Top 9 Common Car Buying Mistakes to avoid – There’s no doubt that cars are a necessity for people these days. Alongside being a helpful purchase, getting a car is also thought of as being fun and exciting. People are eager to get in their new cars and drive off for a joyful ride. However, if we consider the number of mistakes people make while making this sort of purchase, it’s easy to say that buying a car isn’t easy.
Getting a car can quickly escalate to turn into a stressful or, at worse, a regretful experience. Even experienced buyers can make several common mistakes. Car dealerships have clever and hard-to-identify techniques to get more money out of their buyers.
However, what’s good is that there’s a solution to every problem, including car buying mistakes. Simply reading through this car buying guide can make you aware of all the car buying mistakes, preparing to buy your new car and drive off happily.
Regardless of what you’re about to buy, research is one of the most important things to do. After all, it determines what decision you will make. So, the more information you collect, the better your purchase will be. However, in the eagerness to buy a car, people tend to overlook this essential procedure and make regretful decisions. We are all impatient to drive off with our new vehicles; however, it’s severely damaging to rush the process of buying a car. Remember to try out different car dealerships such as CARS N U to collect more info.
Furthermore, when it comes to buying a car, it’s essential to know what exactly you’re looking for in the first place. If you’re not aware of your needs, you will most likely buy the wrong car. For example, if you require more spacious vehicles, you might first want to go through the different types of models, such as pickup trucks and SUVs. Due to a lack of research, many people buy cars that don’t fit their needs.
Furthermore, the comparison is also an essential part of the research. People often stick to one car model and think it’s the best out there, without carrying out any comparisons. You should not stick to one model even if it seems like a good purchase because there might be a better car.
Focusing solely on price
Budget is indeed a critical factor determining what car you should buy, as it’s essential to stay within the budget. However, many people only give importance to the car’s price, which ultimately leads to wrong purchases. For example, one might buy a cheap car, however, just at the expense of compromising needs. You should keep in mind that there are other factors that you need to consider, aside from its price.
The quality of the car is quite an important thing to consider. You may not be able to buy a durable and long-lasting vehicle if you only focus on the price. Cheap cars often lack many features while also being low in quality. Even if you have to go slightly above the budget for a better car, it’s much better than buying a vehicle that’s below your account and low in quality. Sooner or later, you’ll have to spend a lot of money on maintenance for a low-quality car. On the other hand, a high-quality vehicle demands fewer maintenance charges.
Skipping the test drive
Even if things may look good to your eyes and on paper, the same might not be accurate for trying out in real life. The same idea applies to cars. The eye-catching looks and numerous car features are pretty attractive, but it’s essential to test it out in the real world yourself. Despite the importance of a test drive, many people skip it, primarily due to rushing to buy a car. The salesperson will try to sell the vehicle as soon as possible; however, you should not easily manipulate it.
Moreover, many car dealerships have a specific route for test drives. However, this route is relatively short and isn’t enough to properly test your new vehicle. Unlike most people, you should ask your dealer for a long way and avoid this simple car buying mistake. While testing the car, make sure to drive it on different surfaces. You should also try to go to various areas such as a highway and a town. More importantly, you should also keep in mind that test drives check whether you like the car or not, alongside checking for faults.
Thinking new cars are always better than used cars.
The idea that new cars are a better purchase than used cars can be pretty harmful when buying a car. Unfortunately, this idea has become quite prevalent, and even people with budgets are looking for new cars. Most people who don’t consider used cars end up paying a lot more than they would’ve with a used car. To avoid the same mistake, you should keep in mind that used cars can often be as good as new ones. More importantly, if you come to think of it, everyone drives a used car.
Even if you have enough money and are not bound by a budget, it’s important to compare new cars with used ones. Doing so will help you find vehicles that are cheaper yet also provide good features and high-quality. Ultimately, you will make the best car purchase of your life.
Not inspecting used cars properly.
However, when it comes to buying used cars, you should keep in mind the differences, as it’s not the same as buying a new car. Perhaps the most significant difference is the inspection that you’ll need to do to make sure your used car is ready to be purchased. Despite the importance of assessment, people often forget about it or avoid paying extra money. However, spending some extra cash is a wiser decision than buying a faulty car.
Unlike taking the car out for a test drive, you’ll need to carry out a thorough inspection of your used car with the help of an expert. Even if you know a lot about cars, it’s essential to hire someone who is an expert at this job. Only then will you be able to ensure a perfectly flawless car purchase. However, if the car seller disagrees with an inspection, you should take that as a significant red flag. As it only shows that there are faults in the car.
Negotiating the wrong way
Wrong negotiating methods are one of the most significant contributors to car buying mistakes. Typically, when buying things, you have to pay the price mentioned on the price tag. However, when it comes to a car purchase, things are not the same. The price tag of cars says the MSRP, standing for the manufacturer’s suggested retail price, which means it’s not fixed. The actual fixed price is the price at which the dealer bought the car from the manufacturer. Unfortunately, not many are aware of this difference and the exact price, ending up negotiating ineffectively.
Usually, people make the mistake of negotiating down from the MSRP, which is not as effective as negotiating up from the actual price. Without knowing the exact price, the salesperson can easily manipulate you into paying much more than the actual cost. So, make sure to get free price quotes from the dealer and do sufficient research. Doing so will help you get access to the actual price.
However, there are a few more things you’ll need to consider to negotiate in the best way possible. Perhaps the most important thing is to do enough research about the car model you’re buying and avoid tricks the salesperson might use.
Trading your old car for a new one
Another common car buying mistake is trading in your old car. Trading in your old car for a new one sounds like a feasible option, as you won’t have to pay much money while also getting a brand-new vehicle. However, unfortunately, things aren’t the way you think they are. Trading an old car for a new one is a huge mistake people tend to make. Car dealerships will certainly offer you less money than what your old car is truly worth. So, not only will you have to pay more money for your new car, but you will also lose money on the older one. Trading in will only result in the dealer making more money out of you.
In contrast, selling your old car is a much more viable option. You can sell it on your own or to a dealer at your set price, ensuring you don’t lose any money. So, save yourself from regretful decisions and sell your car instead of trading it in. You’ll be able to receive a much better cash value than you think, and more importantly, buying a car will be more accessible than ever.
Getting unnecessary extras
Many car dealerships like to squeeze as much money as they can out of the buyer. One of the tricks they use for this purpose is asking you to pay for unnecessary extras. For example, car dealers might ask you to pay for rustproofing, paint, and fabric protection. To convince you, they’ll try to make these things sound obligatory and vital for the safety of your car. Unfortunately, many people fall into their traps and end up paying a considerable amount of money for nothing at all. However, you should know that it’s simply just a way of making more money and should avoid this common car buying mistake.
What’s worse is that car dealerships will also charge more for extras such as paint than their market prices. So, even if you want to get these extras for your car, make sure to get them from an external source rather than from the dealer.
Not informing your insurance company.
When buying a new car, we often buy one that’s much better and expensive than the previous one. If that’s the case with you, you should inform the insurance company before purchasing the car. Otherwise, you might have some issues while updating your insurance coverage.
Call your car insurance agent and discuss your purchase to solve any issues that might arise later. For example, there’s often a need to increase insurance coverage when buying expensive things, or you might need gap insurance. You might need to get a new insurance plan and understand the latest content and limits in some cases. More importantly, you should also find out how long your current insurance plan covers your new car. Many people make the mistake of assuming the coverage period instead of asking the insurance agent and suffer regret after buying a car.
Simple Takeaway for this article
- Take some time to research
- Price is not everything
- Must test drive
- Good condition used car is as reliable as new car
- Send the car to workshop for inspection
- Learn how to negotiate proper
- Do not trade your car if it is not urgent
- Spend on things that you need
- Always contact your insurance company that you have sold your old vehicle
There are hardly a few purchases in our lives that are as expensive as a car. So, if something goes wrong while buying a car, you can lose a lot of money. More importantly, driving a vehicle you don’t like can be one of the worst experiences. It’s essential to make sure you avoid car buying mistakes, so you don’t regret anything later. Indeed, this car buying guide will help you buy the most suitable car so that you can drive off happily.