Buying a new car can be an extremely stressful experience. You have to consider the purchase price, how much you’re going to have to pay per month, and whether or not your new vehicle will be able to keep both you and your family safe. It’s a lot for anyone to handle.
While we can’t really tell you what car you should be looking for at your local used car dealers or what you can expect from each make and model, we can provide you with some insider secrets that you can use to find a better deal. Just don’t tell anyone we told you, okay?
Four Car Buying Secrets That Can Give You an Advantage Over Your Local Car Dealership
- If the Model is Known to Depreciate Quickly, Lease It
- Those Aware of Their Credit History Get Better Deals
- Shopping at the End of the Month Could Mean a Sweeter Price
- Your Dealer Needs You More Than You Need Them
One of the biggest mistakes people make when buying a car is choosing to buy the really flashy model over something more family friendly, when they should probably just lease it. As the popular gearhead blog Road and Track details, sports cars depreciate a lot quicker than the average car, thanks to their more intensive upkeep needs. This means that once you’ve paid off the car, the resale value is going to be incredibly low. Do yourself a favor a buy what grows in value and lease what quickly depreciates.
According to the independent insurer Trusted Choice, knowledge is power when it comes to shopping for cars. Plenty of unsavory local car dealerships rely on their customers’ ignorance to make a bigger profit. One of the most common tricks is telling customers they have a poor credit history in hopes of ballooning their monthly payments. By researching your credit history ahead of time, you can call these jokers out on their shenanigans.
Like many sales professionals, your local car dealers operate on a commission. If they fail to meet their quota at the end of each month, they won’t receive that commission. Subsequently, if you want to get a great deal, you should visit your local car dealership at the end of the month when dealers are desperate to meet their quota. It’s kind of a dirty trick, but it can save you serious cash.
As the informational database on cars Edmunds.com points out, too many shoppers forget that dealers need shoppers more than shoppers need them. Think about it: you can always go find another dealer if you don’t like the deals you’re being offered, but it’s a lot harder to find new customers. Use this to your advantage. Let your dealer know you’ve spoken with other dealers, and tell them about the better deals they offered. You’ll be surprised how quickly they might change their tune.
Do you have a lot of experience with new car shopping? What are some of the tricks to getting good deals you’ve discovered? Let us know in the comment section below. Find more on this here.