2018-03-11 | 421 Print PDF
Are you searching for online car dealers in Nigeria? thinking of buying a car online in Nigeria? That's a good decision you are making, because in today's auto car dealership we have many bad vehicles being over sold in current bad condition to the unknowing costumer.
Furthermore trying to make decisions based on research information can be overwhelming as there are tons of information online with so much mix reviews, which doesnot ease the choice of buying a car, ranging from their features down to their extra gears.
Even if you’re car savvy, you can still make an uninformed choice or get a bad deal. And the wealth of resources for information can obscure the fact that many of the rules of the game have changed. But fear not: This is why we have put together this article on "how to buy a car from a dealer". We’ve spent years researching the changing auto-retail landscape and have collected the best advice here. As new ways of shopping supplant the old, those in the know how can save time and money and get greater enjoyment out of their new car.
Stay home, do your research online, and only visit dealerships for test drives.
There are many ways to research new vehicles online, from car auction websites to the automakers’ own sites. The volume of information is staggering. Consume the info, take notes, and make a spreadsheet if that’s your thing— but do it before you head out to a dealer shop. When you reach the dealership, make the test drives count. A quick spin down the street and back won’t suffice. Don’t be shy about putting a few miles on the car, getting it up to freeway speed, and driving it on familiar roads. If a salesman insists on accompanying you, politely ask him to be quiet so you won’t be distracted. Pay attention to details. You’re going to spend thousands of miles in your new car, so those first few logged on a test drive are important.
THIS IS A MUST READ!
After 6 years of experience in the Auto auction Industry, I've learned a few things
1: Dealers will take you for granted.
2: They will never show you their true "net" Dealer cost. "Invoice pricing" is a gimmick. There are many incentives, holdbacks, and fees included in the so called "Dealer Invoice"
3: MSRP is a term made up by dealers to sock it to you. Some people don't even truly know or understand what this term means. That's why dealers love talking to you in terms of "MSRP" to distract you from "Net True Dealer Cost”. The meaning is Manufacturer's Suggested Retail Price.
4; Dealer make up to 30 to 40% mark up on some vehicles! Trust me, they do!
DO NOT believe it when they tell you that they're selling the car to you at a "loss". That's code for at a loss of more profit to them, that's all it means. 80% of vehicles are sold for very lucrative profits, trust me.
Dealers make profits from options, which are marked up, some over 15%. They make profits on finance rates, and almost ALWAYS charge you 2 or 4% more on interest. And that whole credit score thing, is also a HUGE scam, trust me on this also....
Dealer will trick and Dime you to death! They have no morals or scruples, and what drives them are profits and greed. Even in the unlikely event that you were to purchase a vehicle for "True Net Dealer Cost" They probably are still making money on it, due to Manufacturers to Dealer incentives that you will never know about.
Extra Dealer Profits are the infamous "Dealer Fee" or Doc fee... Delivery, and Destination Charges are padded and they make profits off of this as well.
Finance Dept: Watch out for this! You may end up with thousands, and I do mean thousands of additional Naira added to the price that you thought you negotiated with the salesman/manager or saleswoman/manager..They will push real hard for you to get additional bogus coverage’s that you most likely don't need or will never use, such as extended warranties, extra "Doc and finance fees" "vehicle Protections".... "Security Theft protections". The list goes on and on buyers!
Ever been to a "Dealers Auction"? Ever seen a “Dealers Black Book" or an NADA Dealers book"? Trust me my people, dealers are profit and money making machines that will bleed you dry! MMM
Ever purchase a new car, to discover a few months later the same year, that it's "worth" Thousands less?... That's because it was never worth what you paid for it in the first place! But they ‘will have you believe that it "Depreciated" 10, 15, 20, 25%!! Look at it this way, their so called "depreciation" is part of the amount you overpaid for the vehicle....
Good luck, and whatever you do, DO NOT trust the STRIKERS as they represent the interest of the dealers and other similar services, as the dealers pay them about N100,000 per vehicle sold. Do you think they truly represent you? Look at it this way, do politicians have your best interest at heart?..... Neither do dealers. The Dealers Lobby is very powerful in Nigeria, and their biggest fear is that we, the consumer can buy direct from the Manufacturer. Don't believe the "story" Research is important before making any purchase at all, and not just when it comes to car-shopping. As long as the deal concerns a hefty sum of money, prior homework would help you stay within your means. You can also avoid getting an item out of impulse which might cause you irreversible regret.