Buying a used car

Imagine this, you've just bought a used car, only to discover that it's riddled with problems, or worse, the dealer refuses to honor the advertised price. Unfortunately, scenarios like this are all too common in the world of used car shopping. So, what should you do when you find yourself in such a predicament? Joe Ducey, host of the "Joe Knows Better" podcast, dives into this issue with industry experts to provide some much-needed guidance.

In this episode, Joe welcomed Tony Sibley, owner of Automan, and Dave Warkentin, executive director of the Arizona Independent Automobile Dealers Association, to discuss the ins and outs of used car purchasing and what consumers can do to protect themselves.

The importance of doing your homework

When it comes to buying a used car, preparation is key. Tony Sibley, with over 30 years of experience in the auto industry, emphasizes the importance of consulting with professionals who can guide you through the process. "We don't sell cars; we help people buy cars," Tony explains, underscoring the value of having a knowledgeable consultant by your side.

Dave Warkentin also advises consumers to be well-informed before stepping onto a car lot. "Get yourself as well-educated as you can before you go into the dealership," he suggests. This means researching the type of vehicle you want, understanding your financing options, and knowing what to look for in a used car.

Financing: Be prepared

One crucial piece of advice from the podcast is to have your financing lined up before visiting a dealership. "Consumers should have some kind of financing in place," says Joe Ducey. This can mean getting pre-approved for a loan from a credit union or other financial institution. Having this in your back pocket not only gives you more negotiating power but also provides a benchmark to compare any financing offers from the dealer.

Dave Warkentin adds that consumers with bad credit often have limited options and may end up at "buy here, pay here" dealers, where interest rates are typically higher. However, he stresses the importance of understanding the total cost of the loan, not just the monthly payment.

Avoiding common pitfalls

One of the most common issues consumers face is being lured in by an advertised low price, only to find out that the final cost is much higher due to undisclosed add-ons. "Dealerships cannot lure consumers in with a low online price, then fail to honor that price once consumers arrive at the dealership," Joe reminds listeners, citing a recent settlement by the Arizona Attorney General with a Tucson-based auto dealer over deceptive practices.

Tony Sibley and Dave Warkentin both highlight the need for transparency and honesty in the industry. "The best way to run our industry is to take care of our consumers," Dave states, emphasizing that reputable dealers should always prioritize customer satisfaction over quick profits.

When things go wrong

So, what do you do if you discover your newly purchased car has significant issues? First, it's essential to understand your rights. "Consumers need to understand that they have a right to pay for that vehicle what it was listed for," Dave explains. If the dealer refuses to honor the advertised price or fails to disclose add-ons, you may have legal recourse.

In cases of mechanical problems, Tony Sibley recommends addressing the issue as soon as possible. "If you encounter problems with your vehicle shortly after purchase, contact the dealer immediately," he advises. Documenting all communication and keeping detailed records can be crucial if you need to escalate the matter.

Conclusion

Buying a used car doesn't have to be a nightmare. By doing your homework, securing financing in advance, and understanding your rights, you can navigate the process with confidence. And remember, reputable dealers are out there who prioritize customer satisfaction and transparency. If you find yourself in a difficult situation, don't hesitate to seek professional advice and take the necessary steps to protect your investment.

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