How Car Dealers Try to Rip You Off

Purchasing a car is a pretty exciting endeavor, especially if you’re ready to start driving around in style in a brand new automobile. Unfortunately, the whole process of buying a new car can be overwhelming and totally skewed for the majority of individuals. Just drive onto any car lot right now with the intent to buy and you’ll be met with a variety of salesmen who are all looking to get you the best deal so that you can roll away right now in your dream car. The problem comes when you’re met with high-interest loans, packed payments and a plethora of additional fees because you simply and plainly got ripped off during the process.

Here are just a few of the ways car dealers will try to rip you off:

Packed Payments

Payment packing refers to something that a lot of sales people do in terms of hidden fees and charges. Legally, they can tell you that your payments will be one price, only for you to find out that they’re much more when you go to pay them. This is because the car dealer assumes that the loan manager will divulge these details to you and that they are not responsible for doing so.

Spot Delivery

Spot delivery is probably one of the most frustrating ways a dealer can rip you off. Essentially, the car dealer will let you drive away in the car with the promise that you are now the owner of it. Little do you know that your loan hasn’t even been approved. If your loan is denied during the process, the car is taken away from you despite the fact that you were under the impression that you owned it.

Knowledge of Credit Score

Your car salesman can run a credit score on you in a relatively quick amount of time. By knowing your score, they are able to find the most expensive car to sell you knowing that you’ll be approved for the loan. This is when car salesmen often tell you that they don’t have anything in your price range and will try to push more expensive cars onto you.

Additional Fees

It is beyond frustrating to be told that your car is going to cost one thing only to find that you’re left paying a lot more for it. These additional fees make it difficult to pay off the car on a budget and you’ll be left wishing you hadn’t made the deal.

Loan Packaging

Loan packaging refers to the sales people adding additional services that you simply don’t need without you even being aware of it. If you look at the details of your loan, you might find a variety of add-ons that you didn’t sign for when you purchased the car. This is why it’s imperative that you carefully look over the loan deal to ensure that it is exactly what you need.

Not Enough Money for a Trade-In

The salesmen might tell you that your car is not worth that much money despite you knowing that it is. It is important to go with the Blue Book value of your car to ensure you’re getting a fair price.

Paid Warranties and Extended Service

Many salesmen will try to up-sell services and promise the safest cars that you just don’t need or want. This might include an extended service warranty or some type of guarantee on the vehicle. This can come to be a lot of money on your loan, and you’ll wind up paying for it in the end during your monthly installments.

While it’s not horribly uncommon to be scammed and lied to during the car buying process, it’s important to stay vigilant and to know what is going on at all times in order to drive away in the safest cars. Don’t sign any paperwork until you thoroughly read all of the fine print, and don’t be afraid to say no to a car dealership in order to go to a different one.