Let’s talk about the five mistakes most car buyers make. It’s a complicated transaction; buying a car.
You have got to come in with the knowledge and confidence to make yourself a fair deal.
Mistake 1: Not being prepared.
Car buyers shouldn’t shop without knowing their credit score, having a set budget and knowing the kind of vehicle they want. I understand your desire to test drive vehicles to see which fits your needs but at least narrow it down. As a salesman, I spent hours with clients interested in specific vehicles only to find they couldn’t get financed for something way out of their budget. That should be addressed before stepping foot in a dealership.
Mistake 2: Giving too much information to the car salesperson.
A good salesperson will ask a lot of questions to the car buyer. However, the information you give is for their own benefit. Normally,the person who talks the least in a negotiation wins most often! So, be nice but guarded in order not to reveal what can be used to your disadvantage.
Mistake 3: Being impatient
Buying a vehicle is for most people the second biggest purchase they make. I know the car buying process is stressful but it doesn’t have to be. Remember, you are in control. Don’t let anyone pressure you. I advise my clients never to buy a vehicle immediately after test driving. Instead, setup a test drive and when done, go home. If the vehicle is still the one you want, call the salesman and have him submit a proposal. Make sure you contact other dealerships that have a similarly equipped vehicle and get a proposal from them as well to assure you are getting a great deal.
Mistake 4: Focusing only on the price of the vehicle
The price of the vehicle is only one part of the deal. There is negotiating to do on other things like financing, warranties and adding accessories like remote start bed liners or tonneau covers. You need to get the overall best deal so focus on the whole picture not just 1 part of the deal.
Mistake 5: Having limited car buying knowledge
One could research extensively methods for achieving a great deal but they still wouldn’t know the pieces they were missing. Consider hiring a professional to do it for you. Your Car Buying Advocate, Inc., has knowledge of all the ways dealerships profit. We can help you navigate this process; saving you time and money. We are not paid by the dealership; we work for you. So, there is no conflict of interest.
Mike is a former high-performing car salesman turned car-buying consumer advocate. Now he spends his days breaking the rules the auto industry has set for the consumer buying process. He’s got a love for God, a love for his wife, and a love for his two boys Elijah & Israel. When he and his wife Corrie are not changing diapers, they like to frequent Lake Erie, try new restaurants, travel and serve in their church.