Tactics car salespeople hope you don't know Advertiser Disclosure Advertiser Disclosure We are an independent, advertising-supported comparison service. Our mission is to help you make better financial choices by providing you with financial calculators and interactive tools, publishing original and objective content. We also allow users to conduct research and to compare information at no cost to help you make sound financial decisions. Bankrate has agreements with issuers including, but not restricted to, American Express, Bank of America, Capital One, Chase, Citi and Discover. How We Make money The products that appear on this site come from companies that pay us. This compensation can affect the way and when products are featured on the site, such as, for example, the order in which they be listed within the categories of listing, except where prohibited by law. This applies to our mortgage, home equity and other home lending products. But this compensation does not influence the information we publish, or the reviews that you read on this site. We don't include the full range of companies or financial offerings that could be open to you. Industrieblick/Adobe Stock
7 minutes read. Published January 17, 2023
Authored by Dana Dratch Written by Personal Finance Writer Dana Dratch is a personal lifestyle and financial writer who enjoys talking everything related to credit and money. With a degree in English and writing, she likes asking the kinds of questions people would want to ask and then sharing the answersas well as clever money management tips from experts. The article was edited by Rhys Subitch Edited by Auto loans editor Rhys has been editing and writing for Bankrate since late 2021. They are passionate about helping readers gain the confidence to manage their finances by providing clear, well-researched information that breaks down complicated topics into bite-sized pieces. The Bankrate promises
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We are compensated for the promotion of sponsored goods and, services, or by you clicking on certain hyperlinks on our site. Therefore, this compensation may influence the manner, place and in what order products appear within listing categories and categories, unless it is prohibited by law. This is the case for our mortgage home equity, mortgage and other home lending products. Other elements, such as our own proprietary website rules and whether the product is offered in your region or within your self-selected credit score range can also impact the manner in which products appear on this site. While we strive to provide a wide range offers, Bankrate does not include information about each credit or financial product or service. The process of buying vehicles or cars has a lot of moving parts. You must negotiate with car salespeople over price and bargain with lenders about an auto loan -- all while trying to strike a agreement for your trade-in. Mistakes will cost you and so it is essential to be prepared. "The salespeople are specially trained to protect you from your cash," says Jeff Bartlett, Consumer Reports' managing editor for cars. "This is a skill they practice daily, whereas the average car buyer buys one car every five or more years. This isn't a fair fight." Take note of these tricks and think about the following salesman tips to stand a better likelihood of getting what you want from your next car purchase. The top 7 salesperson strategies to keep an eye on There's a good chance you'll be confronted with aggressive sales pitches whenever you go to a dealership. Below are 7 of the most common techniques you may encounter. 1. Playing out the clock Some car salespeople utilize time as a tool, says Bartlett. They'll draw out the process until you're exhausted. The salesperson is going to be there all day regardless of what you do. So, if you plan to visit the dealership, don't hesitate to make a plan for an entire day to spend at the dealership -- and take something to entertain your time while waiting for the salesperson. However, you don't need to go through the entire process in a single day. It's fine to take your time making an option. When you return to the looking to purchase do not be held hostage. Speak up and say: "Give us your best price." Then, if the salesperson offers to go back and forth with their boss, ask them to send you the results. Your strategy: When you arrive at a dealer, immediately set the pace of the process by saying something like "I'm here for an evaluation drive. Tomorrow, I'll return and talk numbers." 2. Psychological profiling Car sales staff are provided with extensive training on how to identify the needs and vulnerabilities of prospective customers. Their ability to quickly assess customers ' needs allows them to use scripted questions, and then lead the way. "Car salespeople are specifically trained to convince customers," Bartlett says. "You'll be looking to identify not just your weaknesses." One query that you may be asked is "How do you want to spend every months?" Bartlett says that it's important to keep that information in your pocket. "If you declare this upfront, it may alter the course of action. It leaves you at risk." Make sure to insist on it after your test drive and have you completed signing paperwork. It's fine to have car salespeople help answer some questions, but keep in mind that they may use information against you, for example, desires for family, vanity or safety concerns, to upsell you on an expensive vehicle or . "Stay focused on your goal," Bartlett says, and repeat this mantra: "Let's focus on this. We'll come back to it later." Your strategy: Divide the process of buying into phases and concentrate on one thing at one time. Start with the car you are looking for, then move onto the other options and save them to be discussed in a separate conversation. 3. The pressure of the "imminent event' You know what you want and have . Then the salesperson says to you that, if don't buy the car today and you'll miss out on the huge sale, or that someone else will come to look at the car. It's a marketing tactic referred to as "the coming moment." "People become more interested in having something they know someone else is interested in or already owns. Salespeople for cars often make use of this," says Ronald Burdge, a lemon law attorney. "Suppose you're at the dealership to look around, and you decide to purchase an automobile and the salesperson delivers the bad information to you, telling you that there's already an investment in that car , or there's a potential buyer who stated they'll return later today in order to take it home," Burdge continues. "That's typically followed by an request to place a deposit price on the car or buy it right now before they come back. The impending event may be true, but more often than not the story is just an esoteric sales pitch to get you to spring for the purchase right then and there." "A car dealer who will do that to you will probably going to try a whole amount more each time they get," Burdge says. Be aware that you can find the exact car in other places, whether at a different dealership or even on the internet. You could also buy something else. Your strategy: Look at the salesperson's eyes and say "Are you telling me that if I go back tomorrow, you can't make me buy the car?" In other words, your best defense is to simply leave -- or at the very least be prepared to do so. 4. The "porcupine closing" this technique, the seller "sticks" potential buyers with an inquiry. It could be "If I were able to offer you this monthly installment, would that be what it takes for you to buy this car now?" Or "If I can purchase this in midnight blue, would you be willing to buy this now?" This strategy, also known as"the "if," signals that the seller is trying to find your trigger for buying, says LeeAnn Shattuck, creator of The Car Chick website and Car Chick TV. The strategy you choose to follow: Your answer to this question must always be not yes, Shattuck says. Instead, inform the salesperson that you're comparing several dealers to find the best overall deal. After you have compared your deals, you'll need to purchase. 5. The 'Ben Franklin close' This one is a classic. Here's how it works It's when the salesperson draws a line across the middle of the paper, listing reasons to buy the car on one side and reasons to not buy it on the other side. This is a very common sales gimmick in the auto business and other industries. "The notion is to show that in the end it's better off buying a new car," Burdge says. "Of course, it all depends on the information they write down and how truthful it is." It is important to be focused on the following aspects during this strategy that includes the monthly payment and your down payment and your length of time, the interest rate, and the total cost. "Know what the numbers you're required to be, based on your budget before you go into the dealership, and be sure you stick to the figures," Burdge says. Your strategy: The most effective way to defuse the tactic of a salesperson is to name it. Say, "That's the Ben Franklin close." If you do this, it could cause a awkward moment with the salesperson, but it will also prevent the tactic from going on for long. 6. The alternative choice close This tactic is one of the most sought-after, says Dan Seidman, managing director at Read Emotions and author of "The Ultimate Guide to Sales Training." You're given the option of choosing between two options, like whether you would prefer a model with red or blue. Good car salespeople never ever ask you to answer a question because they don't want to offer you the chance to say no. The secret: Both choices are readily available. "In the car business selling what's available on the lot," Seidman says. "A intelligent buyer might say, 'I want to look at everything you have.'" If a salesperson is trying to draw into a close, don't take the offer. "You're relaxed, you're leisurely, you're not ready to make a final decision," Seidman says. Your plan: Take a lesson from the political arena. Answer the question with a noncommittal answer -- like you're interested in various colorsand then switch to a different topic. 7. The trip into the rear office The finance manager is among the most experienced people working at the dealership, Bartlett says. They'll advise you to pile on a bundle of unnecessary items. Since you're spending a significant amount of money on the car, you may be urged to purchase security measures for interior staining such as anti-theft devices such as rustproofing, and . "If you've been shrewd during the buying process make sure you don't flinch at this final stage," Bartlett says. You'll need to be crystal specific about what you're looking for that isn't tacked on, profit-driving extras -- and finalize that package. To ensure that additional expenses do not add up, you should go through line-by-line your bill, looking out for charges from the dealer that you could . A few common ones to look out for are vehicle preparation costs as well as title fees . Your strategy: Know the things you're looking for and require before you visit the dealer and stay true to your goal. It is best to have financing secured and you should always remind the finance manager that you've got a set plan and you aren't able to change. What factors influence a salesperson's approach? Salespeople are usually under pressure to maximise the profit of every vehicle they sell in order in order to maximize their commissions and this affects the way they interact with you. The more a salesperson convinces you to buy a vehicle, the more profit they make. The commission they earn could be as high as 25 percent of the final price of sale, Burdge says. Additionally, the management of the dealership offers bonuses for selling cars which were parked at the dealership. There are still more bonuses from the manufacturer of the car for salespeople , or the dealership when meeting the sales target for the specific model year or model, says Burdge. "Dealerships are run on a monthly basis which means that at the close of the month the sales staff is particularly anxious to get more sales," Burdge says. "At the beginning of the month, it's generally more about the profit made per sale -- so what amount of profit will be made from each car sold." How do you prepare to purchase a car prior to you start your car shopping it is essential to think about what your wants and needs are, research the vehicles you're interested in and nail down your budget. The you need is the primary factor you consider. Sedans, SUVsand trucks and minivans all have different prices and features. Once you've identified the type of vehicle, research makes and models. Certain brands have better reviews and warranties. The trims and features that are standard must be considered when shopping. Decide if you want to buy . A new vehicle may come with the most recent advancements in terms of safety, comfort, and function -- but it will cost you more at the cost and is worth significantly less in a year. Before visiting the dealer. There are online and banks that offer affordable rates for auto loans and it is logical to have an idea of your monthly payments before the salesperson is able to start introducing common methods. Utilize your budget as a guide throughout your purchasing process. Before setting your feet on the dealership lot, it's crucial to begin make sure you are balancing your needs for your vehicle and the amount you are able to spend. "The more you spend, the less likely to be manipulated into a deal that doesn't work for you or you're not able to afford," Burdge says. "Make your choices at home and make sure you stick to them when you head to go to the car dealership." Confidence is the main ingredient to finding a bargain. Knowing the most common tactics will allow you to remain calm when negotiating. But it's not only the one option you have. Explore different vehicles, understand the value of your and you visit the dealer. You don't need to be a pro -- you only need to be clear about how much you're willing to pay and what you truly need.
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Authored by Personal Finance writer Dana Dratch is a personal lifestyle and financial writer who enjoys talking everything related to credit and money. With an education in English and writing, she loves asking the questions people would like to ask and sharing the answers -together with strategies for managing money from experts. Written by Rhys Subitch Edited by Auto loans editor Rhys has been writing and editing for Bankrate since the end of 2021. They are passionate about helping readers gain confidence to take control of their finances with precise, well-researched and concise details that cut complicated subjects into bite-sized pieces.
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