Payment Car Buyer Scam:

 The Payment Car Buyer Scam is the favorite customer of the dealer. The car dealer's sales person is trained to keep your focus on the payment. When you are focusing on the payment and the new car, you are NOT focusing on the Interest Rate or Selling Price. (an important part of the Payment Car Buyer Scam)

Payment Car Buyer Scams - The Focus

 When your sales person is working some numbers with you they will usually give you a very high payment to gauge your reaction. They will adjust according to your reaction. Once in a while a buyer will be presented with this payment and then they will say, OK. (cha-ching) This does not happen often, but it does happen. This exactly why it is done this way.

 Let's say the actual payment should be about $380.00 a month for 60 months.
The car buyer is actually presented with a payment of $475.00 a mo. The buyer that is more than I want to pay.
Salesperson:How close to this number can you come?
Buyer:I wanted to be under $ 400.00 a mo.
Salesperson: $400 a month? This is the car you wanted, right? You like the car, right? You wanted the power windows, CD player, sunroof, etc, etc........Right?
Buyer: Yes, but I don't want to spend $475.00.
Salesperson: You like the car, so how close can you come to $475.00 a mo.?
Buyer: I could probably go to $425.00 a mo.
Salesperson: That is little too far away. If I could do $465.00 a month would you buy the car NOW?
Buyer: No, the best I could do would be $435.00.
Salesperson: We are only $30.00 a month away. That is only $7.50 a week to get the car you REALLY want. $465.00 a mo. would work for you, right?
Buyer: That is still too much.
Salesperson: What if I we could split the difference and I got you $450.00 a month. That would certainly work for you, RIGHT? That is only about $3.00 or $4.00 a week and you would have the car you really want. 
Buyer: No, I have to stand my ground here. I will do $ 440.00 a mo. That's all.
Salesperson: OK, you win. If I get you $440.00 a month you will take it home NOW. Right?
Buyer: Right.
Salesperson: Let me go make sure I can do this number, I will be right back.
Salesperson: returns and say Congratulations You Win. Let's do your paperwork.

This Payment Car Buyer Scam can also have the Salesperson switch to a 72 month term, or 66 month term. They will then work back and forth between term and amount until you are Payment Car Buyer Scammed.

Payment Car Buyer Scam Recap

If you remember above, the actual car payment was $380.00 a month for 60 months. But now they have agreed to $ 440.00 a month and felt that they saved $ 35.00 a month from the original payment.
$440.00 less $380.00 = $60.00 a mo. $60.00 x 60 months = $3600.00
You have been taken for an extra $3600.00 a mo.
Now add on the  Interest Rate Scam and it will really cost you.

To protect yourself from this Payment Car Buyer Scam:

Know your Selling Price, Interest Rate and Term. Read the Financing Step by Step Section.
Get an Auto Loan Quote Now! from another source that will provide you with the information you need to negotiate price NOT PAYMENT. When you Negotiate Your Car Payment You Lose with the Payment Car Buyer Scam.

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