10 Ways I Can Screw You When You Buy A Car - Car
Buying Scams
This is only ten
ways of the many that I can scam you with believable and
easy to use car buying scams,
there are many more that I can use to get your money.
These are the 10 major ones that are my favorite car
buyer scams.
- PAYMENT: When we sit
down and work out numbers I sell you on a payment rather
than the price. If I can get you to go up $20.00 a month
over the actual payment the dealer can make approximately
an extra $1,000.00 on your car. Most car buyers have not
figured out what their real payment should be, so it is not
very hard to get you to bump an extra $20.00 a month right
after you have just driven that new or used car and
visualized it in your driveway. (Car Buying
Scam)
- INTEREST
RATE: When we are working out
the final numbers and you are locked in on the price I will
then turn to the Interest Rate. I will raise your interest
rate anywhere from a 1/2% point to several points. When you
ask I will tell you that you have good credit and not Great
Credit and that is the rate you qualify for with your
credit score. The Dealer will profit the amount of the
difference of your actual interest rate and the rate that
you sign for on the contract. (Car Buying
Scam)
- TERM: During car
buying negotiations we will go your payment and interest
rate. If we get to a point where I can't get you any higher
on the payment and I don't have anywhere to go on the
interest rate because you know what your credit score
qualifies for. I will then change the term on your loan.
the normal term is 60 months, I will get you to go 66 or 72
months. (Car Buying Scam)
- TRADE-IN: When you
have a trade-in car and you are unfamiliar with the true
value it is not hard for me to get you to accept $500,
$1000, or even $2000.00 less than the actual value of the
used car. If you are familiar with the actual trade value I
will drive your car and find something that I can talk
about such as scratches, paint, tires, or maybe a
fictitious noise that I can say is the front end or the
transmission that needs some type of work. That will get
you to accept $500.00 or $1000.00 less than actual value.
(Car Buying Scam)
- EXTENDED WARRANTY: I
am going to sell you an extended warranty for your new or
used car. I will tell you that the lender wants the car to
be under warranty for the life of the loan to protect their
interest in the vehicle. If you don't bite on that story I
will tell you some horror stories about outrageous repair
bill for newer models cars. I will tell you about how the
newer car have many electronics and computer systems just
to operate the vehicle. I will continue to give you a
couple scenarios that would make you feel happy to purchase
the warranty for an extra $ 30.00 or so a month. (Car
Buying Scam)
- WINDOW
ETCHING: Window etching is a process
of acid etching on all of the glass and windows on a new or
used car. The reason is that it is supposed to deter
criminals from stealing your car before they see that the
car has glass etching. Although this glass etching has very
little impact or none at all in the way of thefts. I will
tell you that the lender requires the glass etching to
protect the vehicle. (Car Buying Scam)
- CREDIT LIFE: This
one is just life insurance on your auto loan. Should you
die before the car is paid off the insurance will pay off
the outstanding car loan. I will give you the standard line
about the lender wanting the insurance. (Car Buying
Scam)
- ACCESSORIES: I will
talk about and sell you some accessories for your new car.
It might be a Trailer Hitch, Roof Rack, Remote Start,
Security-Alarm System or a whole host of accessories. I
have a whole library of stories and benefits for the
particular accessory that may be the most appropriate for
you. When you tell me no because you are going to buy that
from some after market place, I will talk to you about
voiding the car manufacturers warranty in certain
situations and certain type of accessories. (Car Buying
Scam)
- DEALER PREP: I will
say Everybody Pays Dealer Prep on a new car. I will charge
an extra $300.00 to $500.00 for Dealer Prep, when the
factory actually pays the dealer to prep the car for
delivery. Sometimes I can get you to pay Dealer Prep on a
Used Car. You want you car prepared so you can drive it
trouble-free, right? (Car Buying Scam)
- RUSTPROOF, PAINT & FABRIC
PROTECTION: You want your car to stay
looking new inside and out don't you??? You know what acid
rain can do to a paint finish. I am sure you have seen
those cars that look sun faded and bleached out, you
wouldn't want your car too look like that would you??? I
know you don't want this beautiful new car to start showing
any signs of rust down the road. beside the additional
value that Rustproofing, Fabric and Paint Protection would
give to your car at Trade-in time will more than for the
investment. (Car Buying Scam)
Car Buying Scams - There are
More
As I mentioned earlier there are many more car buyer scams
that are used to help you lighten your wallet or purse. However
these are the most common and responsible for most of the
additional profit that a car dealer can make. Browse through
our website and comeback often as we add more ways to scam the
car buyer.
Disclaimer:
The above car buying scams are
not necessarily the practices of all
dealers.
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