There are a few occupations that instantly make us think of skeezy men in cheap suits looking to prey on your good nature. You’ve got lawyers, you’ve got loan sharks, and then you’ve got car salesmen. Even with all the balloons, colorful flags, and waving tube men, stepping foot on a car lot can feel less like a trip to the fair and more like a dip in a shark-infested dunk tank. While we’re sure there are some honest car salesmen out there, there is a reason car dealerships have a less than savory reputation. However, it’s not all bad and you don’t have to leave the dealership feeling like you’ve signed away your life. We’re busting five dealership myths that will make your next dealership visit a little less scary.
Top 5 Myths:
Ok, this may have been true at one point, but cash is not the king it once used to be. In many instances, dealerships are incentivized to get you to finance. If you walk in with a wad of cash, they may up their “bottom line” to make up for what they can’t add to your payment or rate. The best thing to do? Choose the option that works best for you, NOT the one you think can get you the “best” deal
Sure, the internet does some amazing things for us, that’s a fact. However, it isn’t the place you should look for an incredible deal on a car. Why? Unless you’re buying from an independent person, where do you think the car you’re looking at is coming from? Most likely, a dealership. There’s no doubt that the internet has revolutionized car buying, but the internet is also good at hiding things. There could be hidden fees or stipulations you can’t see behind a computer screen. Plus, there’s no guarantee the car you want is even on the lot. The best bet? Use the internet to educate yourself, but don’t assume anything until you’ve signed on the dotted line.
“I talked to this other dealership.” “You’re going to get me the best deal.” These seem like a good idea, because you always hear, “Take charge and get what you want.” We can admit that there might be some rare times where this works, but most of the time, you’ll just make yourself look foolish. Dealerships talk to each other, salespeople know their stuff, and chances are they’ve heard everything under the sun. Yes, it is fun to put people on the spot, but it won’t get you far. Instead, treat them like the people they are and come at them in a nonconfrontational way. You’ll get much farther.
We know that holiday shopping can be stressful. You’re paying your regular bills, taking care of your everyday expenses, and planning for holiday shopping on top of that. It can be tempting to open multiple credit cards or store cards, which come with incredibly high-interest rates. Don’t get stuck paying big balances on multiple cards. We have numerous options that can help you fund your holiday shopping without spending more.
To say buying a car is intimidating is an understatement. However, if you know what you want, how much you’re willing to pay, and you’re ready to look at the deal as a whole, you can get a great deal. Remember, it is ALWAYS ok to walk away. If you feel uncomfortable with the deal, just walk away. You have no obligation to buy until you’re ready. If you’re still hesitant, don’t worry Maple Federal Credit Union has got your back. We can get you the financing you need to make your automotive dreams a reality. Check out our auto loan options today!
Sources:
https://www.edmunds.com/car-buying/car-buying-myths-and-misconceptions.html
https://cartelligent.com/blog/ten-car-buying-myths-and-misconceptions/
We know that holiday shopping can be stressful. You’re paying your regular bills, taking care of your everyday expenses, and planning for holiday shopping on top of that. It can be tempting to open multiple credit cards or store cards, which come with incredibly high-interest rates. Don’t get stuck paying big balances on multiple cards. We have numerous options that can help you fund your holiday shopping without spending more.
Maple FCU's mission is to help our members achieve their financial goals.
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