| Car Buying Guide | | | | But sadly, they lie! What are they hiding? How much |
| Car salespeople are expert at "dealing"... their goal is to | | | | profit do they have in the car they are trying to sell |
| make as much profit from you as they can whilst | | | | you? Was that car overpriced to start with? How |
| making you think that you're getting a good deal. My | | | | much of that (possibly inflated) profit are they "giving" |
| old salesmanager (yes, I used to sell cars at a main | | | | you? All tactics to fool you. |
| dealer) used to say that "there is nothing immoral in | | | | They will lie about anything and everything - how much |
| profit" - but they would screw every last penny of | | | | they want your car, they have got someone else |
| profit from each car deal they did, and then laugh | | | | interested in their car, your car has this fault or that |
| about it in the pub that night. | | | | problem etc etc. |
| To get the best deal, you need to understand: | | | | Then, how good/bad is the finance deal they are |
| What price you really get for your car | | | | providing? Are they charging over the odds? Quite |
| The clever tactics dealers use to fool you | | | | possible. Are they offering zero percent? Forget that |
| How to "out tactic" them | | | | too. It does not exist! No finance company will EVER |
| What to say and what not to say | | | | lend money for nothing - not even the finance |
| How to say "No" and ask for a better deal | | | | company owned by or representing the car dealer - |
| How to spot and avoid bad finance deals | | | | they are out to make money too. If you get a "zero |
| Zero percent finance isn't real... it does not exist! | | | | percent loan" you can rest assured that they have |
| There are many ways that a car salesperson can fool | | | | extracted money/profit from you another way in order |
| you into thinking you are getting a good deal - | | | | to "pay" for that loan. This is just another tactic to |
| however THE easiest way is by "giving you a good | | | | make you feel that you did well - when in all likelihood |
| price for your part exchange". | | | | they have really profited from your deal. |
| Forget this... it doesn't happen... you get the TRADE | | | | So - if you don't know what you are doing: |
| price (sometimes called "bottom book") that's it... no | | | | What you get for your part exchange car - a grey |
| more! | | | | area. |
| The fundamental fact is that: if you trade in your car | | | | How much profit they have got to play (you) with - |
| you will only ever get the Trade price for it - it doesn't | | | | a grey area. |
| matter what your car is, how good it is, how few miles | | | | What you pay for your new car - a grey area. |
| it's done, what dealer you go to, whether it's the main | | | | How good a finance deal you get - a grey area. |
| dealer for your make of car, or whatever - you will | | | | You don't know the answer to these... but the car |
| only ever get the Trade price for your car in a part | | | | salesperson/salesmanager does! You buy a new car |
| exchange deal. | | | | once every what, 1, 2, 3 years? They are doing deals |
| If you don't understand this you leave yourself wide | | | | every single day. Just by weight of experience: the |
| open to being fooled, misled, conned, ripped off - | | | | odds are stacked against you. |
| whichever way you want to put it! | | | | Start moving the odds more in your favour: |
| FIND OUT that trade price for your car. Then, tell the | | | | Accept that you will only get the Trade price for |
| dealer that's what you want for it - that really takes | | | | your car. |
| the wind out of their sails. In any "negotiations", always | | | | Use that price as the basis of any negotiations. |
| assume that is what you are really getting for your car | | | | Have a range of reasons to say "no" and push for |
| so that you can more accurately tell what is going on. | | | | a better deal. |
| What makes a car "deal" complicated is that you are | | | | REFUSE to have "zero percent". |
| selling something (your old car) AND AT THE SAME | | | | Check any normal finance deal you are being |
| TIME buying something (your new car). The dealer has | | | | offered. |
| an amount of profit in the car they are trying to sell | | | | Assume that everything and anything they tell you |
| you and they can use that "amount of profit" to pull all | | | | is, lies! |
| kinds of cunning stunts: their favourite is to "over value" | | | | They have got loads of profit in the car they are selling |
| your part exchange. | | | | you, and: they really, REALLY want to sell it to you. |
| None of us want to think that we lose loads of money | | | | Hold out, say no, and push and push and push for a |
| on our car - you want to (think!) that you get the best | | | | better deal - you need to have several reasons why |
| price possible for your old car. You don't, you get the | | | | you won't do a deal at the price they are offering, you |
| trade price, period. | | | | need to give yourself as many negotiating tactic as |
| However, if the dealer appears to be offering you a | | | | they will throw at you! If you do this right, you will be |
| "really good price" for your part exchange, more than | | | | surprised how far they will go and what a really good |
| the other dealer down the road, you feel good and are | | | | deal you CAN get! |
| more likely to buy from them. | | | | |