When it comes to car shopping, always follow your guts as long as you made enough research.
Note that there are a lot car buying myths and misconceptions that you shouldn’t pay attention to. It’s a common situation since car shopping attracts those ones who are not necessarily informed about the topic.
It could be a friend or even a family member who is not as informed as you wish he/she is. Either way, car buying myths exist everywhere.
It’s in your best interest to do some research when buying a new car. For that reason, here are 4 common myths when buying a car and what you need to do about it.
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#1 Hiding a trade-in for reselling opportunities
You’ve probably heard that some people try not to disclose any information of future trade-ins until the dealer sets the price for the new vehicle.
That myth is actually false. It’s advisable to let your dealer know about your trade in advance so they could work on a better price for you.
Do not hide your trade-in intentions as it is not going to have any effect on the price for the new vehicle. Always keep that in mind.
You could even make some research prior to visiting your local dealership so you would ensure you’re getting a fair price for your trade.
#2 Buy a car every last day of the month
This is a misconception that is rooted on TV or Radio commercials where auto dealers announce great deals every last day of the month.
That encourages people to believe that good sales happen only during those dates, which is not even true.
Car manufacturers tend to introduce new prices at the beginning of the month, and they keep them active until the last day of the month.
If you are skeptical about it, visit your local dealership any day during the start of the month to see that nothing really changes as you’ve been told.
This myth has more to do with marketing and company goals. Sales representative are usually willing to announce those already-existing sales and promotions to reach their own sales goals for the month.
#3 Never walk out from a negotiation
This misconception keeps you far from buying smartly since you are only relying on one single interaction rather than having an ample view of possibilities.
Just because you are stuck with one sales representative doesn’t mean you cannot end the negotiations to look for other choices. You are in charge!
Never underestimate the power of a solid, “No, thank you,” and find your way to the next choice.
It could be that your dealer tries to come up with additional benefits and suggestions to make you stay with them, but you have the power of declining an offer.
#4 The more you look, the more likely you’ll get a great deal
It’s part of our buying behavior to shop around and look for choices and other alternatives. There’s nothing wrong with that as long as you find something meaningful, either at the beginning or at the end.
Many car buyers have bought their vehicle at their very first visit, checking the nearest dealership before expanding into other areas.
This myth suggests that you should be digging out for more when there’s not really much to think about when the first offer sounds like a great deal.
Make your experience enjoyable and get your favorite car with no regrets. Note that many dealerships offer similar prices so your chances to get a better price than that are quite low.