At BSP, we’re always trying to help. A couple of months ago, I went looking for a new vehicle. I know, from a financial standpoint it makes no sense to buy a new vehicle. New cars lose big value once they leave the dealer’s lot. Well, I’ve only owned four cars as an adult and three of them I bought used. I’ve owned only one of them for less than 14 years. It kind of sucks buying someone else’s car. Especially if they were a smoker, as was the case when I bought my first truck. I think the smoke went away after a very expensive, very thorough detailing.
I decided to link to this article, “Confessions of a Car Salesman.” I did a ton of research on the vehicle I purchased, and most of what he says is true. Dealerships make tons of money off cars; not salesmen.That’s why they’re so aggressive.
You know, the funny thing, while I was dealing with the salesman, I saw person after person filing into the dealership, and leaving with a new car. To me, that’s really interesting: They want you to make decisions involving big money really fast. It was funny, the salesman…who was a really nice guy for the most part…asked me what they could do to get me in a car that night. I told him “nothing.”
The thing as a buyer you should remember is patience. He was like, “We aren’t patient, and we like to get people into cars quickly before we sell the one they want.” I asked him “what, you’re going to run out of cars tonight?”
He even laughed at that line.
When I bought my vehicle, it was easy because I’m an analyst. Take your time and do your research. Find the vehicle you want beforehand. Use your bank’s resources. Get your loan before you walk into a dealership. Find out which dealerships are “volume” and move cars versus those who are trying to max profit off each vehicle. The dealer I purchased my vehicle from was one of the top dealers…actually the #1 dealer of the vehicle in the United States. The guy just wanted to get me out the door in his car. We had negotiated a price, and I had already picked the vehicle with the traits I desired on line.
The one thing you don’t want to do is buy extra crap at the dealership. Remember, you’re paying for BS you’ll never use when you buy their maintenance plans. You’ll kick your own self in the butt when you realize you are spending a portion of your car payment on nothing.