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It seems like everyone has a tip they want to share when you’re looking to buy a new car. Your Uncle Dave told you, “Go on a Wednesday, that’s when they deal!” Your neighbor told you to wax your car before you trade it in. You’ve probably heard so many tips that you don’t know what to believe. Well we’re here to set the record straight, and we’re going to confirm and bust some common car-buying myths!
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1.) Buy on a rainy day – it’s slow so you’ll get a better deal. This old myth has actually boosted the traffic to dealerships on rainy days. Truth is, no matter when you visit SVG, our sales staff is always going to give you a Superior Value Guarantee. Myth Busted!
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2.) Extended warranties are scams. This couldn’t be further from the truth and here’s story from yours truly, the blog writer: “I purchased a used sports car with very expensive run-flat tires. I turned down the tire/wheel warranty. After having the car for a week, I got a nail in my right rear tire. Run flat tires can’t be fixed. I had to buy a new one and it cost $400. The story doesn’t end there. Four days after having my tire replaced, I got a nail in the BRAND NEW TIRE. The one I’d just spent $400 on. This is 100% true, and boy did I kick myself for not buying the tire warranty!” Myth Busted!
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3.) Your trade-in is worth exactly what it says in Kelley Blue Book. Pre-owned vehicles are as unique as humans. Each one has been used differently, has been maintained differently and may have special features. Truth is, Kelley Blue Book is a guide and not a Bible. Car values can vary drastically from what KBB says. Myth Busted!
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4.) You can save money buying a pre-owned. This myth is a little more difficult to address. Typically yes, used vehicles cost less than new. However….if you have poor credit you may have an easier time securing a loan for a new vehicle instead of a used one. Interest rates on used vehicles are typically higher than for new, so that’s one way considering a new vehicle can save you money. Myth Partially Busted!
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5.) If you dress “poor” you’ll get a better deal. No, sorry. This one is absolutely false. What you can afford will be based on your income, credit history, and debt-to-income ratio and not what you look like. Myth Busted!
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6.) If you wax your car before you come in, you'll get more for your trade. We admit it, there is some truth to this. You see, when you trade in a vehicle, the dealership must clean it up and prepare it for resale to another customer. This costs the dealership money (we call it a reconditioning fee). So, if you bring your vehicle in to trade, if it's truly spotless and highly clean, then yes, you may be offered more than someone else who has a dirty vehicle. Keep in mind though that cleanliness isn't everything; other issues such as non-functioning features, body damage, or engine issues affect trade-in values too. Myth Partially Confirmed!
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If you’re ready to get into a new ride, SVG Motors will always treat you with respect. Call or stop by and let us show you how the Superior Value Guarantee can’t be beat!
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