Apart from having a huge library of helpful tips and advice for maintaining a car, Naijauto also dishes out properly researched articles featuring numerous car buying and selling advice that helps people to make reasonable decisions when buying or selling a car.
We understand how hard it can be for most people when buying a car at dealerships anywhere in Nigeria, considering the fact that is an event that usually involves a huge financial commitment.
Being equipped with the right knowledge before going to car dealerships will save you time and money
Also, most car buyers find the buying process to be daunting because they are usually aware of the fact that car dealers will jump on any slight mistake made by a buyer to earn more bonus for themselves by selling higher than the normal prices.
In order to break this “mentality” and unnecessary “fear” in the minds of most car buyers; we have compiled this list of Top 5 Car pricing mistakes we believe everyone should avoid at any dealership.
If you don’t want to be cheated or if you wish to get the best “bang” for your money then, read the below top 5 car pricing mistakes and avoid them when you are buying a car at any dealership;
1. Knowing little or nothing about the car you are buying
If you do not want to be cheated at a car dealership then spend some time researching the car model and brand you plan to buy before walking into any dealership.
This is the internet age where you don’t even need to stress yourself out going to auto repair shops and mechanics for advice instead you can sit at the comfort of your home and dig up a decent amount of useful resources online about the cars you wish to buy.
Find out the pricing trends, common problems and issues that other people have posted online about the car. Having such basic knowledge will really help you negotiate well and make the right decisions at dealerships in Nigeria.
>>> More useful tips at car dealership: 7 effective ways to negotiate the price of a used car
2. Having no idea of the invoice price
When going to car dealerships, it is also advisable that you make some intense preparations in order to have a smooth negotiation process. One crucial step you should take is to find out the actual retail price that the vehicle manufacturer suggested. This is also referred to as the “invoice price” or “sticker price”.
Knowing the Sticker/Invoice price of a car will help a buyer find a better position when bargaining at dealerships
Even though extra shipping and clearing costs usually makes it difficult to see any car that will be sold at its exact invoice/sticker price, but it’s still helpful in giving a better idea of a base price to start a bargain from.
3. Ignoring or not having a budget
Many car buyers easily ignore their intended budget when they get to car dealerships while a majority do not even make any budget at all beforehand.
This is a really bad approach because buyers that do not have or ignore their pre-planned budget will easily get swayed by car dealers into buying cars they might never really like or even regret buying later.
Have a budget and fix your mind on a specific spending limit before going to car dealerships
When you have a budget that you have already planned out from home and fixed your mind to; you shouldn’t have much problem making the right buying decision at dealerships. Also, try as much as possible not to get into any car loan plan at a dealership when you have not even sat down to think about it initially.
4. Not knowing the Trade-in value of an old car
If you are planning to do a trade-in of your old car for a new one at any dealership then, it is crucial that you initially make your findings of the current value of your old car else you will only get it sold to a dealer at a ridiculous price.
Knowing the current trade-in value of your old car before driving into any car dealership will really help you to avoid underpricing problems with Nigerian car dealers.
>>> If you want something affordable and reliable, check: How much is the 1998 Toyota Corolla in Nigeria?
5. Refusing to walk away sometimes
Believe it or not; there is no vehicle on this planet that is “too good” for you to walk away from especially when the dealer’s price is not in your favour at all.
Learn how to stay within your budget by walking away from a car dealership rather than forcing yourself into a very bad deal
As a matter of fact, being able to turn your back and walk away is a very great “weapon” for any car buyer at a dealership because it helps you create the “no serious attachment” atmosphere which car dealers are fond of leveraging on.
Sometimes car dealers or salesmen/women would even call you back once they see you walking away and offer you a much lower or better price that will favour you.
So, learn to walk away when all odds are against you!
10 Mistakes Lots of People Make When Buying a New Car
We strongly believe that all of the points listed above are the most important top car pricing mistakes buyers should avoid at dealerships.
Meanwhile, if you are ready now to buy your first or next car then, hop over to check out our huge collections of New, Tokunbo, and Nigerian used cars for sale in Nigeria.