Buying a car at a dealership can be a bewildering and exhausting experience, leaving you wondering whether you made a good deal once you’ve signed on the dotted line. However, if you take the time to prepare yourself to answer some of the most commonly asked questions, you can avoid giving away too much information and get a deal you’re satisfied with.
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To get seasoned advice from someone who is an advocate for car buyers, GOBankingRates interviewed Mike Rumple, CEO of Your Car Buying Advocate. Rumple, a former car salesman, founded YCBA to help make consumer car-buying experiences stress-free and transparent.
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What Payment Are You Expecting?
Another variation of this question is “Where would you like to be on your payment?” The correct answer, according to Rumple, is, “I’m not concerned with a payment right now.”
“You answer this way because a payment goal really is irrelevant to the salesman,” Rumple explained. “The only reason a salesperson would ask this question is because they think they could structure a car deal in a way that meets your payment goal. Then, if you see that your $400 payment goal is there on the buyer’s order, you assume you are getting the deal you were asking for. This is simply one way of manipulating the numbers.”
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What Is Your Car Payment Now?
Rumple said that this question is also irrelevant. He said all you need to do is ask them why the information matters, and they’ll get the point.
Can We Pull Your Credit Report To See What You’ll Qualify For?
Rumple said that you should reply, “Assume I have excellent credit (if you know you have great credit).”
He also recommended adding that you will use their financing if it benefits you, but state that you already have a preapproved offer for financing. He also said to make it clear that you will not be having your credit run until you know the entire deal and have a buyer’s order in writing.
“You should have a local credit union give you a rate so you are armed with that information ahead of time,” Rumple said. “Sometimes a dealer will match it, but talking about financing and payment should happen after you know the entire deal and have seen the buyer’s order.”