7 Myths About Buying a New Car
Cars today are a status symbol for many of us. Almost everyone around the globe buys them to show off the status and is a wealth symbol. But did you know that buying a car comes associated with several myths? Yes, for many users, it is the myths that gets challenging and, in the way, to make the best choice. Thus, to give you the best experience, we have decoded some myths about buying a car.
7 Myths about Buying a New Car:
1. Cash Payment Saves Money:
This is one of the prominent myths in question today. The myth of buying a car in cash to save money is not practical enough. This is because a loan lowers the overall price for financing and thus can help you save money. So, if you think buying a car in cash will help you; think again!
2. Lower Payment Results a Better Deal:
To help buy a car in the right way, it is recommended to look at the whole package instead of only one. Thus, avoid focusing on a single mode of payment as it can lead to an inflated interest rate. Also, keep in mind that the longer the payment term, you will end up paying more than the car itself.
3. Lower Monthly Payment Deals:
This is again a huge myth that needs to be addressed right now. Before you think that lower monthly deals result in fewer payment cycles, let us brief you on the overall idea. Just calculate the total cost, the total cost of a lease term, to understand the offer's entire package. This will help you to prep beforehand for a whole payment process.
4. Buy Cars at The End of the Month:
The belief that buying cars at the end of the month incurs a good deal needs to be dispelled. It is not true that most of the dealers rely on the end of the month to score a killer deal. Instead, many focuses on deriving a whole range of profit and loss in the entire month so that they can get a good deal in the long run.
5. Avoid Quoting Over the Phone:
This is again a myth that is nothing but false. Many buyers fall for this, but it is better to refrain from it. It is because the whole idea of quoting the price over the phone is not fair as it leads to no accurate price cost from the salesman and sometimes even leads to ambiguous situations.
6. Internet is filled With the Best Car Deals:
Yes, you can use the internet to get the hang of the entire pricing structure but relying on it for car deals is out of the question. Try finding out from a brick and mortar location instead, which will end up satisfying you more than the web sources.
7. Looking Strapped of Cash Is Good for Negotiation:
This is like a massive flag in the first step of a relationship. It is because dealers can easily understand your overall standard through the way you carry yourself. Thus, in no case shall you try to fake it, as you can end up being caught.