Before you decide which car to purchase, you need to partner with the right car dealer first. You want to look for the best car that suits your budget. You need an honest response from your dealer. The problem is when you choose the wrong dealer whose primary goal is not to help you but to rip you off. These are some ways that dealers could rip you off and make you lose more money if you decide to pursue any transaction.
Use of “bumper” stickers
The term “bumper” sticker refers to the sticker next to the manufacturer’s suggested retail price. The dealers hope you will not notice the original price and believe the price on the sticker that they placed. The amount is a lot higher because some dealers upgrade the vehicle when you do not need upgrades, or you can do them yourself at a much lower cost. The solution is to ask for the original invoice to determine the actual price. If your dealer refuses, it is time to walk away.
Inflating your interest rate
Another terrible thing that might happen is when you let the dealers submit your credit application to lenders if you are unable to pay for the vehicle in cash. For instance, if your request for the 7.9% interest rate got approved, the dealer will most likely end up telling you that it is 9.9%. The extra cash will then go to the dealer. It might seem insignificant at first, but it could be high once you compute in dollars.
Paying for customer service
You do not need to pay for customer service, especially when the dealer did not do much to help you. The amount could be up to a thousand dollars, and it is not worth paying. The service fee refers to the amount you pay the dealer for dealing with the loan paperwork and processing your title or even paying taxes. If you are going to obtain the financing elsewhere, you can ask for a reduction of the total fees.
This type of insurance policy refers to the difference between the amount you owe and the total worth of the car. Your dealer will try to sell you this insurance at a price which is way higher than what you might typically get if you decide to purchase it elsewhere such as in local credit unions. Since you think the insurance is necessary and you have no idea about the other possible options, you decide to take the deal and lose quite a lot of money.
Do not allow car dealers to rip you off. Be smart before you face any dealer. Know the vehicle you want, and the process involved in doing any car-related transaction. You may also visit a Dodge Dealer Wyoming offers for more information about used or new car models. You will not go wrong if you choose them, unlike other dealers who do not have your best interest at heart.