Unfair and Deceptive Pricing Practices Seen Across the Used Car Market

Unscrupulous car dealers often advertise cars at unbelievably low prices to grab your attention.  Be Careful and Buyer Beware!  The truth about these low-priced cars is that all too often the vehicle has accident history, a “branded”, aka Restored Salvage title or the odometer is inaccurately reporting the true mileage.

Other low price advertising tactics that we often see revolve around the idea that a person has to trade in a vehicle to purchase this cheaply priced car, and if they don’t have a trade-in the price is immediately marked up as much as $1,500.00.

Also, if you don’t finance the vehicle through the dealer’s finance department there is an additional $1,500.00 markup.  If you do finance it through the dealer the interest rate may be more than 2 times higher than the local credit union’s rates.

The combination of the two adds as much as $3,000.00 to the base price of the vehicle. And it doesn’t end there.  Expect higher than normal documentation fees, and add-on sales for an extended warranty, gap insurance, extra keys, and more!

The bottom line is that if the price is too good to be true it is.  This adage rings true time and time again.

At Precision, we price our vehicles fairly and we do so by using software tools to analyze the local car market to find the current fair market value for every car we sell.

We encourage everyone in the used car market to do their due diligence and even if you don’t buy one of our cars at least have our service department perform a pre-purchase inspection and also allow our sales department to help you determine the fair price of the car you would like to purchase. We’re here to help.