In our previous blogs we have already presented some tricky questions that may lead to dealer fraud. Below are three more questions and the most preferable ways of answering them in order to avoid becoming a dealer fraud victim.
1. “What were you hoping to get for your trade?”
This may be an honest question, but why tell the price first? If you say you want $10,000 and the car is really worth $12,000, you’ll give the dealer a $2,000 present. It’s essential to have a realistic idea of what your trade-in is worth and let the dealer throw out the first number. Don’t get confused in case he/she offers a ridiculously low price; this may be a dealer tactic to make you think the car is worth less than it is.
So you’re better give an answer like: “Let’s see what you come up with. Make me an offer.”
2. “Can you hold on a few minutes while I check the computer/talk to my manager/make a few calls/do whatever?”
Some dealers will try to prolong the negotiating process as long as possible in the hopes of wearing you down or confusing you with even more numbers. Set a fair time limit for negotiations and when half an hour is left, tell the dealer you need to leave and will be back tomorrow. This will likely speed things up greatly. Just ask the sales rep what his hours are tomorrow, and then go home, get a good night’s sleep, and return to the dealership well rested and well fed. You’ll be in a much better mental state to negotiate.
Give an answer like: “I have to leave in X minutes. I’ll come back tomorrow and we can conclude the deal in case we can’t finish up by then.”
3. “What can I do to get you to buy this car today?”
The answer that the sales rep hopes to hear is: “Get the monthly payment under $X,” “Get the down payment under $Y,” or “Give me $Z for my trade”. Then they will focus on it and close the deal: “See, I got the payment under $X, let’s sign the papers.”
Try to give an answer like: “Give me a fair price and a fair offer for my trade, and I’ll buy this car today.”
