Common Mistakes You Should Avoid When Buying A Car
There’s no denying that buying a car, whether your first or the tenth one, can be exciting.
If you are not careful, the excitement can overwhelm you, which might cost you a lot of money and resources. When you compound such excitement with the complicated buying process, it is easy to fall for the wrong car.
Before you find yourself with a car you didn’t want or even spending a lot of money on a deal that would have been much cheaper had you been keen, here are top mistakes to avoid when buying a car.
Top 6 Car-Buying Mistakes to Avoid
Failure to Do Enough Research
You are excited to buy a car, but making rushed decisions can cost you a lot. As with shoes, you can purchase numerous vehicle models, so without carrying out enough research, you can find yourself stuck with the wrong vehicle. It is advisable to take as much time as possible to think about the car that best suits your current needs.
Researching before buying a car helps you understand so many things about cars. For instance, with the right research, you know the value of different car models and even know places such as Bayside CDJR where you can get better deals for new and used cars. Additionally, research helps you understand the prevailing market prices for new and used cars such that you can make the right decision as far as your budget is concerned.
Being Too Emotional
Given the skyrocketing prices of new and used cars, it would be a huge mistake to bring emotions to the car buying process. You can quickly become blind to other better car models if your infatuation is on a single car model. Similarly, falling in love with a particular model may push you to skip thorough research when looking at crucial factors such as pricing, safety, reliability, reviews, and the car model ratings.
It is advisable to avoid a wide-eyed approach when buying a car. If you don’t, it becomes easy for salespeople to lure you into paying more to a given car model that may not be anywhere near meeting your needs. Therefore, when car-hunting, leave emotions out of the equation; compare several models, assess your needs and wants; and above all, do your homework right.
Failing to Test Drive
Test-driving your car before you sign the cheque is a significant part of the car buying process. You will be surprised how a car that looked so good on paper would fail to meet your expectations when you hit the road. Test driving the car gives you a chance to evaluate whether the car stands a chance in terms of fitting into your needs.
If you buy a new or second-hand car without test driving it, you will be preparing a recipe for remorse later. While test driving, it is advisable you focus on all aspects of the car. Determine how the car feels from the inside, its torque, acceleration, and watch out for any mechanical issues the car might have. So, unless you are satisfied with the car, don’t sign that cheque.
Poor Point of Negotiation
If you plan to negotiate the car price down from the price on the sticker, you are making a lifetime mistake. The sticker price isn’t a great place to start your negotiation.
In most cases, the salesperson will reduce the price by a couple of dollars from the sticker price, and you will be delighted thinking you got the best deal. Unless a car is highly demanded or short in supply, you can be sure to get a better offer if you don’t set your mind on the sticker price.
This point is where your research becomes more useful because you have some information on the car’s market price. So, it would help if you negotiated the car price based on the car’s market value. That way, you can be assured of the best possible deal at the dealership.
Basing Your Negotiation on Monthly Payments Only
There is a lot that goes into determining the best car deal. You will be making a huge mistake if you focus your negotiations on the monthly payment only. Nevertheless, this is what most salespeople will push you to, so watch out for questions like how much did you intend to pay every month?
Don’t fall for such bait, as you will be making your initial step to allow for manipulation with numbers and end up overpaying for your car. With the focus on the monthly payment alone, it is easy for the dealership to lump up leasing and financing terms, trade-in value, and new-car price. With this strategy, the salesperson gets the springboard to offer you a better price in one area with the hope of compensating for it in another area.
It is always advisable not to show the salesperson that you are interested in other payment options such as leasing. Always push to settle on a given price first before agreeing to any discussions about other payment options. With the price agreed upon, you can comfortably negotiate for any other offer.
Focusing on the “Deal”
When buying any car, it is advisable to avoid focusing too much on the “deal”. With such a focus, you might end up with a vehicle you didn’t need just because the deal was too good to reject.
The chance of running into a very attractive sales incentive these days is very high. For instance, you may get hefty cash rebates, almost 100% financing, or even the lure to buy a car -through employee-discount programs. Whereas such offers are not bad, you should ensure that the vehicle you are getting is actually what you need.
The fact that a car is discounted doesn’t mean you have to buy it. Carry out enough research to evaluate a few factors about the vehicle, such as its rating, market price, and spare parts availability.
Buying the car that suits your needs and matches your budget can be a rather daunting process. However, with proper research, a little patience and caution, you can easily find and settle on the best deal possible. As you plan for your next ride, ensure that you don’t fall victim to any of the mistakes highlighted here.
One of the best ways to avoid such mistakes is to carry out extensive research on car models and always keep your car needs and budget in mind. This way, you will avoid any decision that’s likely to cost you more money now or in the future!