Things Not to Say When Buying a Car Feb 19, 2014
When shopping for a new car the first step is figuring out exactly what make, model, color and accessories you want. From there one would believe the hard part is over but simply showing up, picking out your car and signing on the dotted line is not the savviest way to go about a new car purchase.
Negotiation is a huge part of the car buying process and can end up saving or costing you a large chunk of change depending on how you handle the situation. Car salesman do this dance daily and are experts at getting the best deal for themselves while making the customer think they are winning “the battle”.
As a consumer, there are tips and tricks you can learn to get the best deal when shopping for a new car. People tend to think it’s what you do say that can make or break a deal but often times it’s what you don’t convey that will land you the best price possible. Below are 5 things not to say when buying a car.
“What do you think, sweetie?”
Dealers love indecisive couples! A car salesman can play a husband and wife against each other in an effort to get you to purchase more than you really want or need. Things such as “Your wife seems to really be concerned about safety and you want your family to be safe, right?” or “You husband really could get a lot of extra work done with the extended exterior package” are all things a dealer can and will say. Stay focused, know what you want and don’t become overly emotional.
“Here is how much I have to spend.”
Sure it might seem like a smart idea to let the dealer know what type of budget you’re working with but then the dealer knows how much money he or she can make off of you. That car you are looking to purchase all of a sudden is exactly “on budget” instead of being a few thousand less. If the dealer knows you can afford a forty-thousand dollar car, that’s the price he will sell you at. If he is unsure, then he is going to offer a better deal in an attempt to make the sale.
“I need a car as soon as possible”
The biggest leverage anyone has is the ability to walk away. Having an alternative in your back pocket puts you in a position of power but if the dealer recognizes you absolutely need a car now, he or she knows you can’t back out. Instead of creating a sense of urgency for yourself, keep the urgency on the dealer and his or her desire to get as many cars off the lot as possible.
“I guess all these fees are pretty standard, huh?”
Some fees are standard but others are probably not! You should expect to pay sales tax, title and things like that. Other fees are typically dealer fees. Ask to have them removed. The dealer can get them removed if they think you may walk away. This all goes back to the previous comment. If they know you can’t walk, they don’t need to remove those fees. If the dealer’s not sure if the deal will close, watch those fees magically disappear.
“I am trying to keep the monthly payments as low as possible”
When the dealer knows this, he or she can use various methods that make it seem like you are saving money when you really aren't. For example, the dealer can extend your financing period by a year or two which will indeed keep your monthly payment low but you end up spending thousands more in interest over that extra period of time.