There are numerous myths and misconceptions when buying a new car. Here are 4 common ones that could be more harmful than helpful.
When you’re in the market for a new car a lot of friends, family, and maybe even people you barely know will try to give you advice on buying a car. While that may be with good intentions, there are a lot of car buying myths and misconceptions people have.
Even though you’re friends or family just want to help you out, the honest reality is that some of the information they give you may be out-dated or just plain wrong. Many people have false notions of the best way to buy a car or how to get the best deal, which could ultimately hurt them in the end.
Many people have false notions of the best way to buy a car or how to get the best deal, which could ultimately hurt them in the end.
In order to avoid those traps and stop making the same mistakes that many others are making, it’s important to be aware of the myths about car buying upfront. That’s why we’re sharing with you 4 big misconceptions that you need to realize.
1. Not Disclosing a Trade-in
When stepping onto the lot for the first time, a lot of people falsely assume that if they have a car to trade in, they need to keep that information private until the right time. This is just not true. In fact, by letting the dealer know about your trade-in and the potential value, it could help you strike a better deal with the salesman.
Many people buy cars with the intention of getting a good resale value, which is a smart thing to do. But you don’t have to keep that fact a secret when you’re shopping for another car. It won’t necessarily hurt the deal if you tell the salesman early on that you’ve got a car you’re looking to resell.
You don’t need to wait until the price is set in stone to announce that you’ve got a trade-in. Be sure that you know what your trade-in is worth before going to the dealership by doing some research online. That way you can make sure that you’re getting a fair price for it.
2. Waiting Until the End of The Month
There always seems to be more ads on TV and the radio about deals on cars towards the end of the month. And many people assume that prices will be lower at that time. But in reality, you don’t need to wait til the end of the month to get a good deal.
Manufacturers tend to introduce new prices or promotions at the beginning of the month and then they run all month long. The only reason that you think it’s only at the end of the month is because that’s when dealerships increase their marketing to make their sales goals. But really those deals have been going on all month long.
3. You Can’t Walk Out
It’s another misconception that once you start negotiations with a dealership, you are obligated to stay and finish the deal. But that is absolutely not true. You are buying the car and thus you have the power to decide when you want to end the negotiations.
You can simply say, “No thank you,” and walk away, it’s as easy as that.
There is no rule that says that you can’t walk out of the dealership if you don’t like the prices being offered or if you’re just not ready to purchase. You can simply say, “No thank you,” and walk away, it’s as easy as that. The dealership probably wants to pressure you into staying longer because they know it’s more likely to result in a sale. But you have the power to leave whenever you choose.
4. You Can’t Get a Good Deal Right Away
People like to shop around. And they seem to think that the more they look, the more likely they are to get a good deal. However, it is completely possible to walk into the first dealership on your list and find a new car that you love and a deal that works for you.
This car buying myth that shopping around will result in the best price is completely false. In fact, many dealerships offer the same or very similar prices so really you aren’t very likely to find a better price somewhere else. Don’t feel like you can’t get a great deal at the first place you look. It is entirely possible and will make the whole experience much more enjoyable for you.
Don’t Believe the Lies
These are just some of the myths about car buying that people have. So many people fall into these traps of believing in these misconceptions and false notions. Just because someone thinks that’s how it works doesn’t mean that it’s true.
You don’t have to listen to the lies that others believe about buying a car. Be smart and know upfront what you’re getting yourself into. Dispelling these myths about car buying will ultimately help you get a better deal and stress-less over buying your car.