The latest launch from Mike’s Car Store, founded by industry veteran Chevy Dude, offers consumers a bite-sized video presentation, highlighting some of the mistakes that buyers tend to make when purchasing a new vehicle. Presented by company leader Mike Davenport, aka Chevy Dude, the guide provides tips and advice on how to strengthen one’s negotiating position.
More details can be found at https://www.mikescarstore.com/blog/2022/10/26/negotiating-tactics-for-car-dealer-finance–first-time-buyer-guide-launched
The newly published segment is part of an ongoing series of informational clips. Mike’s engaging presentation style provides a fresh perspective on gaining the upper hand when entering into financial agreements with car dealers.
Mike explains how many dealerships and their finance departments use the time to their advantage during the sales process to upsell a range of additional products. The longer the process takes, the more chance sellers have of getting offers from banks who won’t impose lower limits on back-end additions such as key fobs and tire insurance.
Mike’s Car Store recommends that customers deal with the finance manager directly rather than an agent doing the paperwork. By asking how long the contract process will take and setting a timer to hold dealerships to their word, buyers can gain an advantage over dealers, helping them retain control in negotiations.
Another of Mike’s recommendations is that prospective buyers should, where possible, have lined up finance with an independent broker or bank before visiting a dealership to purchase a vehicle. This leaves customers less vulnerable to pressure from sales agents and puts the onus on a finance department to offer a more competitive package.
Customers are also encouraged to think of every aspect of a car purchase as negotiable. Mike recommends getting sales agents to spell out the real-world costs of extra items such as extended warranties. This allows buyers to see beyond a smaller bump in monthly payments and assess whether paying, for example, three or four thousand dollars over the finance period for an additional product is worth it.
Mike also explains why the highest-ticket item on any car finance package is the interest rate and that buyers should ensure they pursue a lower rate rather than accept the first offer.
Mike says, “It’s going to empower you to walk into the dealership with more confidence, knowing that you’re not going to overpay and walk out with the car that you want and get a price that you deserve.”
For more information, go to https://www.mikescarstore.com/blog/2022/10/26/negotiating-tactics-for-car-dealer-finance–first-time-buyer-guide-launched
Mike’s Car Store
8379 ST Road 64