Car shopping can be an exciting prospect, filled with daydreams of racing down the coastal freeway in your new ride. The process of actually purchasing a car, however, isn’t quite the same joy ride. It is a huge financial decision that can become muddled along the way by any number of mistakes.
In fact, many consumers end up purchasing a car they didn’t actually want because they didn’t do their research or made some blunder when shopping. Whether you’re in the market to buy a new or a used car, make sure you don’t make these common car shopping mistakes.
Not Doing Proper Research
The ultimate source of most car shopping mistakes comes back to not doing proper research. Make sure you know about the car models you’re interested in, financing options, whether it’s better to buy a used car or a new car, etc., before even beginning your search.
Forgetting to Shop Around
It’s unlikely you’ll find the right car at the right price unless you take a look around. Shopping around makes you knowledgeable. Also, telling your dealership that’s what you’re doing will be a helpful bargaining chip in negotiations.
Choosing a Car That Doesn’t Fit Your Needs
Oh, how we all want that new sports car with the retractable roof! Buying a car based on emotion or picking a car that doesn’t actually meet your needs, however, is a huge mistake. Come into the process knowing exactly what your needs are in a vehicle and find a car that fulfills them or you’ll regret it.
Ignoring the Test Drive
Seems strange, but many people skimp on the test drive when car shopping. No matter how great the car looks and sounds, it’s important that you feel comfortable behind the wheel before signing. Don’t buy it if the dealer refuses to let you drive it first.
Not Getting a Used Car Inspection
Never purchase a used car without getting an inspection by a professional mechanic. It’s a common car shopping mistake that leads to a lot of trouble down the line.
Falling Victim to Tricky Sales Tactics
Car salesmen are there to drive the price of the vehicle up. Whether it’s hiking up the monthly payment or attaching unnecessary features, if the salesperson is putting you under pressure it’s time to take a step back. Be firm in what you need and how much you can afford.
Financing Improperly
Financing is key when buying a new or used car so be prepared. Figure out what your budget is then find out what financing options are available from various banks and dealers before even thinking about shopping.
Not Getting the Right Trade in Value
If you’re trading in your car, don’t let the dealer tell you what it’s worth. Get online and check yourself, there’s a variety of reliable references from websites such as Kelly Blue Book.
Shopping Based on Monthly Payment
Car payments involve so much more than just the monthly payment, but many people forget that when suddenly their dream car seems reasonably priced. Before grabbing what looks like good monthly payments, figure out the time period, the car depreciation rate, maintenance costs and so on.
Only Focusing on a “Good Deal”
Your car buying decision shouldn’t come down to just getting a “good deal” or even an “amazing deal”. The car needs to fit your needs for however long you’re going to be driving it. Choose carefully so you’ll be satisfied for years to come.
