Common Car Buying Myths That Won't Go Away | Penney Auto Body & Glass Vancouver

Common Car Buying Myths That Won't Go Away | Penney Auto Body & Glass Vancouver

Despite a wealth of useful information on the internet, there are still a ton of misconceptions about buying from a dealership. Here are some of the most common ones that will hopefully save you time the next time you go shopping.

Cash Is Everything

The ability to flash your cash gives you no leverage on the price whatsoever. In this current competitive market, dealers aren't making much on the cars themselves. If you are a good negotiator the dealer may even take what they claim is a "loss" on the car, but in order for those deals to work, they need to make some money somewhere else.

Often this comes from financing. Even if you get a low-interest loan the dealer still gets a little money on the deal by selling you that loan. Shop these loans around and get pre-approved before you arrive.

If a dealer knows you are a cash buyer, they know they will lose their opportunity to make a profit and may be less likely to wheel and deal on the car itself.

Avoid Sales Tax By Purchasing Out Of Province

To be honest, no matter where you buy your car the sales tax is assessed based on the area of registration not the location of the purchase. That isn't to say that people in high tax areas shouldn't shop outside their region to get savings, and it is likely that they may find better discounts elsewhere, but they aren't going to save on the sales tax.

Get The Best Price If You Go When The Dealer Is Closing On The Last Day Of the Month

This strategy comes says that dealers are more likely to offer you a bigger discount at the end of the month because they are trying to hit a sales quota. 

What a lot of people don't realize is that some dealerships have the ability to discount deeper than others, even though they are all purchasing that unit from the automaker for the same price. Higher volume stores that meet or exceed quotas can often offer deeper discounts, while lower volume stores aren't afforded that luxury and need to make their profits on the units themselves.

If a buyer goes into the wrong dealer at the last hour on the last day of the month, and the sales manager tells them a price, they are probably not lying. But what that buyer doesn't know is that the dealership down the street can do better because they sell more cars. Keep in mind, that high volume dealer may have already met their quota for the month and may not be as willing to take a loss on a sale.

The only way to know for sure is to do your research online or ask around.

Penney Auto Body & Glass, Vancouver’s Auto Body Collision Repair Shop, is an expert in paint and body repair and cares about the welfare of your car and your personal safety. If you get involved in an automotive accident or you're a victim of a vehicle break-in or theft be sure to contact Penney Auto Body for your auto body, collision repair, and car painting services.


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