Although Jamie and Adam no longer bust myths on the regular, that doesn’t mean there aren’t still myths that float around untethered to facts. In their place, our Chevy dealers have taken on the task of busting these five common car buying myths, so that you can enter your next vehicle purchase with know-how and dignity.
Savings Come at the End of the Month
The reasoning behind this myth is as follows:
- The dealership may be behind on monthly sales targets for a particular model. To incentivize buyers to purchase that model, they’ll be more likely to haggle prices down to meet that quota, thus enabling buyers to get a better deal.
No. False. Fake. A farce.
Most dealerships don’t outright operate this way, as it would lead to inflated sales numbers and poor margins—trust us. While it’s true that monthly car specials may expire when the month ends (obviously), it’s not true that the best deals are only available at the end of the month. Instead of fishing for lower prices when the final day of the month draws near, take advantage of the excellent specials already advertised online. Or ask your dealer about the upcoming monthly specials, and how you can take advantage of them a day or two early (it happens).
Low Monthly Payments Means a Better Deal
For cash-strapped shoppers, low monthly car payments are akin to striking gold. But just because your car loan payments look incredibly manageable doesn’t necessarily mean they are. A monthly payment of $300 is certainly higher than $250, but when you take into consideration accrued interest, you may be paying more over the total life of the loan. Make sure you calculate the total cost of the loan, with added interest, to see if you’re really getting a money-saving deal.
The Best Car Deals Are Online
You may find lower prices online, but internet prices are not always what they appear. In fact, some cars found on group sites are priced to entice shoppers to buy on the spot rather than driving into the dealership to test drive. Don’t do that. Perform your due diligence and research on your preferred make and model, then visit the dealership and discuss that “special online-only” price you found. Word on the street is that you can get that same pricing in-store simply by flashing a smile and negotiating a bit.
Cash Makes More Sense
In the movies, people pay for cars with cash all the time. Therefore, it must be true that paying in cash means you’ll get a better deal. It’s quite the opposite, however. Although cash payments limit the dealer’s risk, it also limits the potential profits that come from an auto finance or lease contract. Typically, dealerships actually make more money with auto loans and leases.
But that doesn’t mean financing a vehicle isn’t in your best interest! It’s a two-way street when it comes to leasing or financing, as both the dealership and buyer can leave the deal satisfied.
Parachuting a Trade-In
To “parachute a trade-in,” you hold out on the fact that you have a trade-in until after you’ve gotten the concrete price on a new vehicle. At McCarthy Chevy Buick GMC, we see this regularly and understand where our shoppers are coming from. However, we must make an effort to bust this myth, for the sake of our customers.
Parachuting a trade complicates the car-buying process for all parties involved, and rarely results in a better deal than would otherwise be possible if that information was presented at the onset. It also increases the amount of time buyers have to wait in the dealership—time that they could have used to enjoy their new car.
Fact: McCarthy is the Dealership to Trust in Marshall, MO
There’s no myth to this one: McCarthy Chevrolet Buick GMC is one of the most respected used and new Chevy dealers serving Marshall, Warrensburg, and Moberly, MO. Whether you’re looking for a brand-new or pre-owned vehicle, you’ll find excellent prices and an amazing selection right here on our dealership floor. Take a look at our current specials, and feel free to contact our dealers at (660) 530-4624 to schedule a test drive in any of our new Buick, GMC, or Chevrolet models for sale.
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