The automotive industry is huge and one of the biggest across the globe. With nearly 335 million units sold till date, major manufacturers and producers are expected to reach 86 million units this year. As of 2015 the entire industry amount to nearly $1.7 trillion of worth. There is no doubt that purchasing your own car marks a milestone of independent lifestyle for any inspiring and promising individual. However, there are many concerns and reservations to take care of beforehand and in this post, we will share with you some of the most significant ones that can effectively lower your anxieties and give you a much-needed leverage for your next visit at used car dealerships.
The FTC’s Buyers Guide
The Federal Trade Commission offers you a complete buyer’s guide for managing your affairs at a dealership. This guide is effective in the sense that focuses on the wellbeing of the consumer in general and offers you relatively significant information that can help you in making the right decision. The buyer’s guide entails:
- Important information relating to purchasing of the vehicle and its information regarding warranties.
- It also relays significant information with respect to the vehicle’s inner workings such as mechanical and electrical systems, and some major concerns to look for in the shorter and longer run both.
- The percentage of the repair cost which the dealer has to pay under the warranty enclosure.
- Requesting for an independent inspection of the car before a deal is signed between you and the dealer.
- An entire history report of the vehicle by visiting “https://ftc.gov/usedcars”.
This guide is essential for you to get all the information you need in order to make a fully informed decision regarding your final purchase.
Specialty Used Car Lots
There is no doubt that when a business flourishes, the management decides to keep with the strengths and let go of their redundancies. Similarly, for car lots, the gameplay can revolve around good suppliers. This translates to the car lot heavily becoming exclusive for a particular brand and makes of cars over time due to extensive relationship building between them and particular carmakers and manufacturers. This goes either way, and such car lots can have German-based vehicles as a more prominent factor of their visible and showcased inventory or even focus mostly on luxurious cars. Nonetheless, it is important for you to know that though the price difference offered isn’t substantial, such car lots do offer you an extensive variety to choose from. This is your best spot to find hard to find models for car collectors.
Avoiding Marketing Gimmicks
It is after all a sales business we are concerned with and surely there goes a lot of marketing gimmicks to keep the industry up and running. Here are some ways to get it right at the dealership:
- Timing your decision in accordance with rebates. Huge rebates mean that someone is really desperate to sell a car.
- A pushy salesperson who will simply not accept ‘no’ as an answer deserves from a mastery of a skill that is known as walking away.
- Getting a good price and getting it right is totally worth it. Don’t lose your fray over MSRP and invoice, in fact, focus directly on the price known as out of the door price, which is the one you are going to write the check for to own that car.
We hope this was a helpful post in informing about some of the tricks of the trade regarding auto dealerships and how they try to catch you off guard. For any further comment and suggestions regarding the topic, feel free to put in a comment in the section below.