5 Lies Used Car Salespeople Tell Buyers To Get Them To Spend More
It’s not uncommon to feel anxious when it comes to buying a vehicle — especially if it’s used. Not only do you have to worry about ending up with a car with major issues lurking under the hood or that’s been previously wrecked and repaired, but you also need to be concerned about whether you’re spending too much.
Not all car salespeople are out to deceive buyers, but unfortunately, some are. That’s why it’s best to arm yourself with knowledge and know when to walk away.
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To help, here are five lies car salespeople tell buyers to give themselves the upper hand.
‘This Deal Is Only Good for Today’
Logically, the only reason why the deal should only be good “today” is if the car is not available tomorrow. Otherwise, this comes off as a hard-bargaining manipulation tactic. If you’re not ready to buy, you can simply walk out. Only accept the deal if the price meets with your expectations, and it’s a vehicle you will be satisfied with — not because the salesperson is trying to manipulate you.
If you really want to put yourself in the driver’s seat when it comes to negotiations, find a comparable vehicle at another dealer and get its best offer by revealing the price offered by the first dealer. Then, go back to the first dealer and see if it will beat its competitor’s price.
Learn More: Professional Negotiator Shares 4 Tips To Save Thousands on Your Next Car Purchase
‘I Can Get You a Second Key Fob If We Make the Deal’
When you’re buying a used vehicle, certain things could be missing that were present when the car was purchased new, like floor mats or second key fobs. Many prospective buyers will ask the salesperson if the missing item can be replaced.
If the salesperson answers, “Yes, absolutely, we can get that for you,” be leery. More often than not, these kinds of promises never materialize once you’ve signed on the dotted line. The salesperson is likely just trying to temporarily appease you and reach the finish line by making the sale.
‘This Make and Model Doesn’t Come With Those Options’
If you’ve done your homework and you know the exact year, make and model of car you want to buy, you should also know what options are available. Don’t let a salesperson tell you any different. And while it may be true that the particular used vehicle the salesperson is showing you doesn’t have the options you want, that doesn’t mean you won’t be able to find a used model elsewhere that will.
Additionally, if the model you’re looking at doesn’t have the options you want, you can possibly use that to negotiate a better price if you tell the salesperson you’re planning to shop around.
‘I Need To Know Where You Want Your Payment To Be’
If there’s one piece of advice to follow, this is it: Avoid telling the car salesperson where you want your payment to be. The truth is that car salespeople don’t need to know that information. They want to know it, so they can build the deal from there.
Say you’re interested in buying a $35,000 vehicle, and you tell the salesperson that you want your payment to be around $500. To get your payment around $500 with a 7% interest rate, the loan term will have to be seven years, or 84 months.
The longer the loan term, the more interest you’ll pay over the life of the loan. Plus, once you’re focused on getting the payment that you want, the dealership can potentially play with the numbers in the background and charge you more for the vehicle, give you less for your trade-in or add interest to the lender’s proposed interest rate with you being none the wiser.
‘Your Trade-In Isn’t Worth as Much as You Thought’
Car dealerships are notorious for offering people much less for their trade-ins than what they are worth. Don’t be a victim.
Instead, research the trade-in value of your exact vehicle using several reputable sources, such as Edmunds, Kelley Blue Book and NADA. You’ll enter the make, model, location, mileage, equipment and options for your vehicle. Print out the information from each source, and take it with you to the dealer as a negotiating tool.
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This article originally appeared on GOBankingRates.com: 5 Lies Used Car Salespeople Tell Buyers To Get Them To Spend More
