A car is a major purchase so it makes sense that you do some research to get the best possible deal. Our BestRide Buyer’s Guides are a great place to start and offer helpful tips for getting the right car at the right price. We also have tips on what to avoid, like these 5 car buying myths that will get you nowhere at the dealership.
Myth #1: You’ll Get a Better Deal on a Rainy Day
No one wants to wander around a car lot or take test drives in bad weather. You’ll get a better deal on a rainy day when sales are slow and no one is coming in to buy, right? Wrong. Chances are you’re not the only one who has heard this advice, which makes it pretty likely the dealership will still be busy and you’ll get the same deal you’ll get on a sunny day.
Myth #2: You Can Trick the Salesman
No, you can’t. That advice Uncle Bob gave you about bluffing and pretending you’ll walk is not going to work. Same goes for springing a trade-in on the salesman at the last minute. You think you’re the only one with those ideas? You’re not, and chances are your salesman has seen it all and will be on to your clever plans before they’ve even hatched.
Myth #3 Paying Cash Gets a Better Deal
It might save you money over financing, but it’s not a better deal for the dealer. They make money on your car loan through a flat fee for putting the deal together and sometimes a percentage point or two of interest that can amount to thousands of dollars. Your big wad of cash means less money for the dealership and is not going to get you a better price on your car.
Myth #4 Buy Now or the Deal is Gone
Unless you’re buying a car that’s in limited supply, chances are you’re going to be able to get a similar deal on that car even if you have to wait a week. Incentives are always changing, but it’s unlikely you’re going to miss out on the deal of a lifetime because you decided to wait a few days before signing on the dotted line.
Myth #5 Dress Like a Slob for a Better Deal
The idea is that the dealer will cut you some slack if they think you don’t have a lot of cash, but it doesn’t work. They don’t care if you’re wearing a ratty pair of shorts or a custom-made suit. It all comes down to that credit report so put on some decent clothes for crying out loud.