Perhaps you’ve watched a movie where your favorite character falls for the oldest Car Salesmen Tricks in the book and felt really bad. Have you ever bought something only to find out that the seller intentionally misled you? It hurts really bad especially when you spent a fortune on the item.
The truth is that Car Dealers’ Tactics keep evolving frequently. However, you can become a smart buyer by paying attention to these 8 Car Dealership Lies described in this post.
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Car Salesmen Tricks you should look out for when shopping for a new car
1. Bait and Switch Trick
How does this trick work? A car dealership advertises a particular model on their website and social media pages. An interested buyer writes down the physical address and visits the dealership in order to purchase their desired car. However, the car salesman informs him or her that they’ve just run out of stock.
Sensing disappointment, the sly car salesman assures his potential buyer of a 20 % discount if he or she purchases a bigger and obviously more expensive car. The sound of a 20% discount sounds so appealing that some buyers don’t bother to analyze this new offer.
Learn More: 10 Tips on How to Sell Your Car Fast
2. Adding unnecessary car accessories
Car dealerships can increase the value of a car by including accessories such as baby car seats, aesthetic car door handles, winter floor mats, just to name a few. While these items are relatively affordable, sly car salesmen adjust the car’s price beyond a reasonable value. Plus, since the dealership most likely purchased inferior quality car accessories, you don’t get value for money.
3. Shell games
A shell game is whereby a con artist presents false items or facts in order to mislead players. The most common is whereby someone hides a coin under a cup then rotates it among three others on a table and asks observers to point out the cup concealing the coin. Usually, the con artist wins because he or she relies on dirty tricks to transfer the coin to a different cup.
When it comes to car purchases, a car salesman will allow you to bring your vehicle for a trade-in but they’ll also quickly adjust the price of the car you want to buy. Perhaps you want to purchase a particular car on credit due to its modest price and affordable monthly repayment plan. However, the salesperson says that you need to pay 30 % upfront or sign a longer repayment plan irrespective of your credit score.
4. Telling you that your monthly installment is more important than the repayment period
When purchasing a car using an auto loan, the car salesman wants to reap the most profit in interest charges. So, he or she will persuade you to go for the most affordable monthly installment. The car sales representative will go on further to tell you how choosing this plan will help you save enough money as opposed to the installments in shorter repayment periods. However, the car salesman is only looking out for their pockets.
If you take some time to add up your initial deposit plus all monthly installments in each plan, you’ll realize one important fact. The longer your repayment period, the more money you pay in interest charges.
5. Delay tactics when it comes to trade-ins
Crafty car salesmen use this trap a lot when dealing with buyers who want trade-ins. These car salesmen deliberately frustrate the buyer by delaying the trade-in process. Out of impatience, the poor buyer settles for the car sales representative deal.
When a potential car buyer who wants a trade- in happens to visit the wrong dealership, the salesman hands out some forms. Next, he or she takes the filled out forms to his supervisor. After a week, the car buyer rings to follow up on their trade-in but the salesman informs them that it will take another week. Why? Because the sales manager and general manager have to review the application.
If the sly car sales representative sensed your desperation for a new car, they will sweet talk you into trading -in your car for a lesser value. Later on, you realize that the dealership bought your car really low but sold you an overpriced vehicle.
6. Lying about the condition of a used-car
Most first -time car buyers looking for used-car buyers fall prey to this trick.
A potential buyer walks into a used-car lot and spots a car that fascinates them. On closer inspection, they notice some defects on the hood and front doors. When they ask what happened, the car salesman assures them that it’s nothing to worry about because the car was in the sun for too long. However, it’s a lie. Experienced car buyers notice those same defects and realize that the car recently suffered a major accident.
7. Yo-yo deals
Yo-yo deals work like bait and switch traps. They are unethical because they consist of deception.
How does a yo-yo deal work? A potential buyer walks into a car dealership and spots a car she likes. The car salesman informs her that she can get a really good financing deal. Excited, she quickly fills out the necessary forms and drives home in a new car. For those of you who do not have a w2 job but work self-employed, this is an especially dangerous trick to watch out for.
After a couple of weeks, the dealership calls the buyer with bad news. The car salesman informs her that her original car financing plan fell through because she had a low credit rating. In order to maintain her new vehicle, she needs to agree to an expensive car refinancing deal.
8. Special offer
Car salesmen use this trick to prevent you from negotiating for a better buying price.
You might walk into a car dealership and a salesman informs you that they have a special 30-day offer on all cars. This is a lie because the salesman already knows that potential car buyers get excited whenever they hear about ongoing offers. In this situation, he or she will convince you to purchase an expensive car that wasn’t in your budget.
Stay ahead of these Car Dealership tactics
If you’re planning to purchase a car for the first time, that’s probably because you have friends who already own cars. Make sure you tag them along whenever visiting car dealerships in your city or state because their experience with car salesmen will prevent you from losing money.
Also, make sure you check the value of the car before signing any forms. You can get a free car valuation at Confused.
Complete Auto Loans uses transparent methods to check your credit rating. You also have the freedom to compare auto loan interest rates when looking for special car financing plans.