you can do to make sure you’re paying the right price for your car!
Do Your Research Ahead of Time.
Hopefully you’ve put some thought into what kind of car you want and why; most car buyers have looked into which car will best suit their needs – Luggage space? Heated seats? Decent gas mileage? You’ve figured out which features and technology you’ll need and you’ve narrowed down your options to the right car.
Look up prices ahead of time. Check resources like the Kelly Blue Book, Autotrader, or even TrueCar so that you’ll already have a reasonable price expectation walking into the dealership.
When the salesman wants to distract you with talk of monthly payments, remember to focus on the overall price of the car. To understate this concept, consider a $100 car that the salesman wants to sell for just $10 a month…for 12 months. If those are the numbers you’re working with, you’ll end up paying at least $120 for the $100 car. Crunch the numbers and make sure you’re addressing the overall price first.
Don’t Forget Your Financing Options!
Once you’ve settled on the car price, don’t get so caught up in the excitement that you sign away your income on the car loan. Dealerships can raise interest fees and pocket the difference; in fact, most dealership make the majority of their income from car loans and not from the actual car sale.
Bigger is better when it comes to down-payments. The more you can lay down upfront will save you loads of interest fees and financing charges.
Additionally, you can often get a better car loan from a credit union than from the dealership or the bank. Kansas City Credit Union is founded for your benefit – not for profit! We can’t wait to help you save money on the car of your dreams!
Bring Your Friend.
When you go to the dealership, don’t go alone. Take your friend, or your dad. Dealerships will often drag out the process until you’re so exhausted you’ll sign anything just to leave with a car. Don’t feel pressured into signing anything or into accepting what the salesman assures you is “the best he can do.” If you’re non-confrontational or relatively ignorant about cars (like most of us), take someone with you who knows cars and can get you the best deal. Please remember to treat your salesman respectfully; your car-buying companion should be able to argue reasonably with the salesman without being entitled or completely irrational. Stand your ground, and do it with an insightful car-knowing pal who’s got your back.
Inquire About Service Fees.
Don’t overpay on insurance that only prevents a small risk, and avoid any additional charges like transfer fees. Any convenience fees or surplus charges should be included in the car negotiation process.
Don’t Sign For the Whole Deal!
Free oil changes for life? It’s not the deal it appears to be. Even if you have the car for 30-40 years, you’ll never outweigh what you paid in “free” oil changes. Simply put, steer clear of any add-ons. For example, you can pay about $20 for a vin-etching kit and do it yourself instead of paying the dealership to do it for a lot more.
With KCCU at your side, buying a car will be less overwhelming and less intimidating. Let us help you discuss your options and figure out ways to buy the car you want at the price you need. Contact us online for more information today!
