13 Car Buying Mistakes to Avoid

It's time to buy a car and you are dreading the process. The following list of mistakes will help you avoid common pitfalls in the process.

Failing To Do Online Research

Research your vehicle online before showing up at a dealership. Knowing current market pricing, ratings, and reviews for the vehicle you are looking for will give you an advantage. Additionally, some dealerships have internet specials that you won’t be told about once you arrive.

Failing To Shop Around For Financing

Unless the dealer is offering a special rate, like zero percent financing, you may be better off using your bank or credit union. Shop around to ensure you are getting the best rate or offer available to you; otherwise you will be paying a lot more than you want to over the long haul.

Buying In A Hurry

Being without a car can be a real drag, but don’t let this need cause you to rush into a purchase you may regret later. Your parents were right when they told you there will always be another car. Take your time and really think about what you are doing. Make sure the car you are getting is the best deal and the best car for you.

Failing To Properly Test Drive The Vehicle

Taking a spin around the block isn’t going to cut it. Drive that car! Take it out on the highway. Don’t worry about how long it takes; really try it out and spend time in it. See if it is the fit you are looking for. Remember that some car problems may not be readily apparent and need some driving time to show up.

Failing To Get An Inspection By A Reliable Mechanic

A test drive can find some car problems, but some need a mechanic to be found. The cost of an inspection is worth the peace of mind you get when you buy with confidence. No one wants to have unexpected costly repairs on a newly purchased vehicle.

Buying New Instead of Used

Most everyone knows the moment your brand new car is driven off the lot, its value takes a nose dive. Do you really need a brand new car, or will a certified used car meet your needs? Often used cars can be found with so few miles they are better than buying new.

Using Your Car As A Trade In

Choosing to trade in your car may simplify things, but it may also cost you. Selling it yourself either through an ad, or to a dealer, often brings in more cash. If you do want to trade it in, don’t let the salesman know until after you have haggled with the price and have that deal in writing.

Failing To Find Out About Hidden Fees and Costs

Hidden fees and costs, such as a title search, can blow your budget. Ask about fees when negotiating the price.

Spending More Than You Had Budgeted

You set a budget for a reason, so stick to it. Even though you may be able to finance a more expensive car, there are other costs associated with the purchase that will also rise, like property tax, sales tax, and insurance.

Falling Prey To Feature Loading

Most buyers know what they want in a car from the bare basics to fully loaded. Don’t let the salesman up-sell you on features you don’t need and won’t use.

Failing To Buy The Right Car For Your Needs

You really need a minivan, but that Corvette you always wanted is on sale for about the same price. Don’t give in, you know what you need and what you came to buy.

Tailoring Your Purchase To The Payment

You have a set amount in mind that you have budgeted for a monthly payment, but don’t let that guide your purchase. It is more important to find the car that suites your needs. The final monthly payment may end up being lower than you expect, so don’t tell the salesman what your payment budget is.

Leasing Instead Of Buying

For a select few, leasing does make sense financially because they can deduct the cost from their taxes. However, for most it is not a great idea. You still need a big down payment and at the end of the lease you have nothing to show for it. Plus, you will have to start the car search all over again.