Vehicle Buying Tips and Hints

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Vehicle Buying Tips and Hints by Satnam Singh Sidhu BC

Buyers and Salespersons Relation:

1. Some car buyers are smarter than car salespersons and make it frustrative for salespersons
2. Some car buyers are at par with car salespersons and make it frustrative for new salespersons
3. Some car buyers pick sales person's brain to get knowledge and frustrates average salespersons
4. Some car buyers mistakenly trusts salespersons and it is like silver spoon in salespersons mouth
5. Some car buyers are very defensive and salespersons need to dance on their tunes to build trust
6. Some car buyers take a gazillion years to decide and remain salesperson's nightmare until they buy
7. Some car buyers bring troops of advisers with them and salespersons bounces like ping pong ball

Your possibilities at Car Dealerships:

         Salesperson            Sales Manager         Finance Manager         Service Advisor      

1. Good                        Good                         Good                             Good                   
2. Yo-Yo                         Yo-Yo                       Yo-Yo                           Yo-Yo              
3. Sucker                      Sucker                       Sucker                           Sucker              

1. Good:              Who help buyer to buy best value product according to buyer's needs   
2. Yo-Yo:            Who know little about cars and sell wrong product to buyer unknowingly
3. Sucker:            Who sucks every single penny from customer's pocket for bigger pay cheque

Tip for buyers: 

1. Compare at least 2 or 3 products or services before buying possibly at different dealerships
2. Ask Salesperson about his/her experience and testimonies if possible
3. Make a list of important questions before shopping 
4. Keep in mind majority salespeople may not lie to you, but they may not tell you important facts about vehicle if you don't ask

Make sure salesperson is at same page as you for following:

1. understands your needs
2. understands your minimum features requirement
3. understands your budget
4. presents vehicle suitable to your budget, needs, features and quality
5. discloses everything about vehicle

  Once you like a product that suits to your needs and budget, now make sure:

1. price is right...compare by shopping around
2. talk to same salesperson if revisiting, preferably call ahead of time
3. before proceeding to price negotiation, make sure you check their promotional price on internet or newspapers that may be lower than sticker price
4. make sure listing price includes documentation fee, freight and delivery fee and any other fees or charges
5. interest rate for financing and leasing and different terms
6. for best rates your credit score must be above 650
7. be careful if you like a particular model then you must make a written notes that specify different feature options and prices
8. Now proceed to Sales Manager for price negotiations and initial only on negotiated price with clear knowledge of what's included in price.

Important Initials and Signatures:

If price is right, proceed to finance manager and MAKE SURE YOU DON'T SIGN OR INITIAL anywhere until you read and understand and ask if it is not clear ask for help. Important initials are:

1. Declaration of vehicle history of accidents and where it came from (which province or country)
2. If it has any major accident or rebuilt status refrain from buying that vehicle.
3. Don't sign blindly because salesperson told you verbally.
4. At this point once you initial or sign without reading and understanding, it would be too late
5. Later, if you find out that vehicle had major accident or rust because it came from heavy snow or moisture area or flood affected area, after signing documents then it becomes headache for you to renegotiate or return the vehicle without litigation or arbitration 

 Make sure you know the terms and conditions of loan or lease before signing documents: 

1.  Term of loan or lease
2.  interest rate
3.  monthly payment or bi-weekly payment
4.  any additional finance charges or registration fees
5.  if interest is fix or variable
6. any penalty for early loan paid-off

Lease terms and conditions are normally tricky and need additional care to understand it:

1. Most important is cost of buyout at the end of term 
2. Any additional or hidden charges for yearly mileage cap, vehicle wear and tear and damages
3. Leased vehicle means that it is similar to a rental vehicle but for longer period under contract that includes full responsibility of you to maintain and look after the vehicle and return at the end of the contract or buy out as negotiated in the contract.

Generally Lease have following advantages:

1. Lower monthly payment than financed payment
2. Business expense write off may be more flexible 
3. If you like to change vehicle after lease expiry
4. If financing trouble

Please note: These are few hints and that gives you some tools to negotiate carefully. This article does not bear any responsibility for any claims arising out of this advice. Please never sign a document without full knowledge of its terms and conditions. If in doubt please take expert advice or legal advice before signing any document or contract.

In nutshell, more you know about vehicle buying process and exercise care and caution during negotiations and signing any document, more beneficial to you and frustrating for most salesperson who are not fully professional and empathetic to buyer's needs and budget.