It’s not just because we’re Ford dealers near Kearny Mesa, CA that we want you to know the truth behind some common car buying myths. We also want you to know the truth because we don’t want you to fall victim to mistruths which can hit you where it really hurts – your bank account.

One myth that can really end up costing you some cash is the idea that you should always use a third-party to finance an automobile you purchase from a car dealership. Many dealerships offer financing that’s more affordable than what you can get through a bank or credit union.

When you’re shopping for a car, it’s okay for multiple lenders to pull your credit report within a short window of time. That’s because pulling several reports won’t hurt your credit score since the credit reporting agencies know you’re car shopping. For this reason, you should at least see if the dealership you’re working with can get you a car loan with a lower interest rate and/or a shorter payback period.

Another myth that simply isn’t true is that you should consider “parachuting the deal.” That term refers to instances where drivers don’t tell their salesperson that they have a vehicle to trade-in until they’ve negotiated a purchase price on another automobile. The only thing you’ll achieve by hiding your trade-in is prolonging the time you’ll spend at the car dealership.

If you have a trade-in, tell your salesperson up front. By doing so, you and your salesperson can negotiate deals on your new or new-to-your car and your trade-in at the same time.

If you’d like to hear the truth behind some additional car buying myths, visit Kearny Pearson Ford. We’ve heard some good ones over the years and we’ll be happy to share them all with you. Stop by our San Diego, CA Ford dealership today.