How to Buy a New Car Without Getting Screwed
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Stumble ThisIt's never ever a good deal to buy a new car, but if you do this is some great practical advice on how to.
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new,car,buying,dealerships,negotiate,negotiation,screwed How to Buy a New Car Without Getting Screwed
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I hear people all the time that are afraid to take their car to other places for service because the dealer says they will void their warranty. If that ever happens to you, do these two things. Ask to have that in writing, which they will probably not do. Then have the manufacturer's customer service number in your wallet, ask to use their phone and call them right there and tell them what the dealer is telling you.
The only time I ever take my vehicle to a stealership for service is for warranty service. Always keep receipts for any service you have done, and if you do some of your own maintenance, like I do, keep copies of the receipts of the things you buy for the maintenance and a log of what you did and the date and mileage you did it.
Another thing to do is to create a list and check everything on the car. Make sure that they don't slap a dealer sticker on the back. They don't do free advertising for you; you shouldn't for them. Demand that it is removed. Also, VIN etching is another little trick they use to throw on an extra $300. Most cars unfortunately come with it already; but if you can, demand that they drop that price. You can buy a VIN window etching kit online for $30. Why would you pay 1000% more?
Also, make a photocopy of your driver's license before you go. They'll want to make a copy of your photo ID to take the test drive. Meanwhile, they run a credit check on you. Instead, say that you've already prepared a printout and give it to them. Also, remember! After the test drive, get it back!
We told the dealership we had a loan from our credit union. They asked the terms of the loan and matched it on the contract. This is because if you don't show up with the check in 5 days, they will contractually be able to make you make monthly payments thru their lender.
The funny part is that we decided to just use the dealer's financing, so we started receiving a normal monthly bill from them. What this means is we acquired financing at a rate we defined without a credit or income check of any kind. In fact, they didn't even have any evidence we were approved for the loan elsewhere, so they had no actual idea if we could afford it.
What this means is that you could just walk into a dealership, claim you have a loan at some really good rate, and buy the car for a loan without having to provide paycheck stubs or a credit check.
Loan Hacking 101
There was another method I read about. Dealers pay a set price for a vehicle from the manufacturer and make a percentage of that no matter what they sell the car for. Anything else they can weasel out of you is extra money in their pocket. There's a way to find out what the dealer paid for the car if you have the VIN number, but I don't remember how. Get your own loan and have a check made out for that amount, and get an extra $250-500 in cash. Walk in the dealership, hand the check to the sales person, tell them this is what you're going to pay for the vehicle, hand them the envelope and tell them that's theirs if they make it happen.