The pleasure of buying a car can turn even a very composed individual into a nervous buyer. Buying a new car is not that easy as it sounds. It’s not something like going to the grocery store and picking up what you like. There’s a lot to consider before you close the deal, and make sure you don’t get into these common pitfalls. Here are 5 big car buying mistakes which you should avoid:
1. Ignoring your requirements
Before you actually start looking for something, understand your requirements. What type of car do you want? What’s your requirement? A sports car, SUV or a sedan, what will be your criteria when you’re choosing? You have to think about what would be the best choice for your family at present and in the future. Getting a funky sports car will definitely raise your status but that would not be a good choice when you see the bills.
2. No research or bad research
You have to do your homework. With internet being so handy now a days, you can get all the information you want on your laptop, desktop or event your smart phone. There are various websites which offer invaluable information for prospective buyers. Doing research is important as you doing want to head into a dealer with not having knowledge.
3. Ignoring price and going by payments
This mistake is common among all buyers who want to buy their vehicle on monthly installments. You definitely would want a low monthly installment because that would mean more months of payment which eventually means more interest charges for you. Even those who are getting loan with zero down payments also fall into this trap as they are later on levied with charges and have to pay much more than the original amount.
4. New or Old
Buying a new or used car in is your hands, which also depends on what’s your budget. A new car has a depreciable value of about 25% to 40% in the first two years.
If you’re a smart buyer, then you won’t bother anyone else bearing that 40% and buy a used car that is old but which gives you value for your money. If you’re worried about the warranties, don’t think much, you can get extended warranties which are cheaper than the amount which you will pay while buying a new one.
5. Did you compare?
You’re making another common mistake if you are not comparing your car at other places before you decide to buy. You will find different deals and prices at different places. So why not compare and get the best deal and price. After all it’s your hard earned money. Spend it wisely. Do your research thoroughly before making the deal.
Buying a car shouldn’t be an unhappy experience, after which you’ll have some regrets. If you want to avoid that, spend some time choosing a car which can meet your needs, is affordable and makes you happy.
This article was originally published on CarCluster Blog.
