The National Automobile Dealers Association was founded in 1917 and is currently headquartered at Virginia. The institution is the proud representative of around 16,500 dealerships across the nation. NADA published a report in 2016, where it proclaimed that there were nearly 20,000 independent car dealerships within the US. Considering this staggering figure it should be enough to understand that running a dealership is a tricky business and as a customer, your utmost priority is to keep it safe when the time comes for you to make a purchase. This also due to the fact that running a business under the sun isn’t easy and dealers are there to make money. The salespersons are specifically trained to know all of your instincts quickly and make you feel secure while they get the most out of you at the same time. So let’s delve right into some of the don’ts you should know about before making a final decision to buy you’re first used or new car:
Not Setting Your Limits Right Away
With the time, effort, and finance you invest in making a final decision, buying from car dealerships should be considered as a tediously exhaustive exercise that can downright make anyone feel weary. Hence the first golden rule of thumb is to set your limits straight. Perhaps getting your budget right is what can be defined as the primary goal for any new or used car purchaser. This is due to the fact that all that glitters isn’t gold, however, once you are at the dealership the salesperson who greets you will definitely try to sway your decision. Then and there if you waver and step outside your safe zone, the only damages you will do is to your own savings and that could lead to dire concerns. Therefore it is pretty safe to assume that entering into a car lot or auto dealership you must be prepared beforehand as to what are your limits and what should be considered as a good deal in accordance with your budgetary constraints. Going out of bounds needlessly is surely the least unexpected behavior for anyone who had reason and sense supporting their every action.
Rushing into a Deal You Really Not Need
Ever wondered why the car you want to pick and the particular color isn’t available when a salesperson barges in and states that inventory is out of stock. Though we wouldn’t label this as one of car dealerships idea of running a white lie in your face, however at your perspective you should never rush in and grab what is being offered. Take some time to cool your nerves. The average life of a car in the US is estimated to be at 11.5 years, so instead of making a faulty decision based on instincts wouldn’t help you resolve the issues you face in the longer run. This where you realize no one has the right to impose a decision of their own making on you. You have the absolute right as to what to get and what to let go ultimately. Hence develop the skills of walking away from a bad deal than walking right into it. Get that pushy salesman a decent wave and tell yourself by comforting in the fact that if it doesn’t make me feel right then I wouldn’t get it no matter what the cost.
Getting Trapped Into A Bait & Switch
The actual idea behind the bait and switch heavily emphasizes on you visiting their showroom. This is how it works: the showroom shows you a car that plays well with all your needs and criteria, however, once you do visit the showroom, they offer another car by saying that the previous one was sold. This much more expensive vehicle isn’t the one which you came for and within car dealerships, this tactic is known as the ‘Bait & Switch’. Now that you have been made aware, the right way to go around this to confirm with the dealer first whether the car is still available before visiting them. That way even if they play against their own word and still want to enforce upon you a decision that really doesn’t belong to you, then this where we leave the final judgment solely to you. However, it should be pretty clear as to what you should do with a dealership that tries to meddle with your affairs unnecessarily.
Letting Go of Negotiations Completely
Fatigue gets to you, exhausted of your exuberance altogether and desperate to drive out of the place, this is the moment what the salesperson has been waiting for. They would love to cash it in by dishing out a lot of protections and warranties you simply do not need. They will push you and try to strangle your thought process by offering you seemingly remarkable add-ins which only take away more than adding in much. Negotiations therefore or bargaining skills are much needed on your behalf to save you from the tricky side of car dealerships. You simply need to remember that even when they are offering you financing options, surely the banks did put an interest rate, but so did they to top it off a little without your knowing. Next up you also need to realize the minute you drive out of the showroom with a new car, the price falls drastically. The annual depreciation rate of vehicles is around 15-20%. Hence your best decision will lie in buying a car of your choice that a bit older and gives you great resale value concerning the amount you pay for it in the first place.
We hope this post was helpful in offering you reasonable support to get a head start against meeting dealerships unprepared. There are a lot of things for you to know about dealerships and having a look at