Cars
Precautions to take while buying a car from a dealer in Canada
Here I am writing about a car dealer Basant Motors, Vancouver, BC, Canada
The ambience and customer service while buying a car is good. The important questions they ask the customer to analyze are:
- What is your monthly Budget: They ask this question to know how much you can afford and they will try to push the car cost according to your quote. Most of the time, their inventory doesn't have any price tags, if asked they will say, they are busy and cars come and go every day (This is a foolish answer that any company could give to a customer). If you monthly budget is $150-$200 then stick to it, they will try to manipulate the price and quote you accordingly and increase the monthly budget, more will be explained below.
- What kind of car and features you are looking for? This question is to understand to analyze the car they can show you. First, they will show you a useless car within your budget, they may or may not reveal the price of the car but this is to distract you to show the other upcoming cars looks better than this.
- What do you do and what is the purpose of the car? This is to analyze your monthly income and the purpose of usage. Other than going to school any other answer that creates income will result in a high car price.
- Does anyone refer you? This is to understand that how much you know about purchasing a car. If it looks that you don't know much about cars, prices and bargain then you will end up paying high.
- Do you have any credit score history in Canada? This is to analyze your interest rate for the car. If you are new to Canada without any credit history, the interest rate will be high that may go up to 12% (A good score above 800 will have a 0% interest rate). If you are new to Canada and don't have any credit score history, banks may refuse to give loan but not always, so the dealer will say that they will lend you in a way to help you at around 10-12 percent interest rate and may tell you that you can change your car after one year. But this is a business tactic where the first few years of car purchase most percentage of the payment is interest rate than the principal amount.
The data obtained from personal and friends experiences.
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