Sooner or later everybody has to buy a new car. Every car buyer knows that there are tricks to getting a car at a reasonable price. The savvy buyer will know that they can talk the dealership’s prices down a little bit, if he/she knows the dealer’s lingo and tricks beforehand and shows that he/she are prepared to deal with them. If you have ever wanted to get your money’s worth out of buying a car, then this will be your comprehensive guide to getting through all of the bull and getting a car at a good price.
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Introduction
How to Buy a Car Without Getting Ripped Off Sooner or later everybody has to buy a new car. It doesn’t matter if it’s your third new car or your first, it is inevitable. Of course, everyone knows that there is an art to buying a new car that everyone must know sooner or later. Every car buyer knows that there are tricks to getting a car at a reasonable price. Dealerships and private sellers rarely mark the car’s actual worth. Instead, they mark the price up a little so that they can...
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So You Wanna Buy A Car?
? The first thing that you should know when you want to buy a new car is that both you and the dealer are looking to get the better end of the deal. If you don’t learn anything else from this book you will learn how to walk away from the deal with both sides being satisfied. A good deal is a win, win situation for both parties. Most of the time it is the buyer that leaves unsatisfied. In this day and age a car is no longer a luxury, but a necessity. You will likely have to purchase a...
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What You Should Never Do
There are many things that you don’t want to see a dealership do to you as a buyer, but there are some things that you should not do as well, if you don’t want to alienate the dealer. Here is a list of “don’ts” that you should abide by if you are really looking to get a good deal. • Don’t try to pull one over on the dealer by lying about the condition of your trade in vehicle. It is just a lie that you can’t get away with, and could cause many cost increases later. • Don’t bother...
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Common Phrases and Word Games
Buying a new car is just like buying anything else on the market. Salesmen are trained not to take no for an answer, and many word games and phrases come into play in order for them to get you to close the deal. Advertisers and marketers are there to mess with your head so that they can make you buy things. Some of the best words and phrases that make a consumer buy products are amazingly well worded, while others are not. Think about it - when marketers use carefully written...
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The Top 10 Dealership Scams -Part 1
1. The VIN# window etching scam Basically a dealer will charge you $300-$900 for window etching and they will tell you that you have to pay the money to get the loan because the banks insists on it. Some dealers might tell you that the etching is free but will add on the etch money to your monthly payments to make up for it. The best way to avoid this scam is to force the dealer to put it in writing if they say that the etching is free or simply etch the car yourself. You can get an...
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The Top 10 Dealership Scams -Part 2
4. The Forced Warranty Scam This is when the finance manager tells you that you are not eligible for the loan by the bank unless you pay an extra $2000 for a 2-3 year extended warranty. This scam just doesn’t make sense. Basically the finance manager is telling you that the bank won’t trust you to pay the $20,000 loan for the car, but they will trust you if you pay even more money. That’s just stupid. You can avoid this scam if you can force them to put it in writing that you “have” to...
- The Top 10 Dealership Scams -Part 3
7. The Payoff Your Loan Scam This is when the dealer offers to pay off the balance of your current car loan no matter how much money you still owe. It is a common sales strategy. When the average buyer hears it, they think that by purchasing a new car with a new dealership, they will automatically owe no more money on their current car. That couldn’t be further from the truth. What really happens is that the dealership does help you get out of your current contract; however, they...
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How to Avoid Car Refinance Scams
Purchasing a new car from the dealership leaves you open to dealership scams, but what about when you need to refinance your car loan? Many of the scams are the same as you will encounter when buying a car. Here are the best tips for avoiding any of the refinance scams that dealerships force you through. • Get your own credit score and bring it with you to the dealership • Don’t pay a cash deposit for your financing loan because if the deal goes bad, you can’t get your deposit back...
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The Buyer’s Folder
Whenever you are considering getting a new car, you should be sure to bring all of the information that will help you to get the best deal you can. This will all be included in your “folder”. Here is a list of all of the information that you will want to include in your folder. • A copy of your credit report from www.Truecredit.com • New car purchase prices for the cars that you are considering from www.autousa.com • Accurate pricing data, rebates, tips and incentive from...
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How Much Money Should I Offer the Dealer? -Part 1
How Much Money Should I Offer the Dealer? -Part 1 When you go into a dealership, you want to know all of the pricing and costs of the car that you are looking into buying, as mentioned earlier. You should know the manufacturer’s cost and the dealer’s cost. You need to calculate the cost that the dealer paid for the car and then make a reasonable offer to him if you want to get somewhere. You should also know that the dealer’s price is not the invoice price from the factory. You should...
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How Much Money Should I Offer the Dealer? -Part 2
How Much Money Should I Offer the Dealer? -Part 2 Dealers are always going to try and tell you that they paid less for the cars than they actually did so that they can make a higher profit off of the sale. Salesmen often try and make you feel guilty by telling you “I’m losing my shirt off of this deal”. In truth, you are the one that is losing your shirt off of the deal, so don’t buy into it. To calculate what your offer should be to the dealership, you should get the factory...
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Negotiating Tips
Being a good negotiator doesn’t have to be difficult. Sooner or later everyone has to negotiate with someone if they want to get a good deal on a purchase. When you are trying to negotiate with a car dealer, you should know that they are very practiced in the art already. You will need to know how to get through their “car speak” in order to be successful. Since you now know how to calculate your offer and already know what the dealer paid for it, you should get a copy of the...
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What Kind of Buyer Am I?
? If you want to save money while you are negotiating you should negotiate from the dealer cost up and not from the MSRP down. You just need to remember that dealer cost is not the same as the factory invoice. Some dealerships refuse to haggle over the cost of a car. Once you make your opening offer you should never accept anything higher than that, as far as costs go. If the dealership that you go to doesn’t haggle, don’t sweat it, some other dealership will. The reason some...
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Some Sales Scams - Part 1
As I’ve said before, there are many ongoing scams that dealerships will throw at you in order to bank some extra money from you. I’ve shown you the most popular, but let’s look at some more. 1. Written contract scam: This is basically when the finance manager sits you down and begins to write himself into frenzy, while quickly throwing numbers at you until you are so confused, you end up paying more than you agreed upon. This may seem impossible for a person to get away with but believe...
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Some Sales Scams - Part 2
5. The “We’ve Got it scam: This happens when you call a dealership asking for a specific car make, model and color and are told that they have it. However, when you get there, you are told that they miraculously sold the only one they had before you arrived. Next they will tell you that they have another car similar to it for only $500 more. Avoid this by leaving. 6. No Cheaper rate scam: This is when a dealership tells you that you can’t find a cheaper price anywhere else on the...
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Some Sales Scams - Part 3
9. Factory Holdback scam: Dealerships depend on a buyer’s ignorance so that they can mark up your prices. Holdback is money paid to the dealer for about 2-3% of MSRP. It is money that is given to the dealer from the factory when the car is sold. This is profit for the dealer for buying the car. Most dealers will tell you that it costs them money so that they can charge you for it later. Basically, they can get the money twice. Avoid this by letting the dealer know that you know...
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Closing Without the Extra Costs
So many people get ripped off after they have already closed the deal. They get you on the extras and the warranties at that point. The extras are things like rust proofing, scotch guarding etc. It seems pretty straight forward but you would be surprised at how many people get taken on these. The trickiest closing cost scam is the extended warranty because the language used is so confusing. This is not the warranty that the factory gives you for the car. It is a warranty that covers...
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Most Common Extras at Closing
Description Your price Dealers costs Rust proofing $800 $40 Extended warranty $1200 $300 Scotch guard $300 $5 Car alarm $400 $100 Paint sealant $300 $10 Credit/insurance costs $200 $30 Detailing and pin striping $299 $30 Total of extras $3499 $515 Extra monthly payment total $97 $0 As you can see, these extras will get you in the end. If you can, you should avoid them all together....
