The amount of car buying myths and misconceptions that are out there are truly extraordinary. Some of them, such as you should visit the dealership on the last day of the month, are mundane. Whereas others, such as you will get a better deal if it is raining, are just absurd. A lot of myths (including the aforementioned) are harmless; however, some could result in you paying a lot more than is necessary.
To ensure that you are well prepared the next time you go to buy a used car, consider the below list of common misconceptions and myths that you should not take any notice in. When you are buying used cars in hollywood fl from a dealership, they are incentivized to finance the car due to interest rates that you will pay as a result.
Paying Cash Will Ensure a Better Deal
Sure, the phrase “cash is king” is applicable to lots of different circumstances but it is not true when it comes to buying a used car. When you are buying a car from a dealership, they are incentivized to finance the car due to interest rates that you will pay as a result. As such, it is much more likely a dealer will make more money overall when you lease or finance a vehicle, so will be more motivated to secure those deals, accepting a lesser payment on the day as a result.
You Need Good Credit to Finance a Vehicle
Though having good credit will more than likely get you a better deal, it is not absolutely essential for you to have good credit in order to finance a vehicle. If you consider the rates on the Hilton Car Supermarket, they offer used car finance in Slough regardless of the purchaser’s credit score. They make it incredibly easy for you to finance a vehicle as a result, so you should not worry too much if you have not got a good credit score.
A Lower Price or Payment Means a Better Deal
Not necessarily. There are lots of different sales tactics employed by salespeople and one of these includes focusing on one specific number and not budging. Then, when they eventually budge, you as the buyer will feel like you have accomplished something. This might not be the case.
When you are only focusing on one aspect, such as the price, monthly payments or interest rates, it can be incredibly easy for someone to manipulate the numbers surrounding the vehicle. You may end up paying less for the actual car but then be subject to inflated interest rates. When you purchase a vehicle, ensure you are putting all of the figures into perspective and do not be won over by one low number.
You Need to Buy Right Away
Unless the car that you have managed to find is in a very limited supply or you are given the opportunity to take advantage of a loss leader, there is no doubt you will be able to find a very similar deal in the near future if you cannot go through with it that day. Granted, you may have to take on a lower interest rate instead of a rebate, but the overall amount will average out to roughly the same.