Used car dealers are notorious for taking advantage of innocent buyers. Fair assumption or not, nobody wants to be turned over. What these dealers get up to would blow you away. Here are two favorite scams the dealers love to play.
BAIT AND SWITCH – As old as the hills but still going strong.
- A dealer is advertising one of your favorite cars at a really low rate in the paper. You get really excited by the thought of a great deal so you charge down to the dealership. “I’m afraid the car has gone” says the dealer. But there are other cars available right now with great packages for just a little more. You are interested though a little worried so you decide to listen to their spiel. If you ask for some figures the dealer will probably say that the finance manager wiil sort that out.
It is all about getting you through the door. Once you on his patch he reckons he can control what is going to happen.
LESSON
- Do your research on the manufacturers websites and get to know about all the different options available on the model you are interested in.
- Having a friend with you can help if the dealer tries to put pressure on you.
- Check any documents thoroughly before you sign them and as ever, if in doubt, don’t sign.
POOR CREDIT RATING
- The Finance Manager comes out and tells you that your credit rating is lower than it really is. Because of this the interest rate will be higher so that the loan will be accepted. Blatant lies. Now that’s naughty!
LESSON
- Check your credit rating prior to visiting the dealership. Take some proof to show them if they try it on. Your credit rating doesn’t change just because a business asks for it. Two reputable companies are Equifax and Experian. If the dealer starts to put you under pressure just leave. You are under no obligation to stay.
You might find this information. surprising. They don’t stop here. They’ve got an army of tactics they can use. These guys have turned selling into an art form.
Don’t get scammed by these guys. Get the full inside story from an ex-salesman who was sick of the hustle. Have all the information you need at your fingertips to see through their double-talk. Are you going to let them walk all over you.
If you want to a buying guide for used cars or any other type of vehicle, check out all the scams here now!
Tags: buying cars used, how to buy a used car, used car buyers guide, used car buying guide, used car buying tips