Consumer Watch: Tactics that Dealerships are Pulling
With the new car line that automakers are offering going up in price and dwindling down as they are not producing as many cars due to the parts shortage that are centered out of Japan, which means that those who are going to the lot to find that new car are going to find that the competition is stiff, and car dealers are rolling out the red carpet trying to put people into new vehicles. However, before thinking that your car dealer is the best that is out there, the person must be aware of the few common scams that these dealers are running on people so that they are better protected.
First off, more dealers are pushing the dealer financing simply so that they can get the benefit from the interest rate that they are charging. Researchers have found that more and more car dealers are making customers write down their social security numbers and running their credit to try to offer them a better rate than what they have in a car loan presently. However, this is not necessary. So for those that are not wanting to give out this information and if they have a loan, then they should understand that they do not have to give this information, nothing states that you have to give it.
One of the tactics that more and more dealers are using is the monthly payment tactic. How many times have you been in a car lot and they ask you what kind of payment that you are looking for in a car? They are then going to get you into a more expensive car, with a monthly payment that makes you think that you are getting a great deal. However, after paying interest on this long-term loan you may find that you pay a total price much more than what you thought.
With all the tactics that dealers are reducing themselves to, it is now more important than ever to make sure that you go into the dealership prepared and ready to walk should you see any tactics being used on you.
