When a buyer is buying a used car or new car, there are
several mistakes that a buyer commits while he is dealing with the dealership.
1.
One should know exactly what
you want
Before one goes to the
dealer, the buyer should have a clear perception of what they want. The type of
car they require, the car, the model etc. One should do an extensive homework
first before going to the car dealership. Walking inside the store with no idea
of their actual wants can lead to a real bad buy.
2.
One should take a test drive
There are many buyers who
do not believe in taking the test drive. This is a must step that one should
not skip. In a test drive, there are several things that one gets to know about
the vehicle.
3.
One should negotiate on the
basis of the ex showroom price of the vehicle and not the sticker price.
The buyer should first
investigate about the vehicle, its manufacturing price and then see how much
the dealer is charging for the vehicle. In this way the buyer will be able to
strike a better deal.
4.
Do your own financing
Do not rely on the dealer
to fix the financing of your vehicle. Usually a dealer proposes to fix because
he will get a percentage from it. The buyer will land up spending more money
than the actual amount.
5.
Do not pay in a monthly basis
Often we are attracted
towards this monthly basis scheme, thinking that we can pay for the amount over
a long time slowly and steadily. The dealer also proposes this idea to the
buyer because in this way the buyer pays much more money than the actual
amount. Hence it is advisable to pay the amount at one go or maximum in two
instalments.
6.
If you feel the deal is not
good enough then do walk away.
There are dealers who
offer attractive proposals on the vehicles. The deals last for 24 to maximum 72
hours. See the deal and if you feel something is fishy do walk away. These are
often loops created by the dealer to sell of a vehicle where maybe there is
slight or major damage or some other thing. Usually the dealer will put such
offers up only when they want to get rid of the material as soon as possible.
7.
One should not discuss trade in
too early.
There are times when a buyer
wants to sell old vehicle at a better price than the dealer.
8.
One should go to different
dealers
There are many buyers who
go to just one dealer and finalise the deal and purchase from there. This often
leads to a loss. One should visit at least 3 to 4 dealers and see the ex
showroom price and then consider the lowest one and negotiate accordingly.
9.
One should always insure
Insurance of the vehicle
is very important.
1.
One should always question the
dealer well on the extras.
When you are buying a
vehicle and you have decided to sign the dotted lines, the dealer often forces
upon the extras and charges a hefty amount. The buyer should say no as these
extras or add ons he can easily get from the market at a much cheaper rate.
