Although fraudulent and cheap cars dealerships are long-standing cliche, buyers are often nonetheless misled and charmed by them. Here are some mistakes you need to avoid when buying used or modified cars from a dealership:
Purchasing the vehicle without Negotiating the Price:
Used cars come with high margins. If you immediately pay the price asked by the seller without any negotiation, you are spending too much. If the dealer insists that price he quoted is the least and they have many customers lining up to pay for it, then ask yourself: Why those people are offering such a right amount when with many such people are dying to purchase that used car they could ask for the higher price?
Not Getting Things In Writing
Used car dealers may put any number of representations or claims about the vehicle, including, its condition or the car’s history when attempting to sell that vehicle to you. However, if the dealer pitch is found to be misleading or false after some days you are likely to hear, “Who said that” or “there must be some understanding”. If the dealer is making some representations about the car, which he is not willing to put into writing, there is a fair chance that what you are seeing and hearing is not true, so always be ready to get everything in writing.
Purchasing the used car from an Out-of-State Dealership:
It is not always wrong to buy a cheap car from a dealer who is out of your state. However, when issues arise your options are limited by distance. Most of the car buyers share horror stories regarding cars from the remote or global dealer. They do all this only to get something that its condition was misled, or to strive for days or even months to receive the dealership to pay off or transfer the title.
Making Poor Warranty Options:
When you buy a second-hand car, you might have benefits of remaining of manufacturer’s warranty, and maybe even extend it. But, when that isn’t possible, you will usually face the option of buying the car as it is or purchasing a third party warranty. Ensure that you investigate about that third-party warranty provider. The reason of this investigation is that most if not all third-party warranties are done by fly-by-night service providers that exit out of the field every 3 to 4 years, leaving their current customers without any coverage, and then they resume their insurance businesses under a new name or brand.
Failing to Explore Financing Choices
The used car dealerships have its earnings at heart. Not the question of whether it’s getting you with the best loan for your hard earned money. Make sure to review the financing options available through the cheap car dealership, however also try to check what financing choices you can easily arrange for yourself through your credit union or bank.
Making a Non-Refundable Deposit:
Until and unless you are certain that you are buying a used car, ensure that any deposit you pay on your car is refundable or not. Ask your dealer to put this clause into writing that if you change your plan to buy cheap cars or if you are changing your mind to get modified cars, you are entitled to get back your full deposit.