If you’ve never bought a car before (or it has been a long time since you bought your last car) the entire process might be a mystery to you. Instead of just winging your way through the car shopping experience and believing what past car buyers have told you about the process, get informed about car buying. Here are ten of the biggest car buying myths and the truth behind those myths.
1. Buying a car on a rainy day means you will get better service. You are likely to get great service no matter when you come to our dealership, but some people still say that if you shop on a day when it is raining, you are unlikely to see many other buyers on the lot. The truth is that everyone has heard this advice. That means that everyone who is trying to buy a car is trying to do it on a rainy day, which means you are not going to find the lot empty.
2. Don’t tell the salesperson what type of car you want to trade in before they have priced your new car. Some people think that hiding their trade in vehicle until after they have already cemented the price of their new car is a good way to get the salesperson to give them a better deal on that trade in car. The truth is, however, that all salespeople use the true value of your trade in in order to formulate a trade in price for you.
3. Don’t tell your salesperson you are actually planning on leasing. For some reason, many car shoppers have heard that they can get a better deal on a lease if they pretend that they are actually planning on buying a car and at the last minute tell the dealership they actually want to lease, or that salespeople will inflate a car’s price if they find out that someone is leasing. The problem with this myth is that most vehicles have set leasing prices.
4. You need to be prepared to walk out on your salesperson. This myth dictates that you will only be able to get the price on the car that you want if you are prepared to drop everything and walk out if they do not give you that price. In the day of the internet, however, when it is very easy to get price guarantees online before you ever show up at a dealership, there is no need to haggle and persuade most salespeople to give you a great deal—you can be sure that you are already getting one.
5. You have to read every single word in your contract. It’s unlikely that you are going to have the time to do this and even less likely that it is necessary. A dealership is not asking you to sign away your soul. Most car buying contracts are extremely standard—you agree to pay the price of the car and they agree to give you the car. If you feel so uncomfortable in the dealership that you feel like this is a necessity, you are probably buying from the wrong dealership.
6. Demand only to work with the manager. The sales manager is not the only person in the dealership who is able to give you a good price on a vehicle. In fact, every salesperson is bale to give you a great deal. Every dealership has a number of specials and deals for their customers, and every salesperson is authorized to negotiate on price. There is usually no reason to demand to speak only to the sales manager.
7. Bring a cashier’s check with the amount you’re willing to pay. This is one of the oldest car buying myths that needs to stop being spread around. There is no way that a dealership is going to take kindly to people who behave like this, especially if the number on your cashier’s check was formulated not by the dealership, but by the buyer. Have you taken into account all of the fees and taxes that come along with buying a car? What if the dealership was actually willing to take a price lower than the one on your check?
8. The internet has all the best deals. While the internet does have some good deals, you can’t buy a car online (yet). This means that the best and most relevant deals are where you can actually buy a car—at a dealership. Many dealership are running deals and specials that they never post online. Looking for a great deal on a car? Visit the dealership to find out what kinds of deals they have on that particular day.
9. You should get your own financing. This may speed up the car buying process (slightly), but it may not actually be better for your dealership and they may not even be willing to sell to people that insist on finding their own financing. Many dealerships have special deals and partnerships with banks in the area to give you better rates than you would be able to get independently.
10. Buying at the end of the month means the sellers are desperate and will give you a better deal. While it’s true that some dealerships may give you a better deal on stock still on their lot that they want to sell before the month ends, it’s also true that if they have already sold off all of that stock, they are unlikely to have any special deals for getting rid of those cars. Instead, try align when you buy a car with the best deals and discounts.