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Car Buying - Avoiding Costs
Avoiding Extra
Car Buying Costs
So many people get ripped off after they have already closed
the deal. They get you on the extras and the warranties at that
point.
The extras are things like rust proofing, scotch guarding etc.
It seems pretty straight forward but you would be surprised
at how many people get taken on these.
The trickiest closing cost scam is the extended warranty because
the language used is so confusing. This is not the warranty
that the factory gives you for the car.
It is a warranty that covers the cost of fixing the car should
it break down on you. To get around this, you have to know the
dealer’s language.
Extended warranties often do cover any repairs that you require
during your coverage period, but there is often some information
that you are not told about.
For example, the extended warranty is usually effective only
up to a certain amount of mileage or term period; whichever
happens first.
They might also only cover certain types of problems. If your
extended warranty doesn’t cover every part of your car,
why bother?
Some extended warranties don’t cover the larger problems,
but just the smaller ones. If your engine conks out, you may
be left in the lurch.
You shouldn’t even consider buying an extended warranty
if you are only leasing the car for a small time period like
36 months. Perhaps it is better only for longer periods of leasing
like 60 months.
Many extended warranties don’t cover everyday wear and
tear policies, only breakdown problems. If you do insist on
getting an extended warranty, get one that covers both instances.
You will only really want to get a warranty on a more dependable
car like a Lexus, Honda, or Toyota because extended warranties
rarely cover the costs incurred in cars that are present at
the time of purchase.
You will also want to get a warranty that is effective immediately.
You will also want to get a warranty with a well established
finance company and not one that go belly up in a year.
Don’t purchase an extended warranty directly from the
dealer. Instead look at sites on http://www.LendingTree.com
for an online warranty because being online gives you all the
time to asses your warranty properly.
Watch out for deductibles because you don’t want to get
stuck paying for deductibles that you thought were covered by
the warranty.
Now let’s look at some of the extras that dealers get
you on at closing. This can be very irritating how they try
to weasel even more money out of you in the end on stuff that
you really don’t need at all.
Of course, when you hear it, they will all sound dire. It’s
bad enough that they will throw them up at you but look at this
table to show how much they are really ripping you off by.
Most Common Extras at Closing
|
Description
|
Your price
|
Dealers costs
|
|
Rust
proofing
|
$800
|
$40
|
|
Extended
warranty
|
$1200
|
$300
|
|
Scotch
guard
|
$300
|
$5
|
|
Car
alarm
|
$400
|
$100
|
|
Paint
sealant
|
$300
|
$10
|
|
Credit/insurance
costs
|
$200
|
$30
|
|
Detailing
and pin striping
|
$299
|
$30
|
|
Total
of extras
|
$3499
|
$515
|
|
Extra
monthly payment total
|
$97
|
$0
|
As you can see, these extras will get you in the end. If you
can, you should avoid them all together. They are worth far
more to the dealer than they are to you.
By now, you should know all of the things that you need to
know in order to buy your new car with the least amount of burden,
and you have learned to avoid the common scams pulled by dealerships.
This is the only guide that you will ever need when you get
ready to buy a car.
You’ve learned:
The various tricks
Advertising tricks and misleading marketing
- How to get the best price
- How to negotiate your opening offer
- How to negotiate
- How to calculate your opening offer
- What the difference is between the factory invoice and MSRP
sticker
If you have read this all the way through, then you need not
worry. All of the advice listed here will save you a great deal
of time and money.
You are now fully prepared to get your new car.
So what are you waiting for? Go shopping!
Are you interested in finding used cars at government auctions?
Be sure to check this
resource out.
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