Car buying mistakes to avoid

Posted on: 12 July 2016

Buying a new car is often an exciting experience for many car shoppers. However, it's also a complicated process which may see you end up overpaying by considerable amounts of money or stuck with a car that you will not be pleased with down the road. Here are 3 mistakes that many car shoppers often make that may quickly turn that early enthusiasm into buyer regret and how to steer clear of them.

Ignoring the test drive

One of the most crucial aspects when buying a new car is conducting a test drive. Many cars look fantastic on paper, particularly in stylish brochure photos. Nevertheless, the test drive is your best opportunity to gauge how the new car measures up to your anticipations. You do not want nasty surprises once you've parted with your money. That is why it's shocking that many car buyers give new cars only a token test or, even worse, nothing at all. In reality, that's a blunder and a sure formula for buyer regret. It's crucial that you take at least half an hour to carry out a test drive as well as comprehensive walk-around of any new car you're considering.

Concentrating solely on the monthly payments when negotiating

Salespersons prefer to work with a monthly-payment sum when negotiating a car buying deal. As a potential car buyer, you will likely face this question, 'how much do you intend on paying every month?' when you meet with a sales agent. Typically, the monthly payment includes a combination of the new car price, trade-in value as well as leasing terms, giving the sales agent plenty of latitude to award you a discounting price in one section while making up for it in other areas. Rather than paying a lump sum monthly amount, ask the salesperson whether you can negotiate one aspect at a time. Consider the car's price first, then negotiate the trade-in, leasing, or financing independently, as necessary.

Purchasing the 'deal' rather than the new car

Car manufacturers often offer a host of attractive sales enticements, from zero percent financing plus significant cash rebates to worker-discount pricing strategies. Of course, these can save you sums of money; however, bear in mind that any deal is only as worthy as the vehicle that's involved. Simply because you can obtain a good price cut does not mean you should purchase the new car. After all, you will be stuck with the car for years; therefore, make sure it's suitable for you. Know more about the car by researching its ratings and reviews online. Also, find out about the reliability of the car. In spite of an attractive price cut, a car with a questionable reliability and the potential of a huge depreciation may not be much of a discount down the road.

For more information on buying a new car, talk to a professional.