I was just reading some emails from people that had some rough experiences purchasing a new/preowned vehicle. I worked at a dealership in sales for a year while I was attending college. I kind of know the "routine" that comes with purchasing a vehicle. I'm sorry your experiences were a nightmare. I am not employed at a dealership so I just have some advice if you care for it.
Check out the vehicle you wish to purchase on the Internet or in magazines or whatever that can give you solid information about the vehicle. Like features, price etc. The more informed you are about the vehicle, the better
Credit history is crucial. If your score is not 600-800, you are at the mercy of certain financial institutions. At the time I was employed as a salesman, we dealt with 100 "banks" to get the customer some form of financing. If you have a credit history of slow pay, late payments or no pay, it makes it more difficult for financing. Bank guidelines are constantly changing. They want to get paid also and if you already have "spotty" credit, the dealership is at their mercy! They don't get paid not selling a car! The interest rates are 12%-25% or even higher! And we know vehicles depreciate as soon as you drive them off the lot! Get a credit report before you go to the dealership so you can verify the information is correct and valid.
We all want the $250.00 a month payment, 5.9% for 48-60 months. But let's get real, that's a 10-12K vehicle.in the real world, we look at a 25K-35k vehicle or more. Well that's not $250.00 a month, that's $450-600 a month, maybe for 60-72 months, depending on the interest rates, etc. Those days of a low monthly payment are gone unless you buy a Kia, Suzuki, Daiwoo, Hyundai or a preowned vehicle. I just bought a new 2003 Jeep Liberty Sport, $15K out the door, 5.9% @ 60 months...$292.22 a month. I can't even get a $250.00 payment and I know how it works!
As far as the sales people, if they are rude, mean, deceptive or whatever... Get up and walk out. No laws requiring you to buy that vehicle. If he/she is a good sales person, 80% of the selling should be outside on the lot, the other 20% is doing the paperwork. It should be a pleasant experience. You are spending XXX dollars, you deserve professional courtesy.
If you can sell your vehicle privately, do so instead of trading it in especially if it has over 100k miles or 6-8 years old. Get the cash and use it for the deposit/taxes. Most people don't have the time or they want the new vehicle ASAP instead of selling it themselves. Here's where the headache starts. Everyone's vehicle is worth more then they offer. Go to kbb.com or nada.com to get some ideas on what your vehicle trade is worth. Not retail. Trade value. But if the dealer can get it cheaper, why not? You would do the same selling it outright. How do you think Walmart stays in business? They purchase by the bulk to sell at low prices but in turn, it shuts down all the little stores that can't purchase products at that price. Too much overhead for the little shops. Is that fair? Is anyone complaining about their business tactics?
In turn, they have to make a profit to keep the doors open. Do some homework yourself. Be prepared to get up and walk out if the deal goes South. Maybe it's not the right time to purchase a vehicle. Who know's except you. Buyers purchase vehicles with their senses; smell, touch, and sight. They seem to forget about the high price except when the dealing starts. Take your time and be careful. I hope this helps.
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