First Time Car Buyers and The Risk of Overpaying
With less experience to guide them, first time auto buyers often fall victim to dealer tactics aimed at squeezing every ounce of revenue from the sale. Vehicle purchase price is often not the problem; add-ons are.
In addition to offering auto loans for first time buyers, dealership salespeople may try to sell them a swath of extra products such as extended warranties, credit insurance, and theft deterrent devices or services. While many of these are legitimate products, they may not be quite as essential as the salesperson makes them out to be, and they can very quickly increase the total purchase price of the vehicle.
