There ARE honest car dealers, however, there are also some dealers who do not deserve trust as they are keen on using scams and practicing car dealer tricks on unsuspecting vehicle shoppers. The tricks and scams these people practice are numerous. Let us examine a few of them:
Low Credit Score Trick
If you are a potential car buyer, you had better go to the dealership prepared. This means that you should find out your credit score before entering the dealership, otherwise the dealer may tell you that you do not have a high credit score. This means that you will have to pay higher interest rates to qualify for the loan and to get the vehicle.
Offering a Demo Car
The dealer may offer you to purchase the demo vehicle. Of course, the vehicle looks excellent, but if you ponder on buying a demo vehicle more carefully you will understand that there is no need to do so. Demo vehicles are those vehicles that are being used during the test drives. This means that lots of people have driven the car, so the vehicle may already have wear and tear on it. It is true that demo vehicles cost less than brand new ones; however, it is better to pay a bit more money than purchase a car that has already been driven by hundreds of people.
The Paperwork Trick
The paperwork trick is one of the most common car dealer tricks in the book. The dealers may negotiate the dealer with you and then tell you they will prepare the paperwork and fill it in later. As a result, you are provided with a purchase contract with quite different terms and high prices.
Monthly Payment Trick
The dealer may ask you how much money you can afford to pay for the vehicle. Do not fall for this. The dealer is asking this to be able to determine how much extra profit they can get from you. They want to shift you from the car price to the monthly payment. Thus, do not be a payment buyer; ask the price and know how much money you are going to pay for, say, 36 month.
I will be posting about other common car dealer tricks too. Hope these articles are of help to you!