Watch Out For These Common Car Buying Myths

When you head into a dealership with the hopes of purchasing a new car, it’s safe to assume that you expect the experience to unfold in a particular way. You’ve done your research and are well versed in how dealerships operate, such as the best time to buy a car or that buying used will save you money. With that knowledge, you fully expect the dealer to curtail your demands and grace you with generous offers. What if we told you that many of those car buying mantras are just myths?

There are a lot of myths that weave their way through the auto buying experience. At Tarr Hyundai, we want to help you differentiate between fact and fiction. As such, we bust several of the biggest myths and the best ways to avoid them.

The Best Time To Buy Is At The End Of The Month

Many people assume that if you wait until the end of the month to purchase a new car you’ll get a good deal. People assume this because they are under the impression that dealers receive bonuses for meeting quotas. That might be true, but if you are basing your car buying experience on whether your dealer met his/her quota this month, then you are shopping incorrectly.

Your dealer might have already hit their target or there was no target that month. If that’s the case, the deal for the car you want will be the same as on the first day. If you also wait too long, you’ll have less of an inventory to search through. What you need to do is buy a car when you’re ready!

Buying Red

Have you ever heard people say never to buy a red car because it costs more to insure? If so, disregard that flawed logic. Insurance companies do not even ask for the color of your vehicle. Insurers want to know the year, make, model, body type, engine size, and age of the car, along with age and gender.

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Buying Used Will Save You Money

This myth sounds logical. The cost of a used car will be less upfront than a new car, but it will not save you money in the long run. That is because newer cars come with many more financing options, such as cash rebates and other incentives. Those incentives can include a lower car loan rate. With interest rates continuing to rise, the difference between financing a new and used vehicle is becoming more pronounced.

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