Used Car Buying
Common myths about used-car shopping
Buying a used car is a great way to purchase a vehicle at a reduced price. There are many reputable used-car dealers operating, and consumers should be aware of some practices that can help them get the best possible deal. Here are some car shopping tips on common myths and misconceptions about buying a pre-owned vehicle.
The Cooling-Off Rule
The Federal Trade Commission created Cooling-Off Rule to protect consumers from charismatic door-to-door salesmen by allowing a three day window to return purchases. According to Autotropolis.com, many used-car dealers cite this legislation as a customer guarantee. However, shoppers should know that the Cooling-Off Rule does not apply to automobiles and they should seek alternate return policies from dealerships.
End of the month
Many people are under the impression that the best time to buy a car is at the end of the month when dealers are more likely to cut deals to unload vehicles. However, Autoheroes.com states that times of bad weather during mid-winter represent a slow sales period for automobiles, which works in the shopper's favor.
While doing your homework about a vehicle's true value and pricing can come in handy during negotiations, this doesn't guarantee you'll receive the vehicle's invoice price, according to Autoheroes.com. Dealership prices are set by the laws of supply and demand, which means that if other people are willing to pay full price, then you may have to as well.