Watch Out for Trade-In Car Scams

Watch Out for Trade-In Car Scams

As a matter of fact, a lot of car shoppers choose to trade in their old car to purchase a new one. Although this option seems to be very attractive, it is full of dangers as well. There are several trade-in car scams that unethical dealers use to increase their profits at the expense of unsuspecting buyers.  That’s why; a well-informed consumer should be familiar with the most common trade-in car scams. Actually, knowledge of these deceitful practices can help you protect yourself and your loved ones against these scams. Are you planning to trade in your current vehicle? In this case, you should read this article carefully to get the best deal.

Negotiations concerning the trade in price

Prior to approaching the negotiation table, you should be armed with appropriate negotiating skills. To begin with, you need to negotiate with the dealer the trade in price separately. This means that it is more effective if you avoid linking two transactions. Watch out, as some dealers may try to link these two prices. Usually, what they attempt to do is making concessions on the trade in price. Thus, they do this by making fewer concessions on the new vehicle. It is worth to mention that the opposite variant is also possible. You should keep in mind that negotiations are an essential part of the car buying process.

Purchasing price up front

It is essential for any car shopper to find information concerning their vehicle’s market value. You can use different sources to have an access to this information, like Kelley Blue Book. Thus, certain consumers prefer to start negotiations from the purchase price. It is a good idea to insist on a price that you decided based on your research. Generally speaking, some dealers offer to pay the wholesale price. Sellers may mention that they aren’t going to take the car into their own inventory. If you aren’t satisfied with the price that the dealer offers, don’t hesitate to walk away. You can always find a better deal. Remember that patience can serve as the key to success in this situation. So, don’t rush. Visit several dealerships and compare deals that different dealerships may offer. Finally, choose the one that is the best variant for you.

The seller fails to look over the car

Dishonest dealers are also in the habit of using other misleading trade in car scams to trap car buyers. You should practice caution when dealing with dealers who offer you a price quote and don’t look over your trade-in vehicle. Later they may point out that the price is appropriate only in case your vehicle passes the inspection. Thus, it may turn out that you need more money because the trade-in vehicle has a problem. If you appear in such a situation, make sure that the dealer mentions the vehicle’s issues in written form. Also, tell the dealership that they should agree to pay the original price if you repair the vehicle’s issue. Well, this is a wise decision, because the dealer won’t take the risk of putting untrue information in writing.

The dealer provides false information

Among other deceitful trade-in car scams are ‘’mistakes’’ concerning the trade in vehicle’s model or some other features. At this point, it is essential to be vigilant and always stick to the car purchasing plan that you made beforehand.

In conclusion, the familiarity with the above-mentioned trade in car scams can help you protect yourself and your loved ones from unscrupulous dealers. If you want to trade in your old vehicle, you should practice caution and leave the dealership, when the negotiations don’t go to your desired direction.