5 Myths About Buying A New Car
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5 Myths About Buying A New Car
For those who are interested in buying a new car, you may be understandably apprehensive about the experience. You want to receive the best deal that you can without feeling as though you’re having the wool pulled over your eyes. You’ve likely heard a lot of myths about buying a new car from friends and family. Everyone’s experience is different when it comes to buying a new car. To help you break out of those expectations that the myths have created, here are five common myths about buying a new car debunked.
1. Paying With Cash Will Sweeten The Deal
Dealerships these days are more interested in financing cars than selling them at retail price. While there are certainly times when the dealership is holding a cash-only incentive sale, by and large, you’ll find that by trying to buy with cash won’t save you that much money. This is mainly due to the fact that they’ll be less inclined to discount the vehicle price. If buying with cash is your preferred method, then wait to see if they host a cash-only incentive special.
2. Wait Until The Last Minute To Mention Your Trade-In
Unless you love spending hours at a dealership, this is a myth best to be avoided. Dealerships know this attempt at bargaining the price of a new car down well. Waiting until the end is a poor choice since the evaluation of the trade-in doesn’t begin until the rest of the deal is discussed. You’ll also come to find that even with the trade-in, you’re not going to receive that much of a discount.
3. You Can Out-Negotiate The Dealership
Except for those who also work at a dealership, it’s likely that you don’t have the same experience in negotiating as the dealership does. It’s what they do for a living and they do it well. Their business’s success depends on their success at negotiating. Instead, you should focus on the deals and specials the dealership is offering and base your expectations around those numbers.
4. Lower Price Or Payment Means You Got The Best Deal
While it may seem like you received the best deal because the price of the vehicle was low, you may actually be paying far more than you realize through a lease. Or the terms for the car may be over more months than you realized. Instead of focusing on just a single number that the dealership is offering, you should look at the deal as a whole.
5. Bring Your Own Financing
Certain banks and credit unions will happily offer financing options in order to buy a new car. However, dealerships likely won’t discount the car if you come in with your own financing. This is because they’d prefer you use your own financing. In fact, they tend to make their own financing competitive, so you will choose theirs. Your best goal here is to examine the two options and choose the one that saves you the most money in the end.
Buying a new car can be a tricky business. To debunk further myths and find out more about buying a new car, you should visit our dealership. We are happy to assist you.