Do you think you are getting the best car deal on the outgoing models in this year-end sale?
Of course you will, if you keep an eye open for the year-end car buying traps and avoid them. Year-end sales are the annual clearance events when car-makers cut prices to get old models out of their showrooms. If you follow some basic rules, you can protect yourself from being taken out on a long ride by the sales persons who aim at selling you a car to generate as much profit for the dealership as they can.
If you are ready with the hints mentioned below, you would be able to deal with those enthusiastic staff or loan officers and have the courage to say no to the deal:
* Choose only one executive to deal with your enquiries. Do not entertain all those sales personnel, the sales manager, the finance manager, the floor manager and the used-car manager who are out to lead you into a deal you do not want to enter into
* Dealers advertise for one model loaded with attractive features for a reasonable price but offer a lesser model with less value. The minute you realize the mischief walk away
* Don’t give up the keys to your current vehicle for its trade-in value to be assessed, or as collateral while you take a test drive. If you do not like the deal you may find it difficult to retrieve your own car
* Don’t let the salesperson pressure and bully you into buying impulsively. Be focused on the kind of car you need and what you can pay. If you do not get what you want walk away
* Read carefully over any invoice or contract before you sign. Alarms, extra cleaning, prepping, rust-proofing, fabric protection and paint sealant are all common. Pay extra attention to unnecessary add-ons that may appear on the invoice
* Consider doing the Vehicle Information Number (VIN) etching yourself with a home-etching kit that would cost you as little as $20. Dealers would charge you hundreds of dollars if you want them to do it for you
* Stick to the total cost of a vehicle and the shortest-term car loan available. The so called ‘Finance managers’ often try to stretch the payments over a long period of time. Long-term loans trap people into buying cars they can’t afford and by the time the loan is paid for, the car will have entirely depreciated
* Research thoroughly on the vehicle or vehicles you plan to purchase or lease. Check with the loan officer at their bank or credit union beforehand for the credit offer. Compare the same information with the options given by the ‘Finance managers’ at the showrooms
* Don’t mention any price until you’ve selected a vehicle to buy, and then ask the salesperson for his or her very best offer. Remember that a car payment should cost no more than 12% to 15% of your after-tax monthly income
* Don’t discuss add-ons like warranties or trade-in prices until you’ve agreed on the price for the car. If you do otherwise it leads to a confusion as to how much you’re actually paying for the vehicle
* If the dealer asks for your Social Security Number (SSN) or Credit Report, leave. Your name and drivers’ license should be enough to start the deal
* Do not let the dealer run a credit check until the payment negotiations are finished
If you feel that you are not comfortable with the deal, walk away. There always is another car at another dealership for you to own on your terms.
Information given above is not intended as legal advice. You may continue your lemon law claim or any other contention with your automobiles by contacting California lemon law attorneys of Krohn & Moss Ltd., or Call 1-800 US LEMON® (800-875-3666) toll free, to reach Krohn & Moss for your FREE initial consultation.
Consumers can get free case review, help and legal representation from our California Lemon Law Attorneys for their Lemon Vehicles.