What to Look Out for When Considering Car Dealerships
Being a savvy and aware consumer means that you need to be alert and do your research. If you want to get a great deal on a car, you will need to be open-minded and willing to take advice from others, but you also need to ask plenty of questions as well.
When it comes time to buy a new or used car, you have one critical decision to make- which car dealer you will be getting your business? Selecting a car dealership to work with is usually the single greatest decision that a consumer can make. This decision can influence every aspect of your buying process. Of course, this means that you want to make the best decision possible, and here are a few of the ways that you can avoid the untrustworthy dealerships and give your business to a reputable dealership that has earned your business.
A Dealership Has a Problematic Reputation
Now it may seem as though investigating whether or not a dealership has a bad reputation is a “no-brainer”, but oftentimes people simply forget about this step. Let’s face it; life is hectic. We all get busy, but where buying a car is concerned you want to invest the time to find out which car dealerships in your area are trusted. Read the reviews for local car dealers in Google Places.
Yes, Indeed Pushy is Bad
If you walk into a dealership and get a bad vibe, that could be quite important. However, if you also feel that pushy salespeople are harassing you, you know that you have a problem. In particular, if a salesperson tries to push a particular car on you, then it is time to head for the exit.
Be Aware and Be Observant
When you are at a car dealership, if you see or experience something that you find troubling, that is important firsthand information. A good example of this is poor quality inventory everywhere you look, but high sticker prices. Keep your eyes and ears open and you might just have the answer as to whether or not a given car dealership deserves your business.
Here are Some Common Scams to Look For
1. Lies about your credit score
Some untrustworthy dealerships will make your credit score appear lower than it is so that they can get you to pay a higher interest rate. Make sure that you know your credit score ahead of time to avoid this issue.
2. Focusing too much on monthly payments
Many dealerships will avoid telling you the price of the car you are buying, and only focus on telling you what your monthly payments will be. For all you know, the monthly payments are low because they will be taking place for the rest of your life! Be sure that you know the exact price of the car that you are buying.
3. Financing scams
Another scam some car dealerships employ is calling you weeks after you sign an agreement to tell you that your financing fell through. Their unscrupulous goal is to get you into a more expensive car. Be on the lookout for this scam.
4. Balloon payments
In some cases, dealerships present a very low monthly payment package, but there is a balloon payment down the line. This means that at the end of the loan period, you will be required to make a very inflated payment. If this is your financing goal, make sure that you are very careful and budget appropriately. Often times people don’t realize a balloon payment is necessary and end up in financial trouble at the end of their car payment terms.
Get Pre-Approved Now!
Ready to apply for financing? Fill out our application form here to get started: https://www.carloanscanada.com/credit-application/