End the new car deal - what should you do
After you negotiate a deal with the salesperson, your buying experience moves to the most dangerous place, and your goal is to get a substantial deal. You will be taken to the business office, also known as the Finance and Insurance Office, to complete all paperwork. We'll show what's happening in the business office and see a few common practices that business managers can use to mislead you.
When you move to a business office to complete a new car deal, the real high-pressure sales strategy begins. Don't be fooled by the title "finance manager", it's just another name for the salesperson. Their job is to sell you high-profit add-ons. This is the most profitable department in the dealership. Because the salesperson sent you to the next customer, you feel that you are safe. But you are far from safe.
1. Additional costs for transactions
2. Avoid unnecessary extra costs
3. Overpriced extended warranty
Myth: "I will buy it at the dealership, it is cheaper and more convenient."
Many times, you get a "menu" from which you can choose. You will notice that "None" is not listed, but this is the option you should choose. Do not purchase these plans at the dealership. The dealers are just a middleman who set the price high and made a lot of money. You should buy directly from the source. If you buy from a dealer, they usually don't show you the contract in advance, so you hardly know what you are buying. You only need to have their verbal commitments or marketing charts, and the details on these tables will make you very upset.
You must read the contract before purchasing any guarantees. Don't let them give you a false sense of security and keep you away from everything. There are so many weasel clauses in a car dealership contract, and if you pay half of the claim, you are lucky.
Are they financial managers or “living” managers?
Finance staff can lie to you in terms of interest rates or currency factors and pad your monthly payments. In fact, this epidemic is so serious that I call people who do this kind of thing a "lien". Most financial managers are good people, but we all know that many people will try every skill in the book. Read the contract carefully. Many people take their promises as April or monetary factors and then find it higher later, but they have signed it, it is too late.
4. Never buy these extra things!
- Antirust
This is their net profit. They charged $800 or more, how do you know if it is in the car? Most cars have a 6 year / 100,000 mile anti-rust warranty, so you don't need this. Tell them you don't want it, if they say it is already in the car, tell them you don't pay.
- Fabric protection
It's cheap and easy to do this yourself, so don't let them betray you.
- Paint protection
Don't waste money on these garbage. My friend who works at a Chevrolet dealer says it is in a $5 bottle. It’s just wax, they promise to last for years. No car wax can last for years.
If your credit is not good, they may tell you that you must buy this insurance. This lie is illegal. You can buy it cheaply from your insurance agent. Credit disability insurance is a joke. If you are injured, you should be compensated. But it won't start until 15 days later. They provide you with pre-existing conditions. Many dealers conveniently finance these policies into loans, so now you have to pay interest.
- Credit life or disability insurance
5. Signing documents
Be sure to check their numbers carefully. Do not sign before you are sure. Check the amount paid with the car's final cost to make sure they didn't steal anything. Just because they do everything on the computer doesn't mean it's correct. If their monthly payment calculation differs from yours by more than one dollar, question them. They might say, "Only $9 a month, you must have made a mistake." But in a four-year loan, this means 48*9=432. Once you have signed the contract, you effectively agree to "read and understand all the numbers."
