Do you need to buy a new car? If so then now is the time for you to start looking. With that in mind, you also need to make sure that you avoid these top mistakes, because if you don’t then you may find that over time, you end up paying way more for your car than you should and this can make it difficult for you to feel content with your decision.
Buying the Wrong Type of Car
It’s never really a good idea for you to buy a car based on the price or even the available rebates. If the car is good quality or if you feel as though it suits your lifestyle then this could end up costing you way more overall which is the last thing you need. If you want to make a solid decision then make sure that you give some thought to your budget, lifestyle and your family needs. If you can do this then you will soon find that it is easier for you to come up with the best solution, without breaking the bank. Research any cars that you could possibly find on the lot and check sites that compare vehicles you would be happy to drive. You can also check the reliability rating here as well as using loan calculators, as this is often the best way for you to evaluate your monthly cost.
Mixing Emotions with Finances
If you fall in love with a car then make sure that you sit back with the decision. Make sure that it is really something you want. If buying a new car is out of your budget then consider a gently-used model instead. Purchasing a used model that has a strong history is better than buying a less reliable model, so make sure that you give this some thought. Before you make a final decision, be sure to look at the numbers and also look at how secure your home is so you can make sure that you are buying a car that is not going to lead to heartache at a later date. If you can follow the rule of never buying a car on the same day you see it then this will help you to avoid mixing emotions with finances, so make sure that you keep that in mind.
Choosing a Dealership Close to You
Dealerships tend to charge based on the ZIP code, so make sure that you look at the same model, trim and even make of car from someone else. If you can do this then you will be able to avoid a bad buying experience. Don’t go to the dealer close to your home and make sure you ask around. Learn from experiences and look at how dealerships handle the sales process. What’s more, is that the CSI score from the dealer will play a big role in what inventory they get from a manufacturer. The dealerships who happen to have the best CSI score overall will get the most popular vehicles from the manufacturer, so it helps to check the complaint record so you can get a better idea overall of what you are dealing with.
Don’t Worry about your Trade-In
Most dealerships negotiate the sale price of a car along with the trade-in price at the same time. The main reason why they like to do this is because it adds an element of confusion to the process and shoppers don’t usually benefit here. If you want to benefit yourself then one thing you have to do is negotiate a price for your car first and then bring your trade-in afterwards. If you do this then you will be able to find out what price your car is worth outside the dealership and you can come prepared. Make sure that you renegotiate the sale price of your purchase first and then talk about potential trade-ins. Compare offers from numerous dealerships and remember that you do not have to trade in your car at the same place that you happen to buy from. Someone else may give you a way better price, so you can get the most money out of your current car. If your car keeps breaking down then it may not be worth very much. In instances like this, you’d be better off hiring a towing service and then getting your car scrapped, rather than wasting your time with trade-in.
Going Alone
There is nothing worse than going to make the biggest purchase of your life when you just have no idea what you are doing. If negotiation tactics are not your forte then think about turning it over to an auto broker. You can then get help with your purchase and it also means that you have someone on your side. If you want to help yourself then you can also take a friend with you. By doing this, you can then make sure that you do not end up making a purchase you are later going to regret. If you have a relative who knows a lot about cars then you can bring them with you as an advocate. You may also be able to have a bit of emotional support when the time comes for you to fill out all of the paperwork and this can work in your favor more than you realize.
Agreeing with Sticker Price
The sticker price that you see on the showroom floor is probably not the price that they are willing to let the car go for. Make sure that you compare the prices and that you look up the manufacturer’s suggested price too. This is one of the best ways for you to find out if you are getting a good deal while making sure that you are not being pushed with a hard and fast sale. Your final price may end up being higher after the add-ons and sometimes you may not be able to negotiate, but either way it does help you to feel a bit more empowered.
Source: Pexels
Not Reading Paperwork
Negotiation is really only part of the issue. You will have to jump through a lot of other hoops if you want to get the best result out of your purchase. You need to give some thought to things like warranties, interior protection, wheel protection and more. At the end of the day, dealers will often make as much money as they can in the showroom floor. They have targets they have to meet too, so they will often try and add on insurance, interest charges and other fees. Each product, when you look at it on its own, might not be expensive, but it can add up. Keep in mind, that it is okay for you to take a break so you can run the numbers and so you can make your own mind up. You can always go back and add things on but you are in complete control of your purchase, not the dealer. Don’t be worried about wasting their time either, because they are there to serve you. It may be that if you’re not happy, that you walk away. By doing this,you can then make sure that you end up getting the best result out of your purchase and that you also feel as though you have time to think about the choices you are making. As a general rule, if you aren’t sure, it’s always best to take a breather and come back later.
