Buying a brand new car is an experience that everyone needs to have once in their lifetime! It is nerve-wrecking and stressful as hell but also it is one adventure that you will love. Buying a new car is a big decision and maybe that’s why there are so many misconceptions about it. Just mention to some friends that you’re buying a new car and there is a long queue of ‘advisers’ who will tell you a hundred and thousand ‘truths’ about buying a new car! Well, to protect you from them, here are five myths that most people ‘abide’ to when they know someone is buying a new car!
Rainy days and Holiday Sales – One of the most common myths around the auto sales industry is that on rainy days and holidays, it is the perfect time to go to a car dealership. It is believed that the prices will go down. Well, if only it was true because these days are the busiest days! Rainy days and holidays are the days where the salesmen are busy and they seem to get hold of the buyer who gets the worse deal. The sales ratio increases on these days as compared to other days.
New Vehicles Depreciate Instantly – It is one of the first things that you hear when you buy a new car. Well, it is bound to happen as new cars depreciate from their daily utility. There are people who exaggerate that the car value depreciates from 50% to 70%. That’s why it’s important to establish for how long you want the vehicle as well as its total cost of ownership. Let’s say you want to own a vehicle for at least 10 years, then the depreciation rate does not matter.
Internet is the place to get a good car deal – With the advent of technology and the digital age, there are many online shops that sell used and new cars at comparatively low prices. There are more and more people who rely on these websites and later on get duped. Most people do not want to be bombarded by salesmen, that’s why they choose an online car dealership.
Cash is king – Some dealerships are more interested in financing cars than selling them at a retail price. Most people believe that paying in cash is more favorable to sealing a deal at a reasonable price. Well, it is not true! Even if you pay in cash, you will get the deal that the dealer has been offering to someone else who has been financing the deal. Well, it is known that the dealer will be most inclined towards the financing client as they earn incentives.
The best time is the end of the month – Well, there are some dealerships that have exceptional deals at the end of the month. Salesmen receive bonuses for meeting quotas and these are paid at the end of the month or year. It is sometimes that the car dealership is compromised to what you want.