Four Mistakes to Avoid When Buying Your First Car

Purchasing a new car is always a big deal, as it’s probably one of the most significant financial decisions you’ll ever have to make. The last thing you want to do is make mistakes that’ll cost you even more; making the necessary preparations before dashing off to the car dealership will help you avoid getting yourself into a bad situation. Are you ready to buy your first car? Congratulations! Now let’s take a look at the common mistakes to avoid.

1. Failing to do proper research

Do not rely on everything you see on TV commercials, as you may not know what your full purchasing options are if you do not take the time to do your research. For example, when it comes to your first car, the age-old question of whether you need to buy a new one or look for used cars needs to be adequately answered. If you walk to the dealership or step into a car lot without knowing what you want, you may end up wasting a lot of time being overwhelmed by the options available, and this could cause you to buy a car you may not be ready for.

2. Not being ready enough to negotiate

Good negotiation skills are essential for driving away with a good car deal. Fortunately, most car prices are negotiable, and the sticker prices you’ll find are not necessarily the final prices. How much you can bargain on a car depends on the vehicle itself – the invoice amount, mileage, faults, size, etc. Again, this means that you’ll have to do your research first. If negotiation skills are not your most potent gift, take an experienced person you trust along to do that for you.

3. Walking into a monthly payment option

One mistake most first-time car buyers make is accepting monthly payment options for their cars. Most dealers can trick new buyers into walking into monthly payment options by simply tinkering a little with the payment terms and conditions. Owning a vehicle on a lease may feel easier on the pocket initially, but it comes with several disadvantages; one of the main drawbacks is the toll it has on your budget. Be sure of the payment plan you are willing to settle on before you go in to get your car; that way, you will not be easily tricked.

4. Buying extras from dealers

One of the rich sources of profits for car dealers is from the vehicle options and accessories they can sell. Even after negotiating your way to buying your car, a typical dealer will try to entice you with extras you don’t need. These include things like pre-paid maintenance, extended warranties, wheel and rim insurance, paint protection, fabric protection, or different kinds of car accessories. Most of these offers are not only unnecessary but also usually cost more than they should. Therefore, it’s important to focus solely on purchasing your car and driving away. If you need other accessories, take enough time to do your research and compare the prices available. 

Hopefully, these tips will help make your car buying journey an even more fulfilling one!