5 Money Questions You Should Prepare For Before Going To a Car Dealership
Written by
Cynthia Measom
Edited by
Molly Sullivan
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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.
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.
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.”
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.”
What Did the Other Dealer Quote You?
Rumple said you should reply, “I’d prefer not to share the quote I got because I’d like to know your best offer upfront. I’m not going to go share your quote with another dealer so they can beat you by $20. I’m sure you can appreciate that.”
He also explained that you should never disclose the prices you have been quoted by other dealers until you have chosen the car you want to make a deal on.
“If a dealership has a problem with this response you may not want to work with them anyway,” he said. “If they can’t be transparent about their pricing upfront, that’s a red flag.”
Are You Prepared To Buy Today?
Some car sales representatives might try to pressure you into buying by telling you that the price offered is only good if you buy the vehicle that very same day.
If you’re asked this question, Rumple said that you should tell the salesperson that you find it very difficult to believe that the price you’re offering is only good for today.
He also said to say that if the car sells before you make your decision, you’ll understand. However, you should make it clear that you are not going to be pressured into buying based on being told the price is only good for that day.
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