There are many benefits to buying a new car. If you have decided to invest in a new vehicle, it can be an exciting time ahead. You get to browse all the fancy new cars, immerse yourself in the fresh new car smell, make it yours with personalised plates, and much more. There’s nothing quite like driving away in a brand-new car.
Buying a car is not cheap. It is a huge investment and one that you should not make lightly. There needs to be time and care taken in the process of shopping for a new car. The last thing you want to do is spend all your hard-earned cash, or sign up for a 5-year lease, and realize you have made a mistake.
To help you make good choices, here are some of the biggest mistakes people make when buying a car so that you can learn from them, and avoid them.
#1 Letting emotions get the best of you
When you are shopping for cars, it is easy to get swept up in your emotions and let them get the best of you. You see a car and you cannot stop thinking about it. While it can be exciting to find your favorite vehicle, especially because there are thousands of models to choose from, it can blind you to a more suitable alternative.
You need to try to stay level-headed and make sure that you consider your needs, your budget, the safety of the vehicle, pricing information, the rating of the vehicle, reliability, reviews, the car dealership, and much more. You can help yourself and better your chances of getting the best vehicle by conducting thorough research into vehicles before you start looking, having in-depth conversations with the salespeople at the car dealerships, test driving the vehicle, visit the car dealership more than once, visiting a variety of dealerships, and take a trusted friend or family member with you to provide a fresh perspective.
#2 Buying the price not the car
Remember when you walk into a car dealership, it is their job to sell you a car. They employ a variety of different sales techniques to make cars seem more desirable and make the purchase feel urgent. One of the ways they do this is by offering attractive incentives and deals but attaching a short time limit on them.
It is easy to get trapped in the games of salespeople at car dealerships, and it can seem like buying that vehicle is the best and only choice due to the discount. That is why awareness of these techniques is vital. Remember that when you buy a vehicle, you are likely going to have it for a long time. Just because there is a good discount on a particular vehicle, does not mean that it is the right one for you. Make sure that you look past the discount, and ensure that you purchase the right vehicle for you. The discounted option is not going to be the only one, and there is no reason why you can’t get a good deal on the right vehicle.
#3 Not doing a test drive
You might think you are 100% certain about which vehicle you want to buy. It might be perfect, have all the benefits and features that you have ever wanted in a car, looks good in the brochures, and has excellent ratings and reviews, but without a test drive, you cannot be certain.
It is always a good idea to do a test drive. This is for many reasons, including that the car might drive very differently than you expected, which you might not like. You don’t want any surprises after investing a large sum of money into it. It is also a great opportunity to see how the vehicle lives up to your expectations, and how well it suits your family.
Make sure you conduct a walk-around of the vehicle, and at least a 30-minute test drive.
#4 Not negotiating a good price
Negotiating is key to getting a good deal, and it is a huge mistake if you don’t try. Car dealerships will often increase the prices on the vehicle stickers so that they can appear to offer you a deal when they decrease the price for you. Most car dealerships have a budget they can use to offer a good discount on vehicles, but you need to ask for it. If you don’t ask for a lower price or haggle your way down to one, you may pay a much higher price for a vehicle, when you don’t have to.
Before you buy a car, you must conduct research. Learn about the model, the car’s list price, the current state of the market, what prices their competitors are offering, and more. Make sure you speak to other local car dealerships so you can see where you can negotiate the lowest prices. You should get clear on what car features are important and necessary for you, so you don’t get talked into buying a car with a lower specification. Instead, you want to get your desired model at a good price. Avoid giving the salesperson your financial information at first, or the maximum amount you are willing to spend. It can be helpful to offer an amount much lower than you are actually after, so you have the opportunity to go back and forth.
#5 Going outside your budget
One of the biggest mistakes people make is getting caught up in the excitement and spending more money than they set out to. When you are shopping for cars, you likely see a price within your budget and fall in love with the vehicle. But by the time it comes to purchasing the vehicle, there are additional costs that are always added on, in some cases this might be particular features of the car, administration, or taxes. Many people will persuade themselves that it is okay to spend the extra money.
To avoid this, you should review your finances before you start shopping for a vehicle. Make sure you are happy with your budget, and always look for vehicles that are slightly less.
Make sure you don’t take the fun out of car shopping by making a mistake. Follow these top tips to help you get started.