How to DEBUNK the Salesperson The inside scoop on car selling strategies. 2ARR/Randall

1.) Find your own financing. Banks In-House Easier approval. They determine if you are in “good standing” based on your bank accounts. You might be able to “lump” your loans together. Lower APRs. Dealership. You can shop and buy in the same place. Always compare APR and fees!

2.) Research the vehicle www.kellybluebook.com Know the value New v. Old- new models are on the dealership lots in Sept/Oct. Type of condition- poor, fair, excellent Research features MPG- miles per gallon Safety Ratings www.kellybluebook.com

3.) Locate the vehicle www.carfax.com Dealerships provide maintenance records, CARFAX, and warranties Individuals may provide maintenance records, low prices INTERNET www.carfax.com

THEN, NEGOTIATE THE PRICE. 4.) BEGIN THE PROCESS Test drive. Do not negotiate – walk away! Test drive again (check mileage)- discuss features, previous owner, maintenance – walk away! Visit the lot Do you like the salesperson that approached you? Don’t give out any personal information. THEN, NEGOTIATE THE PRICE.

5.) Make Me An Offer The most classic line in the business--"make me an offer." As the unsuspecting victim, you have just given them an edge to see if you are really serious. The salesperson responds, "I'll need to get that approved by my manager." They leave you to sweat for what seems like forever. Your own thoughts work against you. They often come back with some random counter-offer that they pulled from you know where just to see if you really want the car. Play it cool while they are gone. Act uninterested because they know how people react when they really like the car. Don't make them an offer in the first place. Be willing to walk away.

6.) The One-Two Punch If the salesperson can get you to make an offer, the salesperson may bring in the sales manager or another sales person to join in the discussion. Watch out because they are probably thinking that you are sold and want to push the price up or close the deal by going two on one. They may seem nice but they are increasing pressure. Insist on only talking to the person you started with. Stay in control of the situation.

7.) Changing Prices "This price is just good for this week." Do they honestly think you were born yesterday? Each week there is a new deal. Walk away and you usually get a call back with a better offer.

8.) Gift Exchange aka The Ben Franklin Close They get you to write down what you can afford on a piece of paper. The salesperson comes back with a counter offer and slowly slides the offer across the table to make it seem like they are giving you a present. This process may repeat another four times; be firm with what you wrote down. Call them out on it- “I see you like a Ben Franklin close. Well, I’m not doing it.”

9.) Take It Home Today! Sales people know that when you take the car home it is very hard to think about returning it, even if you figure out that you are going to have difficulty paying for it. The “alternative” – “If you don’t like this one, we have one in . . .”

10.) Show Me Your Serious The salesperson asks, "Can I get your driver's license or social security card to show my boss that you're serious?" Meanwhile they now know your grandmother died of heart disease, you have a huge house and money in the bank. Don't give them any advantages of being able to check you out while you are not looking.

11.) Friend or Salesperson? Often people go to someone they know to buy their car because they think they will get "hooked up" with a sweet deal. But just stop a second and think, if a sales person "hooked up" everyone they knew with great deals, the dealers wouldn't be making the money they wanted to make. So the sales manager always wants to know from the sales person two things. First, "Do you know these people?" followed quickly by, "How much can you get them for?"

Don’t be manipulated! Its YOUR money!

But wait, the car doesn’t . . . Buyer’s Remorse Contact the Dealership The majority of dealers have no written policies allowing vehicles to be returned. Plead your case. It’s a LEMON! Constantly at the dealership for repairs? Contact the Attorney General’s Office. Still not satisfied? Contact the Attorney General’s Office or the Better Business Bureau.

Bottom Line -Search and Research! 1.) Find your own financing- remember to look at APR and fees! 2.) Research the vehicle - know the value, features, etc. 3.) Locate the vehicle 4.) Begin YOUR process- a.) Visit the lot, do you like the salesperson that approached you? Don’t give out any personal information. b.) Test drive, do not negotiate – walk away! c.) Test drive again (check mileage)- discuss features, previous owner, maintenance – walk away! d.) Negotiate price 5.) Stay in control- it’s your money! “Are you really telling me . . .?” “I need to do some research and talk to other dealers.”