“We can’t keep our cars on the lot!”
“We’re stackin’ ’em deep and sellin’ ’em cheap, y’all!”
“We’ll pay off up to $19,000 of your credit card debt!”
“One penny down and no payments for a year! ONE PENNY DOWN AND NO PAYMENTS FOR A YEAR!!!”…
If you’re like me, or like most people, these tag lines make you nauseous. We’ve all heard them, the “too good to be true” deals that 90% of dealerships like to blast on every TV and radio station every five minutes. And really, the fact of the matter is that they really are too good to be true!
These are the advertisements that have earned car salesmen as a whole the “shark” title. Well I’m here to help you spot these said “sharks”.
Tip #1: If you’re getting over half of your annual income back in rebates, you are paying FAR too much for the car.
Tip #2: If someone doesn’t give you your keys back after getting your trade appraised, you’re dealing with a shark.
Tip #3: If you feel pressured at all, then you should leave immediately. The only people who feel the need to apply pressure and finish the deal as fast as they can are the ones who don’t want to give you the opportunity to shop and compare their prices to the competition.
Tip #4: If someone asks you where you want your payments to be when you ask the price of the car, you are most definitely dealing with a shark.
And last but far from least..
Tip #5: EDUCATE YOURSELF. You have a vast and unimaginable wealth of resources literally at your fingertips with the Internet. Edmonds.com or cars.com are both fantastic website for telling you good deals on new cars. NADA book guides is great for used car values so you can get a decent handle on how much that used trade is worth!”
With all this said, there is still hope. Not every dealer is like this. Believe it or not, not all car salesmen smell like Burberry cologne and talk faster than Busta Rhymes. So with these tips, spot the sharks and move on until you meet a car salesman who legitimately wants to help you. Because I promise you that such a mythical creature exists.