Why are some car dealers referred to as sharks?
Because though they seem friendly and non-threatening on the surface, some are just waiting for you to let your guard down in order to spring a trap on you.
Here’s one of the most common ways not-so-trustworthy car dealers will try to get you into a car, even if you’re not ready:
The “Focus on the Payment” Tactic
If one of the first sentences out of the dealer’s mouth is “How much of a monthly payment are you looking for?”, then you know this is the tactic they’re going for. They will try to convince you that they’re getting you a great deal by grudgingly agreeing to give you a low monthly payment.
However, a lower payment doesn’t mean you’ll be paying less in the long run. In fact, it’s quite the opposite.
The truth is that most dealers are able to extend the term of your auto loan out pretty far in order to get you the payment you desire, but in the end you’ll still be overpaying for the vehicle.
You don’t want to look back at your contract and think, Hey, I didn’t agree to pay this much for the car!
So don’t have tunnel vision where your payment is concerned. Be sure to take the time and crunch all the numbers.
Continue reading for other common car salesmen tricks to watch out for.