Top 10 Myths about Buying New Cars
There is a lot of car-buying myths out there. You can go from knowing the right weather or the right date when buying a new car. While most of those are harmless, some of those car myths may waste your time and money.
In this article, we would like to bust some car buying myths to clarify some misconceptions most people believe in terms of buying a car.
Cash payment can get you a better price.
Though cash payment may work better in some purchases, this might not be the case when buying a new car. The car dealership usually gets incentives when you avail of the financing option. This, therefore, demotivates them to give a discount on a cash deal.
The internet is the place to score the best car deals.
Car prices posted online in car websites are not the actual price of the vehicles. It is usually the price if you are going to pay in cash.
There will be some changes in the price and computation when you are going for financing or trade-in options.
Use the internet to compare prices and specifications but never assume that the prices are accurate.
Lower price means a better deal.
Different car buyers focus on different factors. Some may look at the total cash price, interest rate or monthly amortization. These numbers can be used to make a deal look better than the other. It is much better to do the math as a whole.
It’s better to bring your own financing.
Doing this may be the same as paying cash which means lesser chances of getting a discount. Carmakers usually give great discounts to encourage more sales. So, it is much better to compute and compare the two before making your final decision.
The last day of the month is the best time to buy a car.
You can never be sure if the car dealership is far or near their sales target. Or maybe there is none. So, even if you go there on the last day of the month (and they have already reached their target), you might still not get the deal that you want.
Buying early while the deal lasts.
A limited time offer is a popular marketing strategy. Unless you are buying a limited edition car, there is a possibility that you can get the same deal next week or next month.
It can be in the form of a rebate or lower interest rate. However, the amount you are going to pay is still the same.
Special ordering is more expensive.
Special ordering can actually save you money especially on European cars (which can be modified in many ways). This works best if you are willing to wait for a few weeks to get your new car.
Waiting the last minute before mentioning the trade-in.
This trick is already known to most dealerships. Though you think it will work, it actually does not do anything to change the price of the new car unless you mention it early on. The best thing to do is to research about the current price of your trade-in, so you can get a fair deal.
You can trick the dealership into a good deal.
Though you think you are a good negotiator, the car dealership has more resources and experience when it comes to negotiation. They are making hundreds of transactions and they have more information about the car.
You have to avail of the dealer’s car servicing.
You do not necessarily need to have your car serviced in the dealership where you bought it from. You can bring it to any car service center or dealership nearest you.
And that was about it. We hope that we have helped you with these myth-busting facts. You are sure to be ready to buy your new car.
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