Jul 28 2008
Car dealer tricks: The transaction trick
Many people view buying a car as one transaction. It’s not, and car dealers know this. “There’s really three transactions rolled into one — the new car price, the trade-in value, and the financing,The car dealer sees all three as ways to make money.”
Treat each of these as separate transactions, and negotiate each one. If you get a new car for $200 over invoice, but only receive $1,000 for a trade-in car that’s worth $2,500, you haven’t done as well as you could.
“You need to manage all parts of the process by doing research ahead of time, It’s very important that buyers not think of the dealer’s finance department as their loan agent. The car dealer is not required to find you the best rate, and might add to the number by serving as the middleman.”
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