The Most Common Costly Mistakes People Make When Buying A Car

Shopping for a car can be both a stressful and exciting experience. A smart purchase involves the right preparation. Here are blunders people make that can dent a buyer’s wallet.

They don’t consider a used car

A new car will lose much of its value in the first year of ownership. A vehicle goes through a meticulous inspection to qualify for certification. Manufacturers evaluate physical condition, mechanical quality, and mileage. Cars chosen are less likely to need repairs down the road. A new car warranty ends at a certain age or mileage. Conversely, a certified warranty extends coverage beyond an original warranty’s expiration. If you buy a used car, consider the fuel economy, extra safety features, and look for cars with less mileage.

They forget to factor insurance costs

People often lose sight of this necessity in the car-buying process. However, insurance will add to your total cost. Call your insurance agent once you’ve narrowed your choices down to a few different makes and models. You may be able to save money with a particular trim level or engine size. The car size, make, and model can dramatically impact insurance premiums. A more expensive car is likely to render a higher premium. It also pays to comparison-shop auto insurers.

They don’t conduct a thorough test drive

DME Automotive reports that one in six buyers doesn’t perform a test drive. Roughly 30 percent take only a 10-minute stint around the block. However, this doesn’t provide a complete demonstration of the car’s overall behavior. Consider how you intend to use a car and whether a particular vehicle will meet your needs. Make a checklist of "must-have" features, and run through it during the test drive.

They omit doing vehicle research

Many people approach car shopping with vague ideas of what they want and how much they can afford. Using the internet to glean information equips you with bargaining power. You’ll have the buyer’s advantage with an online comparison of makes, models, reviews, road tests, and pricing. If you’re aiming to buy a used car, doing a VIN search is vital. A Vehicle Identification Number is your ticket to obtaining histories regarding title, accidents, leasing, mileage, and maintenance. You can quickly get a car history report on Instavin.

They succumb to sales pressure

It’s common for a salesperson to leave the negotiating table and speak to a manager, supposedly to get you a better deal. Upon returning, you may be told that a price reduction is only possible with an on-the-spot commitment. If you’re subject to this tactic, consider it a warning sign. If you’re confronted with mounting pressure to buy, tell the salesperson you’re uncomfortable and get up to leave. This will save you from being intimated into making a deal that you need to sleep on.

Save money, time, effort and stress by avoiding these car-buying blunders. It’s important to do your own research and know your budget before making a decision on car.