Top 5 Myths About Buying a Car: Busted

Are you intimidated by the thought of visiting a dealership to buy a car? Don’t worry – you aren’t alone. Many people are uncomfortable with the car buying process, and they may put off making a purchase as a result. Fortunately, many of the issues that give people pause are actually myths, and this article will take a closer look at some of the most popular ones.  


Myth #1: Don’t Finance with the Dealership 

This is one belief which seems to be commonly held, but it is misguided. The truth is that very few dealers, with the exception of buy here pay here lots, actually offer in-house financing. You do not finance your car with the dealer itself, but with a bank or financing source that partners with the dealer to secure a loan for your vehicle. Dealers submit information to multiple lending sources and those banks compete with one another to offer the best rate for your car loan. So in reality, you may even be able to get a better interest rate than you would on your own, if you allow the dealership to work on your behalf.  


Myth #2: Buy Late in the Month 

Since many dealerships work toward specific sales goals on a monthly basis, some people think buying late in the month will help you get a good deal. That might happen from time to time, but it’s the exception rather than the rule.  You can never know as a consumer where the dealership is for that month in terms of sales goals, so you don’t really have much extra negotiating power. Just focus on getting the deal that’s right for you, no matter what day of the month it is.  


Myth #3: Keep Your Trade-In a Secret 

This is an odd myth, but one that some people seem to believe. There is nothing to be gained by keeping your trade-in a secret from the salesperson. Instead, be upfront about everything and get all the information you can. It’s always up to you in the end to either agree to the deal you are being offered or to walk away. 


Myth #4: Go in the Rain! 

You have probably heard this one before. This is the idea that salespeople will be so bored or otherwise desperate on a rainy day that they will make a great deal just to get something done. It should go without saying that this doesn’t work. A little rain isn’t going to keep most people away from the lot, and with all the online shopping options available today, a dealer isn’t going to just give away a vehicle based on the weather. 

 

Myth #5: Threaten to Walk Out 

Threats don’t work in any good faith negotiation. If you are constantly telling the sales team that you will walk out if you don’t get what you want, you’re probably creating bad faith with the dealer and likely sabotaging yourself. Instead, try to work together with your salesperson to hammer out a solid deal without being confrontational. 

 

When you choose to shop at Terry Auto Outlet VA, you’ll enjoy your experience from start to finish. And you won’t encounter any of the myths or negative stereotypes associated with used car dealers. What you will encounter are plenty of beautiful cars to pick from, because Terry AO is one of the top used car dealerships in Lynchburg. Visit today to learn more. 

Categories: Tips