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Demystifying Myths About Buying/Selling Pre-Owned Cars

There are a lot of myths that surround the used car industry and more often than not, it is as a result of misrepresentation by people who have had bad experiences with buying or selling used cars. That being said, the used car industry has evolved and with dealerships like Carswitch, who buy and sell pre-owned cars in Dubai and all over the UAE,  the ease of doing business in this industry is now simplified. With a strong online presence, they have done away with the days of large down payments and intensive paperwork.

Myth 1: Good deals are only on the internet

The ease of shopping online has made it a shopping haven to buy anything from groceries to cars. Of course you do get great deals online and many people find it convenient to sit in the comfort of their homes and shop, rather than going down to the dealership. However lots of dealerships also offer great deals to keep up with the competition. It would be wise to keep your internet research as a starting point and see the car in person, rather than rely solely on internet reviews and prices.

Myth 2: A large down payment is a must

You might be under the misconception that buying a pre-owned car in UAE means making a large down payment. Most established dealerships value the customer experience and the loyalty that comes along with it, hence making the process of doing business fairly simple. Most often dealerships do not insist on a large down payment upfront.  However, in the off chance that your dealership insists on a large down payment as the only option, take some time to reach out to other dealerships.

Myth 3: Credit score is key
While credit scores are important, especially while applying for loans. They are more important when dealing with financial institutions as they have strict rules and guidelines to follow while giving out loans. In the case of used car dealerships that have their own financing options, the same rules don’t apply, hence your credit score is not the deciding factor.

Myth 4- You’ll get a better price if you pay cash

The old myth, cash is king is exactly what it is-old. Dealerships nowadays will probably give a customer who also takes out financing from the same dealership a better deal than a customer who pays full cash.

Myth 4- Deadline on deals

The oldest trick in any retailer’s book is to put a deadline on an attractive deal. Consumer psychology is such that the thought of losing out on a great deal makes them rush into a purchase, which they may not even have wanted to begin with. Used car dealerships have great deals all the time to make sure their sales are booming.  You may not find the exact deal but you will find something similar, so don’t rush into anything.

Myth 5- Guaranteed warranty

A used car does not come with a guaranteed warranty. Make sure that you are aware of the insurance and warranties on the vehicle you intend to buy. There are different types of warranties and not all cover the entire car.

Myth 6- A blank history report equals a perfect car

There is no such thing as a perfect pre-owned car and the vehicle’s history report can shed light on the condition of the car. So as a buyer, always insist on the vehicle’s history report and as a seller make sure you keep yours up to date.

.Myth 7- There must be something wrong with the vehicle

One of the most common myths to plague the used car industry is that a person is selling a vehicle because there is something wrong with it. However that is far from the truth, people sell their cars for lots of reasons which have nothing to do with the current condition of their car. On your part be a smart buyer and do adequate research and test drive the vehicle.

Myth 8- Missing safety features

Most pre-owned cars like new ones have most of the safety features like side air bags, anti-lock brake systems etc.

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