Should you tell dealer you have trade?
Don’t tell a car dealer about your trade-in Fundamentally, says Bill, “dealerships like to move money around. So it probably also is not in the buyer’s best interest to mention right up front that he or she has a car they want to trade in.
Should you tell dealership you are paying cash?
Dealers prefer buyers who finance because they can make a profit on the loan – therefore, you should never tell them you’re paying cash. You should aim to get pricing from at least 10 dealerships. Since each dealer is selling a commodity, you want to get them in a bidding war.
Should you tell a dealer how much you owe?
No point in you telling them unless you are completing the trade in and purchase at which time they will either ask you the exact balance of the loan or call that lender and get a pay off amount exact going forward 10 days. Your payoff has nothing to do with the value of your vehicle.
What does Dave Ramsey say about buying a car?
As a general rule of thumb, the total value of your vehicles (anything with a motor in it) should never be more than half of your annual household income. Dave doesn’t recommend buying a new car—ever—until your net worth is more than $1 million.
Do dealers like cash buyers?
Many dealerships appreciate having all their money upfront and not having to deal with monthly payments. You may find that you have more leverage when paying cash because the dealership might be willing to take less money in order to get all of it right away.
What kind of tool does a car dealer use?
These VERY EXPENSIVE tools are platforms that ALL dealerships use to get a very clear view of what their pre-owned cars are actually selling for (not their asking price – their selling price) and what dealers are actually buying cars for based on year, make, options, mileage, and condition. The pre-owned cars game is OVER.
Can you tell a dealer you are a first time buyer?
Never tell a dealer that you are a first-time car buyer unless you want to be on the express train to overpaying. Car sales consultants are professionals, and their job is to maximize the profit to the dealership.
What should you not tell a car salesperson?
Don’t tell the dealership anything that shows that you urgently need to buy a new car. If they know that you don’t have the luxury of time to make dealerships negotiate or to drive around town looking for the best deal, you’re like fresh meat in front of a lion.
Do you have to take your car in for service at the dealer?
If you’ve ever felt you got a raw deal taking your car in for service at the dealer, our anonymous service manager says that may well be true. But he also cites a number of reasons to take your car to the dealer for work anyway—and tells how not to get the short end of the stick when you do.