5 Widespread Car Buying Myths Debunked

Aug 24, 2015

Approaching the car business can be an extremely complicated process. It’s simply hard to gather all the information about prices, models, insurance, etc. Finally, making the investment is puzzling. Choosing the right car has more to do with an intuition than anything else. It’s like when you walk into a house and you can tell if it’s the right house for you by the way it makes you feel. But how exactly do you pick the right car? First of all, debunk the most common car-buying myths. Let’s start with these 5 myths that most car drivers consider.

Everything is a scam!

We tend to think that every discount, extended offer, or additional advantage that a dealership tries to propose is a scam. Although salesmen love hurrying you into a deal today by offering various incentives like on-the-spot delivery, exclusive one time offers etc., they’re not always a scam.

Financing through the dealer is always more expensive

In fact the truth is that financing through a dealership can be more affordable than an outside source. You may find that the interest rate is actually lower for customers dealing with a car dealership. This is because dealers usually offer lower rates for promotion purposes. Dealer financing is also bank financing. The only difference is that it is the dealer going to the bank on your behalf.

Buying a car at the end of the month is a better option

If you ask your friends or relatives, they will probably tell you that buying a car at the end of the month will usually get you a better result as dealers are trying to reach their goals at this time. Myth or reality? Let’s see!

Honestly, buying a car at the end of the month doesn’t make a difference. Salesmen are more motivated to sell cars at the end of the month and make the deals look like exclusively designed deals. However, there is no factual evidence of a car being cheaper at that time.

Paying cash will get you a better deal

Buyers think that paying cash will get them a better deal. This is only true when you’re offered cash only incentives. A dealership can make more money when you lease or finance, and less likely to further discount the price on a cash deal.

Special ordering is more expensive

Special order is when a client orders a car with personalization like color, and other options that they want. Special ordering can actually save you a considerable amount of money on many vehicles, especially European vehicles that can be configured in many different ways. (Source: https://www.cartelligent.com)

Car buying myths can be harmless but can still cost you a lot of time and money. We hope that we debunked your car buying myths today!