Car dealerships and the whole car-buying experience have gotten a bad rap over the years and it’s no surprise considering there are so many myths that we’ve been led to believe. However, just like in any other business, not everything that we have all heard about dealerships and buying a car is true, but the myths still perpetuate since many car buyers don’t actually look into them. Fortunately, Everyman Driver recently posted a video on YouTube going over the most common car buying myths and we wanted to lay them out here for you and explain each one.
Myth: Trade-ins are always worth the KBB value
Kelley Blue Book has been around for over 100 years, so it’s no surprise that it truly is the “trusted resource.” And while you can still depend on the almighty Blue Book to get a ballpark price on your lovely Toyota Corolla, just remember that it’s best used as a guideline in which to value your car, not an absolute.
After all, there’s a reason that the valuation tool on KBB.com gives you a range of values, as opposed to a specific one because in reality, it runs on algorithms that are updated every so often and it can’t see any damages or wear and tear items that are on your actual car.
Myth: Car lemon laws cover ANY vehicle sold on a dealer lot
While there are lemon laws in all 50 states to protect buyers when they purchase a new car, there are only six states that protect buyers when buying used cars. It has become a popular myth that the lemon laws are somehow universal and protect any type of car you buy, however, that is not the car. Be sure to check your state’s lemon laws to find out more.
Myth: All extended warranties are scams
There’s no doubt that some extended warranties being offered by dealerships are scams, however, not all of them are. According to Everyman Driver, extended warranties are offered by third-party companies and it’s up to you to do the research and see which companies are reputable. And don’t worry, there are reputable ones out there.
Myth: Avoid brand-new car models
This one doesn’t make any sense. Automakers spend countless hours on the research and development for every new car that they put on the market, so why would you want to avoid buying one? When it comes to price, however, we can see why you might want to go with a used car to save money. But, then again, that’s why you should always negotiate when buying a new car.
Myth: Dress like you don’t have money to get a better price
This one is downright ridiculous, because not only is it not true, but dealers also have to check your credit and income when you buy a new car, so it doesn’t really matter how you dress. The numbers don’t lie and your car buying worthiness isn’t going to depend on the clothes that you happen to be wearing. After all, there are plenty of millionaires that dress in casual clothes all the time, it doesn’t mean that they don’t have money.
Bonus: You can get a better deal on a rainy day
This myth applies to the notion that you can get a better deal when it’s raining because that dealership will most likely be slow that day and they’ll be begging for your business. After working at a dealership for over four years, I can honestly say “yes and no” to this one.
On one hand, it’s a myth because dealers have the same discounts and incentives all month, so they can really only do so much on the price, to begin with. But on the other hand, dealerships are usually slower on rainy days, so depending on which one you happen to shop at, they could be more open to whatever you might offer since you’re probably one of the only customers to show up that day. In reality, it’s a toss-up, but it never hurts to ask for a deeper discount.