Used Car Buying Tactics That Can be Applied At Dealers

Thankfully, the modern era and the age of digital information has made it more difficult for used car salesmen to pull some of the same stunts they once pulled on our parents and grandparents, but there are still some tactics that can be used that will trap you and leave you with a deal that you didn’t want but sounds great on the surface. It’s important to know what some of these tactics that dealers used are and how to avoid them or at least recognize them in order to buy the vehicle you actually want to drive.

The Scream From Dealers

This is a scenario in which you’ve informed dealers that you want a specific vehicle or a specific price and they’ve sent you on your way. The dealership then calls you back in to close the deal only for you to find out that they don’t have the vehicle at all. The manager will often berate the salesperson and you’ll be offered some phantom freebie and then leave in a vehicle you didn’t actually want to buy. Avoid this by bringing a few other prices on comparable prices from other dealers in the area to the table and force them to be competitive.

A Car You Can’t Finance

Often, people with poor credit have a hard time securing financing, but dealers find ways to take advantage of these folks when selling used cars. They can do this by having a customer sign paperwork that shows a reasonable interest rate only to change that interest rate after you’ve shown off your vehicle to family and friends and had to lose it. You can avoid this by refusing to sign the bailment agreement and requesting a copy of the bank approval, but if you refuse to sign, you might not get to drive away in the vehicle to start with.

Hiking the Interest Rate

When you sign your paperwork with a dealership, you expect the interest rate you secure is the actual one the bank or financing institution approved. In reality, the dealership can make a percentage of this interest rate and will often hike it up a few percentage points which can cause your payment to increase. Secure your financing through a credit union or other lender before you visit a dealership and let the used car dealer you visit know you’ve got your own financing.

Undisclosed Damage

There are times when you might encounter a vehicle that’s been in an accident or had damage from foul weather, but the dealer doesn’t tell you about this damage. A CARFAX report is only as good as the reporting done on the vehicle and doesn’t always give you a full review of the history of the vehicle. In order to avoid paying for a car that’s been damaged, you need to have the vehicle inspected on your own and let the inspector check it out completely. Often, a good inspector will find undisclosed damage on a used car if there is any to be found.