Walking in a car lot or showroom could be a battle and the result is either walking away with your dream car or getting ripped off by the car dealer. Its best be prepared and know some of the mistakes that car buyers often commit that car dealers are also eyeing for. Below are the nine common errors most car buyers fail to realize when buying a used or brand new car.
Not researching about
important specs
Some car buyers simply trust the words of their car dealer
or the information given by the car manufacturer regarding some of the
important data such as gas mileage, crash rating and horsepower. Check at least
two credible sources confirming these data before buying a specific car model.
Car forums also serve as a good research center, especially that previously
owned a similar unit.
Window sticker is the
“final price”
The window sticker in front of a brand new car is what you
call the Manufacturer’s Suggested Retail Price (MSRP). Dealer discounts and
manufacturer’s rebates can be slashed from these MSRPs and should not be the
negotiating price of the unit. Check beforehand if the brand of the car has
promos, to ensure you don’t get ripped off.
Getting caught on the
“buy today” bait
You often hear it: promo, discount or rebate ends today. Don’t
get sucked in simply because you want to get that price off, if you buy today
syndrome. You came to the dealer lot or showroom to purchase a competitive car
that can accommodate your needs. Fact is, only one out of five customers return
to a showroom after they left, and this is all just to increase their
conversions.
Other types of this bait are the “freebies” from an umbrella
to oil changes, you name it. There is also a good chance that discount may
increase tomorrow, especially if they simply are forced to grab more sales.
Getting emotionally
attached to a car
You walked in a used car lot to check out, say, fully
researched Toyota Vios you personally researched and you have your budget set.
But when you saw the stylish Mazda 3- you get so emotionally attached and
bought the latter only to find out you spend more. The lesson, you buy a car
because of its function and how it fits into your life, before form (unless of
course you have wads to show).
Not getting a
mechanic check the car
Some car owners feel that owning their first car have made
them a car guru; and thus, neglecting to bring a professional or at least a
knowledgeable friend to have a second opinion. Bringing a mechanic in the shop
of a used car dealer could make him vulnerable and a little bit honest. Plus,
your mechanic friend may spot problems that the naked eye may find difficulty
finding, which is worth his service, especially when you are buying a high-end
car.
Paying on a monthly
basis (and looking the part)
If there is any customer that car dealers prey into, it’s
the guy who wants to pay via a financing option (especially loans). Whether you
are buying brand new or used cars, dealers would always first approach you with
“easy payment terms.” If you could buy it for a whole price, then go. If not,
the worst you could do is look the part for someone willing to pay monthly and
not having the opportunity to haggle (in case of buying a used car).
Bowing to the
“finance man”
There are three types of dealers in a car lot or showroom.
The dealer (sells you a car), the delivery coordinator (adds dealer options)
and the highest paid, most skillful of them all- the finance manager. Just be
wary of this guy and scrutinize every word he says.
Also, read the fine print of every document he hands to you.
Often, these guys rip you off by offering things like extended warranties,
theft protection, etc. in the promise that you will get a “better rate.”
Buying all the dealer
options
Tire covers, mags, dual climate air conditioning, leather
upholsteries, headrests DVD player, and more are just some of the equipments
your dealers (a.k.a. Delivery Coordinator) would try to get you hooked. There
is nothing wrong in getting some of these nifty add-ons, you must be warned
that this would also cost you a few ten thousand of pesos or more. Choose only
what you really need, not because the dealer said your car is incomplete
without any of these.
Not performing a test
drive
Either the car buyer was so enticed by the chit-chat with
the dealer or he has completely forgotten to do so. Often, a car buyer would
simply assume that he has driven this type of car (say a sedan) and knows how
they perform on the streets. A test drive gives you a chance to fully assess
the car’s handling and how it performs on curves. This is the last phase of
your review before signing those papers and should never be skipped.
About Carmudi
Philippines
Carmudi Philippines is a comprehensive online car portal that
displays the listings of brand new and used cars, motorcycles and commercial
vehicles from trusted vehicle dealers across the country. The website also has
a journal page, which contains
useful tips and resources covering the automotive industry.
Cheftonio
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