A survey reveals car shopping is one of the most dreaded consumer transactions, and consumer watchdog Teresa Murray says the frustration is justified.
"It is exhausting. It's mentally exhausting, it's physically exhausting," Murray said.
The KPA Dealership Trust Survey, conducted by The Harris Poll, found 76% of consumers say they don't trust dealerships to be honest about pricing. Murray shared the published article to help raise awareness about what consumers should the next time they are looking to buy a car.
Murray, who works with PIRG, says a lot of those frustrating transactions occur because buyers are rushed into a decision.
"Ideally, you'd be thinking about a car weeks, months in advance, and that's not the way it works a lot of times. If you're going into a situation to buy a car, and you're on a tight timeline, my vehicle got totaled, the other company's insurance company is paying for it, but I need wheels," Murray said. "A lot of times we tend not to make good decisions when we're under that kind of pressure."
Car buying is not an everyday transaction, which means most buyers are out of practice when it comes to navigating the process.
"It's not the kind of transaction that you do every day, and any muscle memory, what to look for, what to do in the deal, and the financing you kind of forget every few years," Murray said.
Murray says some dealerships — not all — purposely make car buying overwhelming.
"I think it's part of the strategy of a lot of car dealerships: they try to wear you down, so you will sign anything just to get the heck out of there, and that's unfortunate," Murray said.
There are steps you can take to protect yourself. First, remember that buying a car, trading a car, and financing a car are all separate transactions. Planning ahead is key.
"You sign the paperwork ahead of time, and then you go shopping for a car," Murray said.
Buyers should also be alert to add-on fees they don't understand or didn't ask for. Murray says many people stay silent when they should be asking questions. "A lot of times people don't speak up and ask the questions that they maybe want to ask; people get intimidated, they don't want to come up as rude," Murray said.
Experts advise understanding every fee on your agreement before signing and declining anything you don't recognize or want. That means reading every single page of the contract.
"If you don't feel like you have the time to pay attention to the contract and check all of the details, then say I have to pick up my kids, or I have lunch date, I'll come back. And do it; you have to be willing to walk away," Murray said.
You have the power to walk away. Don't let anyone pressure you into signing something you don't understand. If you need more time to read the contract, take it. The car will be there tomorrow, but a bad deal can cost you for years.
We've partnered with PIRG to put an entire car buying guide online. Click here.
