As a Chevrolet dealership, we’ve heard them all - from only buying on rainy days to wait until the dealership’s closing hour to make a purchase. Not only will these misleading car buying tips lead to a longer process, but they could make you miss an opportunity for a good deal. Today, we’re debunking five of the most common car sale myths below.
Myth #1: Always look for the lowest monthly payment
Of course, it makes sense to stay within what you can actually afford each month. However, the lowest monthly payment may not always be the ideal scenario because of interest rates. Be sure you are aware of how much more you’re paying for 72 months versus 60 months, for example. While the 72-month rate may be lower, it could cost you more in the long run.
Myth #2: Buying a used vehicle is the smartest option
While it’s true that buying used can save you the most money upfront, it’s not always the better option. If you’re buying used, be sure that the vehicle is in good condition and has a good maintenance history. One of the risks of buying used is that you could spend more down the road on fixing issues and replacing broken down parts. An ideal scenario is if you can find the vehicle you want in a used inventory lot for much less than the price of the brand new model. Sometimes when owners buy a brand new car and change their minds soon after, they will trade the barely-used vehicle into a dealership.
Myth #3: Buying a new vehicle is the smartest option
On the contrary, buying a new vehicle is not always the wisest decision. If you’re deciding between buying new or used, ultimately the ‘better option depends on your situation and the car you’re interested in. One reason people choose to buy a new car is that most dealerships offer more financing options and incentives for new vehicles. Another reason is that a new car may cost less to maintain, but again, this depends on the car. Modern vehicles are equipped with better engines and improved systems, so you can expect a used vehicle to perform well for years to come.
Myth #4: It’s best to buy from a dealership - private sellers are shady
There are certain industry regulations and legal processes that the automotive industry follows. When you choose to work with a dealership, you can be confident that the deal is honest. However, this myth encourages the narrative that all private sellers are suspicious, which is not the case. If you do choose to go with a private seller, always ask for a maintenance history report and use your discretion to determine if the deal is fair.
Myth #5: It’s best to buy from a private seller - dealerships are dishonest
In the past, dealerships have gotten a bad reputation for being pushy and untrustworthy. This is understandable, as there have been sales reps who are more interested in the sales commission than serving their customers. While you can find pushy sales reps anywhere, you can also find excellent ones who want to help you find your dream car and strike a good deal.
This highlights the importance of finding a reputable Chevrolet dealership with excellent reviews and a reputation for customer service. As a consumer, you have tools at your disposal to help you find the right company to work with.
Final thoughts
When you’re ready to buy a car, there will be all kinds of advice from many different people. As you can see from the above common myths, there is not a one-size-fits-all approach. Whether you’re buying new or used, from a private seller or a Chevrolet dealership, the ideal scenario ultimately depends on your needs, budget, and personal preferences.