101 book

What Every Car Dealer Doesn’t Want You To Know

Ex Car Salesman shares his insider tips, Secrets & strategies to getting a great deal

101 Car Buying Tips, Secrets & Strategies

By James H Sweet

101 Car Buying Tips, Secrets & Strategies

Section 1

Pre Shopping Preparation Tips Financing Tips 1.Know Where You Stand Credit Wise

101 Car Buying Tips, Secrets & Strategies

Financing Tip # 1

Know Where You Stand Credit Wise ( Pull your credit reports ) Probably the most important question that is rarely ever asked before buying a car is, who can offer me the best financing rate and terms?

For some reason when it comes to financing, car buyers don't put as much importance in finding the best interest rate & terms, as they do best price and trade in value.

It's said that only 20% of all new and used car buyers will seek out the best available rate and get pre-qualified before visiting a car dealership.

That means the other 40% that could get pre-qualified, but don't, become easy targets for the dealer to take advantage of, since the buyer will not know what they truly qualify for when it comes to financing rates.

You see financing is just another product that the car dealer offers their customers, but for that convenience a dealer can easily add thousands in additional profits to the backend of the deal.

They do this by shopping your deal to their large network of lenders. The lenders that want to buy your deal give the dealer what's call a buy rate, which is a wholesale rate that the dealer is allowed to mark up a few points as added profit.

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101 Car Buying Tips, Secrets & Strategies

Financing Tip # 2

Boost your FICO scores as high as you can before you buy Probably the most important question that is rarely ever asked before buying a car is, who can offer me the best financing rate and terms?

For some reason when it comes to financing, car buyers don't put as much importance in finding the best interest rate & terms, as they do best price and trade in value.

It's said that only 20% of all new and used car buyers will seek out the best available rate and get pre-qualified before visiting a car dealership.

That means the other 40% that could get pre-qualified, but don't, become easy targets for the dealer to take advantage of, since the buyer will not know what they truly qualify for when it comes to financing rates.

You see financing is just another product that the car dealer offers their customers, but for that convenience a dealer can easily add thousands in additional profits to the backend of the deal.

They do this by shopping your deal to their large network of lenders. The lenders that want to buy your deal give the dealer what's call a buy rate, which is a wholesale rate that the dealer is allowed to mark up a few points as added profit.

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