July 2nd, 2009

Used car dealers are not known for their fair trading, They have a tainted image at best. Fair assumption or not, nobody wants to be turned over. Car dealers have so many different tactics to get you buying a car it would make your head spin and your hair curl. Here are two favorite scams the dealers love to play.

BAIT AND SWITCH – As old as the hills but still going strong.

  • A dealer is advertising one of your favorite cars at a really low rate in the paper. You get really excited by the thought of a great deal so you charge down to the dealership. Low and behold the salesman regretfully tells you that the car has already been sold. He then says that they have some great deals on some other similar cars, with great options for just a little more. You don’t want to seem rude so you decide to hear what they have to say. They will delay talking figures until they know you really want the car.

It is all about getting you through the door. Once you are inside the dealership there is no stopping them. You are on their patch, playing by their rules.

LESSON

  • Do your research on the manufacturers websites and get to know about all the different options available on the model you are interested in.
  • Take a friend with you. Moral support is great and your friend can act as a buffer if the dealer cuts up rough.
  • Don’t sign anything until you have checked the document properly.

POOR CREDIT RATING

  • The Finance Manager comes out and tells you that your credit rating is lower than it really is. Because of this the interest rate will be higher so that the loan will be accepted. Can you believe it? Instant profit if you’ve got the neck for it – which these guys have!

LESSON

  • Check your credit rating prior to visiting the dealership. Take some proof to show them if they try it on. The figure you are given regarding your credit rating is the same regardless of the identity of the searcher. Two reputable companies are Equifax and Experian. Don’t let them push you into something you don’t want. If they don’t stop just make an excuse and politely leave.

You’ll probably find this info. revealing to say the least. I did when I first read it. But this is just the tip of the iceburg. These guys have turned selling into an art form.

These dealers are slick operators. Get the full inside story from an ex-salesman who was sick of the hustle. Learn about every tactic they will try to get your name on the sales forms and every stunt they will try to pull to boost their profits. You could save thousands with this information.

If you want to a buying guide for used cars or any other type of vehicle, check out all the scams here now!

 

 

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