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Car Buying Myths
Purchasing a new vehicle at a dealership can be a long and frustrating process for many. Below are some myths many people believe to be true when they decide to purchase vehicles on their own.
Click on a myth below to reveal something you may have not known:
1. Walk into a dealership and buy or lease a vehicle the same day
Wrong! If you fall in love with a vehicle you see at the dealership, you are not necessarily aware of all the factors that are concerned. You can walk away with your dream car, but may also pay for years for a poor decision that took an instant to make. The best thing to do is have all the information beforehand, much of which, is confidential-such as lease rates and manufacturer-to-dealer incentives which are very different than manufacturer-to-consumer incentives, (known as “rebates”). Why not get two types of “rebates” instead of only one if it is available on your specific vehicle? We will let you know which manufacturers have these programs and how much money they will save you.
2. Finance or lease at a dealership.
False! Dealerships have to finance or lease a certain percentage of their deals through their manufactures bank, in order to conduct business. Example: If you lease or purchase a Mercedes Benz, the selling dealer will use DCFS (Daimler Chrysler Financial Services) over 80% of the time, but this will not necessarily save you money, if Chase Manhattan or Bank of West is offering a lower rate. A good auto buying service will not have to adhere to certain lender, rather just get you the best rates. They will have the resources to find you the lowest rate and save you on your monthly payments with other leading lending institutions.
3. Do your trade-in with the dealership.
False! If you take the time to sell your vehicle on your own, in most cases you will get more money than a dealership trade-in;
however, for security reasons and liability issues, many people do not want to deal with this process.
Settling to trade-in your vehicle to a dealership gets you bottom dollar on your unwanted vehicle.
Dealers buy trade-ins and do one of two things: 1.) sell them at auction, or 2.) put them on their sales floor after reconditioning
costs, tires, smog check, safety inspections, and more. The smart alternative is to get in contact with a well-connected auto-buying
firm that has the wholesalers bid on the trade-ins and negotiate a higher price than you would expect to receive at a dealership.
4. The sales environment of the dealership works in your favor.
Instead of 4-5 hours of negotiating for floormats at the dealership
and then being rushed away into the finance mangers office for
a hard close on accessories you do not want or need, you can first
come for an appointment to your trusted new vehicle purchasing
firm. You will sit down in a calm environment and look at the facts to help you make
up your mind before you take delivery which is usually the next
day. There are no pressure tactics because you purchase on your
own terms.
5. There are disadvantages of working with a new vehicle purchasing service.
False! You purchase or lease your vehicle with such ease that you will be baffled at the process; this is how our company has been doing business for over six years and growing consistently by word-of-mouth referrals. Chances are you know of someone that has purchased a vehicle at Diamond-Motors and our reputation speaks for itself.
6. There is so much information on the Internet that I can do the research myself.
False! Internet Web sites only send your personal information to a dealership that contacts you; there is no advantage to this. Once you arrive at the dealership lot, you are right where you did not want to be: haggling, negotiating, and flatly misled.
