Things are never easy when it comes time to make that big decision. Buying a car is no different and it’s all too easy to end up with regrets right after you finally decide to get that brand-new car. How do you avoid car-buying regrets? By following this list of 8 mistakes to avoid when buying a new vehicle.
1- Not Doing Your Research
Buying a vehicle shouldn’t be done on a whim. It’s important to spend as much time as you can researching your preferred model as well as everything you can about the specific car you expect to purchase.
2- Skipping the Test Drive
It’s easy to make a car look great – not only in photos but also in person. Taking a test drive lets you make sure that everything inside also works great, and it also helps you know that the vehicle is the right fit for you and your lifestyle.
3- Saying Yes Too Quickly
The dealer is going to do everything they can to get you to say yes. No matter how much you want the car, however, saying yes too soon is a big mistake. Whether that’s spending more money than the car is worth or getting a one-sided loan agreement, saying yes without thinking about it is a recipe for disaster.
4- Not Checking Your Credit
Everybody knows how important it is to have good credit. However, it’s all too easy to forget to keep track of it. If you fall into bad credit or mistakes that cause it to go down, you could end up walking into the dealership at a disadvantage.
5- Not Walking Away From a Bad Deal
If the seller doesn’t want to give you a proper deal, too many people think that they have no other choice but to take it. However, walking away is nearly always the better option. In some cases, it may even cause the dealer to second guess themselves and give you a better deal.
6- Taking a Bad Loan
Cars lose their value at an astonishingly fast rate. Taking a loan that doesn’t take this shorter time into account can be a major mistake. You’re better off taking the shortest-term loan that you can afford to minimize your interest.
7- Negotiating From The Monthly Payment
Knowing the maximum amount that you can afford to pay each month is essential information to know. However, that doesn’t mean that the seller also needs to know. Letting the dealership know too much can greatly reduce your negotiating power.
8- Not Trusting Your Gut
Everything may be going perfectly. You may have found the car of your dreams and the negotiation may be going perfect. However, something in your gut may be telling you that something is off. It’s during times like these that listening to it can save you from a painful mistake later on.
Getting through a dealership and driving off with your new car should be a wonderful experience. Taking the time to avoid making any mistakes during the process is essential in being able to get this experience.