Many people cringe at the idea of buying used cars. This is because of misrepresentation by salesmen and friends who have had bad experiences purchasing pre-owned vehicles.
However, the used car trade has significantly changed in the last decade. Many common myths surrounding the industry have been debunked. Demystifying these myths gives potential car owners the freedom to own pre-owned cars and feel confident that they didn’t get ripped off.
Myth 1: Paying cash will get you a better price
The old saying in the automobile industry that cash is king does not always true when buying a used car. Most dealerships across the country incentivize financing options and may at times pad the interest rates in order to increase the profits made on transactions.
This means that in your journey to buying a used vehicle, choose the financing option that makes the most sense on your budget. Consider all the finance options available. Sometimes paying for a car in all cash means the total cost of the car will be higher. Consider just taking out that loan and paying it off early if you’ve got the money.
Myth 2: The Internet is the only place to get a good deal on used cars
Plenty of used cars with great bargains are available online. Due to the convenience of shopping online, many people browse through the internet hoping to find the best deal without having to talk with a salesman.
While the internet may provide buyers with convenience, it is not the only place to shop for used cars. Switching between tabs reading reviews does not help since your personal experience with the vehicle differs from that of a previous buyer. Despite being a convenient source of information, the internet should be used as more of a starting point in the process.
Part of the car buying process for used cars includes test driving, examining the tires, and having a personal feel of the vehicle while driving through the country’s highways. Performing a thorough pre-purchase inspection with a trained mechanic to give you the assurance and peace of mind before you decide to make a purchase. When it comes to used cars, you have to see them with your own eyes.
Myth 3: Buy today or the deal will be gone tomorrow
Used car dealers have deals available all year to their customers such as lower interest rates and better warranties. Unless the car you have found is in limited supply, you will be able to find a similar deal the next day, week, or even the next six months.
You do not have to feel like you are being rushed into buying a used car if your specifications are not being met. Salesmen will deceive you to make a deal today. Use this to your advantage and always be willing to walk away from a deal if you don’t feel comfortable.
Do not chase deals if you are not getting what you want from a pre-owned vehicle. It is always in your best interest to buy a vehicle at your most convenient time without compromising features that are important to you. When it comes to shopping for used cars, knowledge is power. Always do your research and trust your instincts.