Used car buying myths are common & can range drastically. While some may be relatively harmless many times these common misconceptions can actually cost you money in the long run. At Never Say No Auto, we negotiate thousands of car deals every year, so we want to use our expertise to clarify a few of the more common myths. That way you can be confident you’re getting the best deal possible on your used car purchase. Here are the top 5 Used Car Buying Myths: DEBUNKED.
Car Guide Prices are the End-All-Be-All
Nope. Car Guides simply calculate prices by examining the trends in your area while adding more for optional equipment and subtracting for high mileage. Deductions for past damages or existing problems cannot be included in a car guide. Most dealerships go by car guide prices as well as their own experience. So it’s important to know that no matter how much you think you know about cars, the dealership will always have more information about what they are selling and will always be able to control the transaction better than you. Used car dealers negotiate hundreds of transactions each month. It is in your best interest to work with them (not against them) to help you get the best deal possible. Like buying a house, buying a used car is a major expense and a big decision. There are many misconceptions about what you should and shouldn’t do but if you research thoroughly, inspect the car lot before making any decisions and always take the car for a test drive, then you are sure to find the used car you’ve always wanted.
You Should Buy at the End of the Month
One of the older used car buying myths is that if you show up on the last day of the month you’ll score a killer deal. The reason people give you is that dealerships have to meet a sales quota & in order to get their numbers they would be willing to “take a loss” on a car just to get it off the lot. However, for the majority of quality dealerships this is simply not true. It is likely that the sales staff gets incentives and awards for meeting monthly goals or making the most sales in a month. But the fact that it’s based on a monthly calendar doesn’t really have anything to do with some great need that the dealer has to make a certain number of sales before the month ends. Be suspicious of anyone who gives you advice using phrases like “always” and “never” because buying a car isn’t a “one size fits all” scenario.
You Should Wait Until the Last Minute to Mention Your Trade-In
This myth is based on the idea that if you tell the salesperson up front that you’re trading in your car, they will talk you into paying too much for the car and accepting too little for your trade in. However, it can add hours to the amount of time you spend at the dealership because the entire trade-in evaluation won’t start until after the rest of the deal is negotiated, without really changing the amount you’ll receive for your trade-in. It also actually hurts you in the long run, because it eliminates your bargaining power when it comes to the trade-in. The fact is, this tactic adds absolutely nothing to the value of your trade. The actual cash value of your trade-in is what it is, whether you introduce it at the end of the process or at the beginning.
You Can Trick the Dealership Into Giving You A Better Deal
Car dealerships negotiate hundreds of transactions each month, you likely only buy a new car once every few years. Even if you consider yourself a good negotiator, the dealership will always have more information and be better able to control the transaction than you. That’s why it’s so important to research the dealership and make sure you’re buying from a trusted high quality dealer, like us. 🙂
A Warranty is a Scam
A warranty can often feel like a scam if you don’t know the details around it. If you don’t understand the length of the warranty or what it covers exactly, than it may appear useless. In reality, knowing what your warranty does and does not cover can help save you a lot of money in the long run. Also, just because you purchase a used car does not mean you have a warranty. Dealerships do not automatically give warranties of any kind. When you do get a warranty, it’s important that you understand exactly what is covered and for how long you will have the coverage. Definitely ask as many questions as necessary so you know exactly what is covered. The last thing you want is to think you are covered down the road only to discover your warranty ended months earlier. Make sure to ask us about our great warranty options!
There you have it our top 5 Used Car Buying Myths! Now if you have any additional questions about Never Say No Auto make sure to check out our FAQ’s page. Also, if you’d like to know more information about a specific vehicle start by Applying Online & one of our great team members will be in touch with you shortly.