1o Things Your Car Dealer Loves To Hear, part 2 of 2. Continued from Part 1
6. What Kind Of Financing Do You Have?
The car dealer loves to hear you ask that one. That is the opportunity for the salesman to start asking questions about payment requirements and ultimately guide you to car dealer’s desired path. When a car dealer sells a car for cash they are usually only able to make a profit on the car and trade in. When financing comes into the picture there is a whole new world of potential profit to be made. Keep your financing matters separate from trade in and the car being purchased. You don’t need to worry about financing until you have selected the car you want for the price you want and received a trade in value that you are willing to accept. When you do your homework before going out to buy a car you will know what kind of interest rate and term you have from a local lender or bank. When all the pricing details are worked out, then you can bring up financing and require the car dealer to beat your rate and term that you have already secured ( never say to the car dealer).
7. My Credit Is Pretty Good
There goes that cash register again, just what the car dealer loves to hear. Your credit is pretty good, but you really don’t know that for a fact. You are assuming your credit is good. Very often in this scenario the car dealer will run your credit and find that your score is very good, but they may tell you that your credit is OK. This is the perfect time for your salesman to present you with an interest rate that is higher than the rate you actually qualify for (see Interest Rate Scam). To keep from being scammed of thousands of dollars of extra interest you need to know your credit score before you go to the car dealer. Don’t tell the car dealer what they love to hear or you might get stuck with one of the car buying scams ( never say to the car dealer).
8. What Do You Think?
Just what the car dealer loves to hear, when you turn to the person that came with you and you say “what do you think”. You just opened up a dialogue with the person next to you, whether it is a spouse, parent or significant other. Just the nature of the question says you are on board, but you need a little nudge. The nudge can come from your partner or maybe your sales person if they play their cards right. If the person that has accompanied you voices an objection your sales person hears the objection and can overcome the objection. Do your homework before you get to the car dealer. The car dealer loves to hear that you are close to making an emotional decision when buying a car. If your priorities have changed after one of you have been influenced by the car dealer sales person, ask them to give you a minute if you need to discuss your decision. Discuss your options privately and logically before making such a large commitment (never say to the car dealer).
9. Can I Get A Longer Warranty?
Every car dealer loves to hear this question. That is a buying signal, it says that you have practically bought the car in your head. The car dealer feels that you have pictured buying the car in your head and your biggest objection at the moment is an extended warranty (one of the biggest sources for potential profit and car buying scams in the dealership). Now you can see why the car dealer loves to hear this question. If I have not said it enough, do your homework. You can get quotes for an extended warranty for a variety of terms and assorted plans. If an extended warranty is important to you, you can be armed with a selection of quotes to use as a comparison to the dealer’s extended warranty offerings. This will protect you from spending your hard earned money wastefully ( never say to the car dealer).
10. Are These Extra Charges Normal?
The car dealer may have a habit of adding extras in to a car deal when you ask this questions that car dealers love to hear. This question will immediately tell them you have not done your homework and you are a good candidate for adding items onto the paperwork and a car scam. You may be overwhelmed by the process of buying a car, but it is your money and you need to question every dollar that you are spending. The only extra charges that should be included in your purchase are ones that you have agreed to.
Some dealers have been know to try and slip in extra charges for loan insurance, rustproofing, paint protection, dealer prep and other things as a way to increase the finance managers commission and the car dealers profit. Question everything, the only charges that should be added are sales tax, title and license. Anything else and you deserve an explanation that is acceptable to you. If it is not OK with you, tell the car dealer that you are not paying for that (never say to the car dealer).
I don’t know how many times I have said that you need to do your homework. I hope it was enough. By investing the time and energy to research all aspects of your car purchase you can potentially save thousands of dollars by avoiding car scams. I don’t know about you, but a few hours is definitely worth a few thousand dollars to me.