Yahoo Finance I’m an Ex-Car Salesperson: 6 Tactics To Avoid a Purchase You’ll Regret
Getting a new car is exciting, but also nerve-wracking if you’re dealing with an aggressive salesman. However, there are ways to handle pushy dealers who try to persuade you into buying the wrong car — and come out on top.
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Here’s how.
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Research Is Key
In a YouTube video with Ben Hardy, an ex-car salesman, he emphasized the importance of research.
“Make sure you know as much as you can about the car that you’re purchasing. Make sure you know the specifications. What are the trim packages? What’s included in those trim packages? Are there options for the car? What’s included in those options?” he stated.
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Know the Market Value
According to Hardy, to have a shot at getting a deal, you need to know the market value of the car so you can make a reasonable offer.
“This is why you need to be well-researched so you can make an offer that’s going to make sense to the market on that car. Understand when you negotiate, it’s going to be based on the market of the car and you need to be well-versed in the market,” he said.
Don’t Be Immediately Concerned About Your Trade-In
According to Everyman Driver, a YouTube channel that helps you research car deals, “Dealers like to move around money to confuse you about how much money they’re getting in the deal. If you mention you have a trade-in upfront, you’re opening yourself up to a shell game. The salesperson may artificially inflate the trade-in allowance just to get you to say yes.”
Test Drive, But Don’t Buy the Car
When buying a car, setting your emotions aside is vital. If you’re too attached to the car, chances are you’ll make a bad financial decision — or end up with a car you didn’t actually want — Hardy explained.
“I will never buy a car right after I test drive it,” he said. “I always buy a car the next day, or the next week after I let all of the emotions settle down so that I can make a sound decision for myself.”
Watch Out for Rebates
To see which dealership has the best price, you need to shop around, Hardy stated. However, he also warned to watch out for rebates.
“Certain dealerships will advertise way more rebates than any consumer can qualify for and their price will be lower than their competitors, but you don’t actually qualify for that price,” he said.
Dealerships Are Trained To Negotiate
After you’ve done your research, understand the market value and have taken the car out for a spin — now you’re ready to negotiate. Here are three more quick tips, per Hardy, that could give you the upper hand.
Make sure you can walk out. If you can separate your emotions you’ll have the advantage.
Be realistic and don’t make a ridiculous offer. The dealership won’t work with you if you pursue the latter avenue.
Google what the markup is on the car you want, then make an offer that’s “barely out of bounds” so the dealer will take you seriously.
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This article originally appeared on GOBankingRates.com: I’m an Ex-Car Salesperson: 6 Tactics To Avoid a Purchase You’ll Regret
