Should You Tell a Car Salesman How Much You Owe?

When it comes to buying a car, it's important to be aware of the potential pitfalls that can arise during negotiations. One of the most common mistakes buyers make is to tell the seller how much they owe on their current car. This can be a costly mistake, as it gives the dealer an advantage in negotiations. It's best to keep this information to yourself and focus on getting the best price for the vehicle.Another mistake buyers make is discussing their monthly payment scheme with the dealer.

While this is an important factor for many buyers, it's best to avoid discussing this during negotiations. Instead, focus on getting the best price for the car and then work out a payment plan that works for you.It's also important to be aware of the fact that dealers may try to condition buyers into giving them information that could give them an advantage in negotiations. For example, they may ask what you do for a living or how much you owe on your current car. It's best to avoid giving out this information unless absolutely necessary.If you're in a position where you owe more money for your current car than it's worth, you should factor this into the price of your new car.

This can be a pain, but it could save you thousands in the long run.When negotiating with a car salesman, it's important to have all the information you need before making a decision. This includes knowing the average car price and researching any incentive programs that may be available. It's also important to remember that dealers may try to get you to fall in love with a vehicle in order to get you to overpay for it.Finally, when it comes to assessing your current car's value, avoid using KBB as it can be imprecise and people often overestimate their car's condition.