buyingKnow When to Walk Away From the Car Dealership

21:30  06 december  2018
21:30  06 december  2018 Source:   consumerreports.org

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Car buying red flags: 5 signs you need to walk away from a deal. Haggling over a new car or lease deal can still be an unpleasant experience, even Even though I am a reporter who covers Wall Street and know a lot about managing money, my anxiety level spiked when the finance guy sat me down to

Knowing when to walk away , however, can be difficult. You don't want to ruin the business relationship, but you Although a car may be listed at ,000, the dealership is able to negotiate. Kelley's Blue Book is an invaluable resource, as it lets you know the dealer and private seller valuation.

Know When to Walk Away From the Car Dealership © Provided by Consumers Union of United States, Inc.

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These are four signs that a car dealership isn’t treating you fairly. The worst dealers use bluster and pressure, so it’s important to remember that you—not the dealer—set the pace for buying a car. Be aware: 90 percent of car dealers pay their salespeople on commission, according to a MAXDigital survey, so it’s in the salesperson’s interest to sell you a car. Do your research ahead of time, and remember that you can walk away at any time. After all, it’s better to take a break from negotiating than to get stuck with a car you paid too much for.

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Walking into a dealership and buying one, on the other hand, ranks up there with public speaking and visits to A dealer who knows you’ll buy at a certain payment may offer tempting lease or financing deals with payments stretched No new- car deal is too good to walk away from , because the sight

Car dealerships make money many ways. One of the most surprising? By leveraging your emotions. Walking away from the table is often your best tactic, but after finding a car you love, you might not want to say goodbye. Knowing how and when to walk away will ensure you’ll never have to overpay.

They Won’t Quote You a Price by Email

If a dealer won’t offer a price quote via email, or if he responds only to say you should come into the dealership for a quote, it’s time to find one who will commit to a price in advance.

They Pull Out the ‘Four Square’

This old-school sales technique uses a worksheet divided into four boxes—your trade-in value, the purchase price, your down payment, and the monthly payment. Focusing on that monthly payment is meant to distract the buyer from negotiating down the vehicle’s overall price or to hide the length of a loan or interest rate (or the money factor, in the case of a lease).

They Pressure You to Buy

A dealer may ask, “What will it take to get you into this car today?” or pressure you to sign paperwork during the negotiation process. Some of these documents are legally binding, and others aren’t. Take as much time as you need to read every document carefully, and don’t sign anything until you feel comfortable with the numbers you’ve been offered.

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Even if that decision means walking away . Pick your dream car . It's always shocking when I talk to a friend who bought a project car simply to have Answering questions like these will be key to avoiding speed bumps in the process. You don't want to restore the car mechanically and then realize you

He walked away from the deal he had once coveted, probably saving Bridgepoint millions of dollars in the process. “What we thought we knew turned out The final leg of a sound due diligence process is determining a walk - away price—the top price you are willing to pay when the final price negotiation is

The Final Hard Sell

Often, the car-buying experience sours when you go to the finance and insurance office. This is where you’ll be pressured to buy extras like extended warranties, VIN etching, upholstery protection, and GAP insurance. Most of these are unnecessary or can be negotiated down in price. Do your research beforehand, and don’t agree to any charges until you’ve had time to think them over.

Editor’s Note: This article also appeared in the January 2019 issue of Consumer Reports magazine.

Consumer Reports has no financial relationship with advertisers on this site.

Consumer Reports is an independent, nonprofit organization that works side by side with consumers to create a fairer, safer, and healthier world. CR does not endorse products or services, and does not accept advertising. Copyright © 2018, Consumer Reports, Inc.

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