Here is why we suck at getting the best deal at car dealers.
1) In our lives, we don’t have a chance to practice car buying, while the car dealers practice selling cars everyday.
2) We don’t know the cost price of new cars, car insurance, car extended warranties, car loans and car extras. With this apathy we don’t know a car bargain even if it stares us in the face.
3) We buy on “relationships with the car dealers”. And car dealers who can say and act the way that makes us “trust them” wins the sale. We must buy on facts. Every car dealer has his business in mind instead of making “saving you on your new car” as a priority.
4) We don’t shop around between multiple car dealers.
5) We are impatient when it comes to buying cars. We sometimes need to buy right now, instead of the best time to buy: Month ends, when there is a sale.
6) We are not flexible in considering other car makes and models in the same automobile type group.
7) We are scared to “ask” the dealer for a bigger discount if that “angers” the dealer. Many people think they are inconveniencing the dealer if they are persistent and the car dealer starts acting dis-interested in doing the deal. Remember it usually is a show.
8 ) We don’t do our homework, ie do online car shopping, car research, talking to friends who know about cars etc. Most people don’t know that a car dealer makes $1000-$3000 even if they sell the car at invoice.
9) We have too much confidence in ourselves, because we think buying cars is just like buying a shirt.
10) Many people are afraid to walk away from a bad deal ignoring their gut instinct.
What do you think? is there #11 on why we suck at getting a great car deal?