Chances are that most of us will be buying another car within the next 5 years. Let’s face it, most of us don’t enjoy the frustrating process we’re put through by car dealers. If only car salesman weren’t such smarmy, slimy, sleazy, untrustworthy, back-stabbing sons of Buicks! And that comes from someone who used to be one! To be fair, most car salespeople don’t start their car sales careers hoping to lie, cheat, mislead, or “rip your head off” (a term they use when making a large profit on a sale), so how do they all get that way—or seem to?
I’ve held every position you can in the sales and management side of car sales. I’ve been a front-line sales guy, a phone sales guy, an auto broker, a Finance & Insurance guy. I’ve also been a sales manager and sales trainer. Altogether, I spent more than 10 years in the car business.
But before I got into car sales I had my head ripped off big time by a Ford dealer I’m proud to say is no longer in business!
We were a young married couple with a 1-year old, and expecting our second, when it became clear we needed to upgrade to a roomier vehicle. I traded in our little 2-door Dodge for a mid-size Ford Tempo. Anyone remember that car? I was so proud. Our first new car we bought all on our own. I drove that car around like I was the King of the Road driving a flagship Mercedes. I parked it catty-cornered in my work parking lot; strutting around like it was the best car in the world. It didn’t take long to prove itself a lemon!
I was so intoxicated with its new-car smell that I didn’t even realize how badly my head had been torn from my shoulders until 3 weeks later when I got a call from the dealer saying I needed to come back in so we could re-sign the paperwork.
When I arrived I noticed—for the first time—my interest rate was 23%!! The only reason I was called back in was no bank would buy the contract at so high a rate. The dealership’s contract was rejected for usurious over-charging on my rate.
After waking up to my predicament, I still walked out of there having been guilted, strong-armed and threatened into re-signing at 19%! My head was thoroughly ripped off.
Later, when I got into the car business, I was shocked at how much this happens to young or unsuspecting buyers who are taken advantage by unscrupulous salespeople, sales managers and greedy F & I closers. The tools of their trade are mis-direction, lies, and outright fraud.
So how do we end up with that sweet-smelling, paper-plated new car in our driveway without losing our heads? There are 4 smart tips to practice when it comes time to buy your next car. Check back tomorrow when we’ll explore the first of four tips that will help you keep your head firmly in place in the dealership.
