Don’t Be Put on ‘the Spot’
Auto dealers use a term they don’t want you to know about: spotting. Spotting is getting a customer on the showroom floor to buy a car that day. It’s every salesperson’s goal. Salespeople know that if you go home without sealing the deal on your vehicle purchase, you might change your mind about buying the vehicle. Perhaps, for example, you will realize that there’s a better deal elsewhere or that you’re not getting exactly what you want.
To avoid the pressures of spotting, take the following precautions:
Do your homework. Know your budget and your needs. Consider getting approved for a loan before you shop to ensure you are getting the best possible rate. Check with your local banks/credit unions and with AAA so that you know you are getting a competitive interest rate and term as well as a payment that fits your budget.
Sleep on it. Never buy or lease a car on the first day. Go home to think it over. Not only will waiting help ensure that you make the right decision, but it often leads to the dealership making you a better offer to lure you back in.
Looking for a new or used vehicle? Visit AAA.com/AutoLoans or call 833/345-5626; in Connecticut, call 800/332-5626.
AAA is not a lender and does not underwrite loan requests. Interest rates are contingent on model year, down payment and credit score. AAA may be compensated for the referral of auto loan customers.
This article originally appeared in the July/August 2019 edition of AAA World.