Buying a new car is an exciting and often necessary experience. People either bar a car because they are ready for an upgrade and would like to consider a vehicle that they have had their eye on or they purchase one out of necessity. Both of these types of buying require a strict process of following 6 important steps to ensure the vehicle meets all of the buyers’ needs.
The 6 mistakes that car buyer’s make when purchasing a car are:
Not knowing their credit before walking into a dealership
Not knowing your credit score before walking into a dealership is never a good idea. It is important to have your credit ran before you start shopping for a new vehicle. In some instances, this might give you a chance to work on improving your credit so that you could qualify for a lower APR. In other cases, a fantastic credit score gives the buyer an opportunity to shop around for the best financing available and secure a loan through a bank with better terms and conditions than the one the dealership may utilize.
Not knowing the value of a trade-in before walking to a dealership
Not knowing the value of a trade-in before walking into a dealership is a bad idea. It is typically better to sell your vehicle outright before you attempt to use it as a trade-in. This is not always possible. Perform extensive market research so that you know your cars market value. This will prevent you from settling for an unfair trade-in price.
Setting their hearts on only one particular make and model
Setting your heart on one particular make and model is never a good idea. While you may have a type of “dream car” in mind, it is important to remember there are more like these available from different car manufacturers. Be open to looking at vehicles from different manufacturers; you may be surprised and find you like a car you never would have considered previously.
Focusing on the sale price and not considering additional fees
When shopping for a car it is easy to get hung up on the sticker price. While the deal might look good on the piece of paper stuck to the window, this is not always true. The number on the car is the price of the car. That sale price does not include any fees the dealership may tack on, financing or registration dues. Remember the number you see displayed on the vehicle is not the final and lowest price.
Not test driving the vehicle prior to purchase
You must never purchase a car without test driving it. Even if the car is brand new, it is a good idea to take it for a spin first. You may absolutely love how the car looks and the price may be right but then when you drive it you may realize it is uncomfortable.
You may dislike how the seats feel or find the features inside are not what you had anticipated. Even if you test drives one particular make and model but decides on a different car of the same make and model, test drive that one as well to make sure it’s everything you are expecting it to be.
Feeling pressured and unwilling to shop around
Some purchasers will spend hours at a car dealership. It feels as though the entire day has spent walking the lot, test driving cars, talking to managers to get the price negotiated and then sitting in the finance office.
Out of nowhere, the paperwork doesn’t match up and things seem to have gone wrong quickly. A lot of buyers are afraid to walk away from a bad deal and will be pressured to sign the line anyways. There is always some car at another dealership. Never let yourself feel pressured to purchase when you feel as though the deal is inadequate.
Avoiding these 6 common car-buying pitfalls will help ensure your car buying experience is more pleasurable. Be open to different makes and models, know your credit score and don’t buy unless you feel comfortable with the proposed sale.