Purchasing a new vehicle can be a stressful experience, but it doesn’t need to be. Before heading to the dealership to pick out the new or used car of your dreams, it is important to remember that the majority of dealers compensate their staff on commission.
Here’s something to keep in mind while you’re negotiating: No sale = no commission. Conduct your own independent research on the safety and reliability of the vehicle you intend to buy.
Don’t depend on the dealer to do your homework for you.
With all negotiations, you’re in the driver’s seat because you have the ability to walk away from the deal at any time during the process if you feel unsatisfied.
Sometimes, all it takes is the simple gesture of walking away to get a dealership to change its tune.
Don’t be surprised if you get a call moments later to try and lure you back to the dealer. Who can blame the salesperson?
They have invested time showing you the vehicle and crunching the numbers, but that doesn’t mean you should feel obligated to buy from them.
Lookout for deceptive advertising tactics
Be wary of deals that sound too good to be true. It is hard to watch television or listen to the radio without coming across an advertisement by a local dealership or auto manufacturers.
The reality is they advertise frequently across all media platforms, including online and social media.
Some dealer advertisements will tout low payments, sale prices, rebates, incentives, high trade-in value - the list is endless.
As with any special offer or sale, always read the fine print. There are often conditions and restrictions that aren’t always obvious.
About auto dealerships
As with most for-profit businesses, car dealerships exist to make a return for their owners by providing valuable products and services for their customers. Most dealers understand satisfied customers are paramount to their business’s success in the community.
The longevity of many dealerships is testimony to that. Did you know that dealers can earn money on everything they sell?
That includes cars, add-ons, maintenance and financing.
Just remember, you can shop around for everything a dealer provides to make sure you get a fair price for what you buy.
Before you arrive at the dealership, check their online reviews to learn about other customers’ experiences.