Whether it is your first or your tenth experience with the endeavor, buying a car is always exciting. Choosing the vehicle that is going to be your companion on the road for the next few years is just fun, and it never gets old. Getting a new car is fairly straightforward; buying a used car is what can be tricky. You want to get a sturdy vehicle that can last you for a few years, but that might not always be easy considering how dealers tend to hide any existing faults and serious problems. This is how you can know if you’re being ripped off when buying a used car.
The Price
As a general rule in life, if something is too good to be true, then it probably isn’t. This rule is especially more so with used cars. Before you go and shop for one, do some research and learn the average prices for the vehicle you have in mind in both new and used conditions. This will help you decide if the cost of the used car you desire makes sense or not.
If you find that the dealer is offering the car for a price significantly lower than the average you already know, then something is probably wrong with the car, even if they say it is in perfect condition. In such cases, you need to have the car examined by a mechanic you trust, because there’s no reason to sell it for such a low price unless it had a major fault. If the price is too high, then the dealer is trying to rip you off.
Sales and Discounted Prices
While all salespeople want to get the deal over with as soon as possible, sometimes this rush is to drive you to purchase the car for a higher price than you should pay. They have some tactics to get the job done, like glossing over your questions and just rushing the whole process. It might be a good idea to check online for used car sales so you could try to find a good deal online before going to a dealer and falling into their schemes of trying to get you to pay a higher price. Most of these tactics are to get you to become so impatient that you will just settle for the higher price to get the deal over with as soon as possible.
It’s important to check all dealership options, such as private dealerships or even ford dealership in order to find the best deal and not get cheated. Also, be sure to carefully read through all the paperwork and double check if there are any hidden fees or additional charges that you were not aware of.
No Vehicle History Report
As a potential buyer, you are entitled to ask to see the vehicle history report so you could know what kind of maintenance the car went through since its purchase. You could try to get a CarFax report to see if the vehicle had previously scheduled maintenance because it will cost more down the line if it didn’t. If the dealer doesn’t want to help you find the vehicle history report or is stalling, they might be trying to drive the price up, especially if they claim that the car never had previous maintenance without proving it.
Spot Delivery
This is basically often used as a scam. Some dealerships tell you that you can take the car home for a few days before the financing is finalized. They then call after those few days to tell you the loan was not approved and threaten to repossess the car if you don’t return it.
When you do come back, they will offer you a different loan with higher interest rates or try to drive up the down payment, sometimes both. Either way, they’re trying to rip you off and charge you for more money than the car’s actual worth. This is why it is better that you don’t take such deals unless the financing is finalized, or if they pull this, return the car and go find another dealership to deal with.
The Negotiations
One of the easiest ways you could get ripped off while buying a used car is during the negotiations. The dealer will focus on the monthly payment rather than the overall price, which gives them control over financing terms. They give you the monthly payments you want without any discounts on the total cost. But in fact, you will find that the payments stretch out over more months, so even if they were affordable, you end up paying more.
Buying a used car does not have to be a horrifying experience if you know what you’re doing. You just need to be prepared and attentive to the little details that might lead to you being ripped off. Dealers are not necessarily manipulative, but they always want to maximize their profit, so that is something to always keep in mind when negotiating.