13 Car Buying Mistakes - How Auto Dealerships rip you off - Be an Expert Buyer at Vehicle Dealers

Hi, I'm Kevin Hunter, the guy in charge, your consumer advisor in the

auto

motive business. I'm here to talk about 13 car

buying

mistakes

you want to avoid. Have you ever regretted the decision to buy a car? If you did, it's probably because you pulled the trigger. a less than fair deal for one or more of the following 13 reasons, number one, I went to the

dealers

hip to see what kind of financing I can get approved for my YouTube video. Auto financing emphasizes the need to check with your own bank or credit union. Before you go shopping for a car, even if the dealer offers you a great interest rate, you have no idea if it's competitive, given your personal credit profile, 3.9% may seem pretty good, but what if you qualified? for 2.9% in your own bank armed with that information? before you walked in the door you could have gotten it to 2.7 percent at the

dealers

hip.

See the benefit of knowing that before you went to number 2 you either didn't take the time to do a good test drive or you skipped it altogether. Have you ever walked into a car lot and said I've always had a minivan. I know how they conduct themselves. I don't need to drive it. The obvious importance of this should make it completely unnecessary to say, but I've seen it skipped too many times. Test drive your car and give it a proper test drive every time number 3 you didn't take the safety of the

vehicle

into account and believe the gas mileage estimate provided by the seller do you have any idea what the difference is between a crash rating of five stars and one of 3?

Star accident ratings, well let me tell you, you triple your risk of injury between those two ratings. You may want to know what the safety rating is for the car you are looking at and you can find real information at safercar.gov and IIHS dot-org. Take the time to do this and your family will thank you when it comes to fuel economy. Review all

vehicle

s you are considering for fuel economy. What is most commonly said on the car lot has to do with inflated gas mileage quotes. Salesman number four thought that window sticker was the starting point for new car price negotiations.

He couldn't be more wrong. Did you walk into the dealership and see the stickers on the windows of some of the new cars? $50,000 on a new vehicle is nothing to see these days, but he realizes that's nowhere near what he'll be asked to pay. The sticker on a new car is the MSRP, the manufacturer's suggested retail price. From there you get a dealer discount and manufacturer rebates sometimes due to the combination. the discount can be up to $10,000 number five you get fooled by all the incentives to buy you will hear all the stories the rebates end today you qualify for 0% financing for 72 months when the promotion expires the dealership might even add free oil changes , free car washes or free accessories when you buy today.

The truth is that there are only a few occasions where refunds go down, most of the time they stay the same or even increase. Number 6, you didn't investigate the commercial value. of your current car, there are generally two types of customers: the first has no idea how much their car is worth and the second has their car greatly overvalued. Don't be one of those two people who calls and gets a bunch of estimates on your car. vehicle and then when you go to trade it in, hold your ground and make sure you get what's right number seven, you got emotionally invested in the car, did you know that one of the many things car salespeople are trained to do is get you are emotionally invested in the car, that is the salesperson's job when you take logic out of the equation, you can be convinced of anything, since this happened to you number eight, a monthly payment goal was the deciding factor in your purchase, don't make this mistake every salesperson loves the guy who comes in and says I'm looking for a car with a $300 a month payment.

Hey, that's an easy goal to achieve and there are a variety of ways to do it while taking advantage of the sales price, financing and all the other products they want to add to your car number nine, you bought all the extras, did you know that you Will you meet salesman number two after

buying

the car? They call this person a delivery coordinator, but in reality you're talking to a skilled salesperson who will sell you every trick you can possibly add to your car rust protection from the start fender paint sealer carpet protector the list goes to Bottom line is this, the car will only be worth the book value or fair market value it is at a later date and all that money you invested in accessories will go down the drain or possibly even devalue your 10th car. a mechanic to check the car because the dealer inspected it.

Let me tell you something I work on. With cars every day, but there are many things I don't know about a car, are you really the mechanical genius who knows the difference between a good car and a bad one? Car inspections generally cost around $25 at a typical shop and are well worth it. money I shouldn't have to say this, this should never be the reason you regretted buying car number 11, you let your guard down after negotiating the deal, okay, so you met salesman number one, he was the guy who showed you the car, then you met salesman number two, who was the delivery coordinator, you met in the accessories department, now you will meet salesman number three, who is actually the toughest and smartest salesman they have.

This person is also known as the F&I manager. Know that dealers can make as much or more money in the finance office as they do buying a car, you won't just be walking into an office to sign papers with a receptionist and then go on your merry way, you'll be sitting in front of one. of the most skilled money makers the dealer employs, you definitely want to be ready for what's to come, don't let your guard down in the business office and keep strict control of your pocketbook at all times, number 12. I didn't know what It was gap insurance or theft protection.

These are often two of the biggest money makers at a typical dealership. The dealership will offer you gap insurance at a cost of six hundred to eight hundred dollars. What is the gap you ask? It is the insurance you may need. If your vehicle is ever totaled, you pay the difference between what your

auto

insurance covers and the outstanding balance on your loan. That's the gap. What they don't tell you is that you can purchase gap insurance from your auto insurance agent for twenty-five to thirty-five dollars a year, then there's theft protection, an element that keeps showing up in one car contract after another and which is quickly becoming known in several states as the scam of the decade.

If you do your own research, you won't find an independent site that praises it. He was just saying no to theft protection number 13. It seemed like such a good deal that you decided not to think about it. Some of the best car deals I've ever been involved with were deals that never happened. Let me explain when Roger and Victoria called me to inform me. When purchasing a new car, I asked them what type of vehicle they currently had. They were driving a Toyota Tundra O six with 50,000 miles on it and while it was worth it, they didn't like the fuel economy.

I explained that I understood what they wanted, but I still wasn't convinced they needed a new car, so I encouraged them to drive a few vehicles and then go home for the weekend to think about what they really wanted to do on Sunday morning. evening. I received an email from Victoria apologizing for wasting so much. Much of her time, the truth is that our budget doesn't allow for any car payments right now, so we'll have to wait. I can promise you that you didn't regret going home to think about your options and neither will you. Also, the next day your emotions will have calmed down, now you can think logically about what is right for you and believe me, the deal and the car will still be waiting for you no matter what they say, those are the 13

mistakes

you made. you want to avoid when buying a car I'm Kevin Hunter, the homework guy, your consumer advisor in the car business, thanks for listening