|Buying a used car can be a wise financial investment, especially when considering the steep depreciation taken by new cars the second they pull off the lot and become used cars themselves. One of the most important factors of buying a used car is choosing the right dealer. Here are the top 5 tricks used car dealers pull when trying to sell you a vehicle.
Used car dealers may make false or misleading claims about a vehicle's present condition, value and history. For example, a dealer may claim a vehicle has never been in an accident when it has, or that a vehicle was well taken care of while knowing the previous owner traded it in rough condition. A thorough inspection and used-vehicle history report is the best way to combat this trick.
A used car dealer may "lose" the keys to your trade-in vehicle after appraising it, forcing you to stick around at the dealership longer than you want to, in hopes of convincing you to make a deal. If this happens, politely ask to speak to the manager, and if necessary, threaten to contact the proper authorities if your keys are not returned immediately.
Good Cop, Bad Cop
Used car salesmen may play the "Good Cop, Bad Cop" card, giving you the impression they're working hard to get you the best deal in spite of their manager, when in fact the salesperson is working with the manager to squeeze as much money out of you as possible.
The finance manager at a used car dealership may claim banks have assessed your credit history negatively in hopes of adding interest rate points to your auto loan.
Used car dealers may have you sign preliminary paperwork and take conditional delivery of the vehicle without having secured financing. When this happens, you may be required to return the vehicle, come up with more up-front money, or sign off at a higher interest rate. This is also known as a spot delivery.
When shopping for a used car with Lehigh Valley car dealers, make sure you're dealing with a reputable and honest used car dealer, or else you may find yourself a victim of one of these common used car dealer tricks.