Car Buyers Top Ten Questions And Answers

We read the consumer articles that give us detailed instructions on the most revealing questions to ask used car sales reps when we’re at the car lot searching for a car. Then, there are the questions that consumers are actually asking. And surprisingly the two are far from being identical.

This post will list the top ten questions that are really being asked along with the corresponding answers they’re likely to solicit.

In the spirit of drinking from the well, we’ll have veteran General Manager Ronnie Smith of Louisville KY providing the inside scoop. Starting as a teenager in a dealers detail shop Ronnie slugged his way to the top of the industry and has served as a General Manger for used car dealers like Shively Auto Sales, JD Byrider, The Car Store, Cars Direct, 44 Automart, and Autosmart.


According to what Ronnie hears from his sales reps, the #1 question from the customer is…

Q1) What is the bottom dollar price on this car?

A1) It depends. Will you be financing or paying cash?

Q2) How much is the down payment?

A2) It will depend on a few different factors. For instance, a more expensive car potentially will need a larger down payment. Beyond that there’s your credit history to consider. If you’re a primary buyer (have great credit) you can buy the car with a few hundred down. If you’re credit is a little slow or shaky the banks will want up to 15% down on the car.

Q3) How much are the monthly payments on this car here?

A3) It depends on a few different factors.. For example how much are you putting down? That will make a big difference in how much the monthly payment will be. Also your payment history and credit score will determine what kind of rates we can get you from the banks, and that will make a big difference in the amount of the monthly payment.

Q4) How long does it take to buy the car?

A4) If you are paying cash or have great credit only an hour or two. If you’re credit is slow or shaky in the banks eyes, it can take all day to get the necessary information gathered up and submitted to get the approval process going.

Q5) What kind of information do the banks need to get me financed?

A5) If you have great credit they will only need a copy of your drivers license, proof of full coverage insurance on the car you’re buying, and a piece of mail proving that you live at your current residence. If you have bad or slow credit history the banks will require the 2 most current pay stubs from you employment, a copy of your drivers license, 10 personal references, a utility bill that you receive at your residence that’s no later than 30 days old with no late fees showing. And a copy of your cell phone bill.

Q6) Do I need to have a drivers license to buy a car?

A6) Yes!

Q7) Do I need to have insurance to buy a car?

A7) Yes, you do. If it’s being financed it has to be full coverage with $500.00 deductible.

Q8)  How long do I need to be in my current job to be able to qualify for a loan?

A8) Lenders need to see a minimum of 90 days employment with a company to consider financing you for a car loan.

Q9) Do I need to have a checking account to buy a car?

A9)  If you’re paying cash you will not need a checking account to buy a car. But if you need to be financed, yes you will need to set up a checking account.

Q10) What forms of payment are OK?

A10) Cash, checks, and credit or debit cards.


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