Car Buying Myths and Misconceptions

Edmunds.com

Car Buying Myths and Misconceptions

If you try to buy a car using these myths and dubious strategies, you'll be wasting your time and money.

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bassrockerx

i wanted to "buy" a car from a dealership that was about an hour away from my house. after renting a fiat 500 for two weeks (car was totalled was car shopping) i decided that i had to have the fiat but i could not afford a brand new one so i was shopping for used ones. i was per-aproved for a loan from a 3rd party so essentially i had cash in hand. I called the dealership and told them i lived far away and i was interested in the car and already had one and was shopping for a 2nd (kinda true they don't have to know that the 2013 i drove over there was not mine) and if we could agree on a price then i would drive over and buy the car. the "internet sales manager" told me that they would not agree on a price until i first test drove the car to make sure that i liked it. i told them i am very familiar with the vehicle and we just went round and i asked to speak with someone else that could help me but that guy refused so that was the end of the discussion! needless to say they did not sell a car that day! i ended up buying a Honda fit in-town and in the long run i guess it was a lot more practical and better for my family.

so yes "be prepared to walk out" is still true when you are shopping on the phone/online at least when there is some distance involved after buying quite a few vehicles recently my best advice is don't be afraid to say no even if you are on a time constraint to have a vehicle there will be others and you will find one.

dmblystone14

The best advice for buying a used car is preparation. Know what car you want and know what a fair price is. Use websites like Edmunds, NADA, and KBB to get an idea as to the value of a used car and use websites like autotrader and cargurus to get an idea of what other dealerships in the area are charging for the same or similar vehicles. Also if you have a trade-in do the same research on your current car as you're doing on the car you want to purchase. Too many people I know rely on their "I know a guy" car dealer to give them a fair deal. Well how do you know unless you do some research?

emajor

Today on "What's Hot", a 10-month old recycled car buying article. And a generic anodyne author-less review of the Sonata from the Edmunds motherhive. Yesterday it was a similarly flavorless review of the Malibu. Then the aging Elantra before that. Maybe tomorrow we'll get lucky and be served something spicy and "Hot" like the Versa!

gofortheneck

Car dealers are sleaze-balls. Car salespeople, to keep their jobs, must toe the sleaze-ball line.

A car dealer and salesperson will always try to get a feel for how informed (or stupid) the potential buyer and gauge their offer based on this analysis.

The one strategic tool that buyers rarely use (and I have ALWAYS used) is this: if the deal isn't good enough, WALK OUT.

90% of the time, the sleaze-balls will phone you in a day or two and offer you a deal on YOUR terms. If they don't, there are other dealerships.

But remember, you're negotiating with sleaze-balls!

330i_zhp

@go for the neck - I disagree. While that may have been the case 20 years ago, today's buyers are too informed, and if they get taken on a car deal, it's their own fault for not doing their homework (especially with used cars, as pricing isn't as cut-and

evodad

I agree with gofortheneck. especially when it comes to used car shopping there will always be a better deal out there if you don't get the one you want. My wife and I just went through this a few months ago, haggling with the dealer on price, we didn't need the car at the time so we were only going to buy if we got what we felt was a good deal. All the dealer wanted to do was push the fact that 'it's only an extra $10 or $20/month, I got tired of their crap and we left. Within two weeks we found a similar vehicle with 20k less miles and more features for only $1k more than what we were offering for the one at the dealer.

preston12

I am a salesman guys. All of your advice sounds well and good when you know nothing of the business. It may even work sometimes if you have a desperate sales person. Try to tell me you only have an hour and I will send you on your way after an attempt to reschedule you. If you don't reschedule you are still leaving cause I am not wasting my time on you. You cant buy a car in an hour PERIOD. Lie to me in any way and I will probably kick you out of the store. This includes people who lie about having a trade in, people who say they are buying and intend to lease, and any other lie. And if you try to strong arm me with the "I will go elsewhere routine" Then you better have done your homework and have a workable number for me. If you don't I will tell you to go shop elsewhere myself so that you are wasting someone elses time and not mine. Most deals today are internet deals with thousands off of MSRP. The commissions on these deals are usually around $100. I will not waste alot of time with someone only worth $100 to me. And that is what you are if your an internet customer. Remember that: you are nothing more than a $100 bill. ($70 after taxes) So ask yourself how hard you will work for that and how many hours you would spend on that. The figure in that the salesman will be 2 hours without a customer before and after you leave. So you need to factor 4 hours of his time on top of the hours you take from him. If your an internet customer your best bet is to get your online quote, be honest about your trade in and do not over inflate it's value because it will only disappoint you, and pay the internet price without negotiations and wastes of time. Internet pricing is for you to get a good deal and not have to negotiate. it doesn't exist for you to start at a low ball price and try to negotiate beyond it. It won't work so don't try it. A salesman is your advocate against the car lot management and ownership. Piss off your advocate with ficticious numbers or by wasting his valuable time and see how much help he is to you then.

preston12

dmblystone14 said:

The best advice for buying a used car is preparation. Know what car you want and know what a fair price is. Use websites like Edmunds, NADA, and KBB to get an idea as to the value of a used car and use websites like autotrader and cargurus to get an idea of what other dealerships in the area are charging for the same or similar vehicles. Also if you have a trade-in do the same research on your current car as you're doing on the car you want to purchase. Too many people I know rely on their "I know a guy" car dealer to give them a fair deal. Well how do you know unless you do some research?

The problem with you doing research is that most customers research based upon private and blue book values. Customers also tend to say a car in fair shape is in good shape so they hear what they want to hear. That is useless to a dealer and you wont get it. A dealer will either use your trade for retail or they will auction it depending on condition, year and mileage. If it is a retail then the dealer will have to repair it back to perfect shape and it isn't cheap. Then he needs to make a fair profit on it. If Kelley blue book says your car is worth $6000, then factor in that you will get $3500 if you are very lucky. You are losing $1500 on repairs the dealer will need to make and $1000 so the dealer can profit from the car when it sells. and it is only fair. The dealer is there to make money. You are trading in the car because you don't want the hassle of selling it yourself. If you want blue book value then put a for sale sign on it and bring the cash in when your old car is gone.

texases

What self-serving BS from our car salesman. I've bought my last two cars where the deal is done in an hour. A bit more time to finish up the paperwork. If a salesman can't nail down the price with me in 20 minutes, they're playing games.

stever

Twenty minutes? Slacker.

I just came from a local one price autoplex and shopped a Tucson and HR-V and had the price immediately. And they said if I found a cheaper price, they'd beat it by $500.

The salesperson I had emailed was out for surgery today (I just showed up unannounced). Another guy helped me and never once badgered me for contact info or pulled any other "tricks". I declined test drives (mostly just checking out the seating position and hatchiness) and when I was ready to leave, I didn't have to meet the manager or play any other games. Downright enjoyable experience.