9 Worst Car Buying Mistakes To Avoid When Buying a Car – There are some worst car-buying mistakes you must not make when you want to purchase your new or used car. Getting a vehicle is one of the most expensive purchases ever. No doubt, buying a car is meant to be an exciting adventure, but if some errors are made, your car-buying experience might turn into one that breaks your heart.
A recent study reported that 87% of Americans have the worst car-buying experiences at dealerships due to ignorance. Therefore, it is essential to be smart and alert whenever you want to get a car. From selecting the right car to finding the best deal, there are many possibilities that you can make car-buying mistakes that could leave you with a bad experience and even cost you additional money.
In light of this, in this article are nine common mistakes to avoid when buying a new car. Read to the end to learn what not to do to pursue a new car.
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9 Worst Car Buying Mistakes To Avoid When Buying a Car
1. Not Comparing Prices
This is one of the 9 Worst Car Buying Mistakes To Avoid When Buying a Car many people make. It is funny that many car buyers start and stop their shopping at just a dealership store. The thing is, car dealers can set their car prices so that they might hike prices at their will.
Alternatively, instead of sticking to a dealer, take your time to shop around when you have found the car of your choice. Look at the bottom line prices at various stores around you and online. Ensure that you are comparing everything needed to consider ranging from models, trim, and extras.
When you find the best price, you can purchase from the store. Also, consider dealers that offer discounts at the time of your purchase. This will help you save money and stress.
2. Disregarding the Trade-In Value
To avoid used car buying mistakes, you need to do thorough research. If you are planning to trade your old car, there is a need for you to take time to research the value of your car’s trade-in value. This will put you in a stronger position when trading your car, as you can sell at a sweet price. However, if you jump into selling, you might not get as much as you should. You can follow these few steps to make better sales;
- Look up the value of your car using a pricing resource like Kelley Blue Book or Edmunds, then adjust it for the condition, features, and mileage. To determine the ‘asking price’ in your location, search automotive classifieds like AutoTrader.
- Get bids from sources that buy used cars, such as CarMax or Carvana. Remember that these costs could alter once your car has been thoroughly inspected.
- See if the dealer can undercut the price you did your homework on or the online quotations you obtained for your trade-in after you’ve agreed on the price for your new vehicle. Then, sell your automobile to the person who offers the most excellent price if it won’t match it, and use the proceeds to put a down payment on a new car.
Note that a trade-in might reduce the sales tax you will pay on your new car, depending on your location and the state you live in.
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3. Not Shopping for a Loan
This is one of the things to avoid when buying a new car. Unfortunately, most car buyers make the mistake of not shopping for auto loans that can help with their car purchases. This is why it is easy for you to let the dealers do the work for you. Once you select the car you want, they will have it sent to the finance office. There, you will be given the loan you need for the vehicle. Easy, right?
Yes, but this will cost you thousands of dollars at the end of the day. Nonetheless, if you want to save money on your car, take your time to find the best auto loan to opt for. Each bank and lender offers its loan packages and interest rates based on various variables.
Spend some time speaking with a few potential lenders to get an interest rate that will save you money throughout the loan. This will help you get your dream car faster in your garage. Ensure you don’t make these mistakes when buying a car. Save time and money!
4. Focusing on Monthly Payments–9 Worst Car Buying Mistakes To Avoid When Buying a Car
Although it is nice to approach a dealer to help with a car purchase, it can be dangerous. For example, it is a common trick among car dealers to get you to focus on monthly payments. When they achieve that, they could easily add additional insurance packages and other expenses you might not want. This is one of the 9 Worst Car Buying Mistakes To Avoid When Buying a Car
Dealers do this because, often, these additional packages earn them bigger money than the vehicles they sell. Therefore, as much as you concentrate on your monthly car payment, ensure to find out the total cost of add-on products added to your bills.
5. Not having a Budget
This is among the worst car-buying mistakes you can ever make. However, car mistakes like that are unforgivable. This is because you need to understand how much you can afford before starting your car-buying journey. Your budget lets you know what to buy and what not to buy. Therefore, you must create a monthly household budget if you will pay monthly. While doing this, ensure to include all your income and outgo.
6. Rushing Through The Process
If you want to get the car of your dreams at the best rate, this is one of the car buying mistakes you to avoid. Buying a car is a process. It requires deep research and shopping to avoid making car mistakes that would have a considerable impact in the long run. As a result, ensure you take your time and do all you need to do at the right time and with the right vendors.
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7. Buying the Wrong Car
If you are the; ‘i just want a fine, clean car,’ sorry because if beauty is the only thing you focus on, you are making one of the worst car buying mistakes ever. The beauty of a car is one of the least you should be concerned about. Although it is nice and sweet to have a nice-looking car, you don’t have to ignore the essentialities.
While shopping for a car, you need to answer several questions like; Do you love long road trips? Do you have or plan to have a big family? Do you stay in an area with smooth or rough roads? These are some of the answers that would shape your car buying decisions. Your lifestyle is what determines the car or vehicle you need.
Therefore, spend time listing your purpose for buying a new or used car. Highlight how you would like to use it, the styles you want, the size, and the features that you would like to look out for. This will save you from making avoidable car mistakes. Aside from that, you will be able to get a car that is within your range and as well your desire.
8. Buying Under Pressure
This is also part of the 9 Worst Car Buying Mistakes To Avoid When Buying a Car. At no point should you feel pressured when making a choice. This will help you avoid mistakes when buying a car and also help you make the right choices. Allow yourself plenty of time to find and buy the right car.
With adequate patience, you are more likely to make good decisions based on budgeting, research, and rationality. Salespeople would pressure you to buy what they want you to buy. It is up to you to follow their choice or go for what you have always wanted.
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9. Not Planning for Insurance
Getting a new car can be enticing and fun, but if you do not have plans to insure your car, you are making one of the worst car-buying mistakes. This is because to guarantee is to be secured. As a result, you have to include insurance in your plans so that any future emergencies can be sorted out.
Frequently Asked Questions
What not to pay when buying a new car?
Most car dealers are always after their margins which makes them often attach unnecessary fees to the prices of cars. However, if you are wondering about what not to pay when buying a new car, the following are some fees you should ignore; Destination fees, also known as freight charges, dealer preparation fees, registration fees, etc
Why are car dealerships the worst?
One of the major reasons car dealerships are the worst is that they can add thousands of dollars to the price of your car. In addition, they add unnecessary add-ons and fees that might not be relevant.
Which cars are the most overpriced?
Jeep Wrangler, Jeep Wrangler, Lexus RX 450h, Cadillac CT5, and Porshe Cayenne, to mention but a few, are some of the most overpriced cars.
What car has the worst resale value?
According to Motortrend, Oddballs and Luxury Barges are part of the cars with the worst resale value.
Which car is the worst car to buy in 2021?
In a recent report by Consumer Reports, it was reported that Subaru Ascent, Tesla Model S, Ford Ecosport, and Volkswagen Atlas were part of the worst car to buy in 2021. This is major because they are less reliable and inefficient than their counterparts.
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Why is car buying so stressful?
Car buying is stressful because buying a perfect car requires research and a lot of shopping around. However, to avoid stress, you can approach a car dealer to make your purchase easier and avoid car-buying mistakes.
What are the ten worst cars to buy?
According to consumer reports, the ten worst cars to buy include the Ford EcoSport, Chevrolet Trax, Infinite Q50, Nissan Rogie Sport, Infinite QX50, and many more.
What’s the worst time to buy a car?
Experts suggest that the worst time to buy a car is when there are peak trade-in and sales levels, like during the tax refund season. As a result, car prices are always high and a non-negotiable deal during this time.
Can you sue for buying a bad car?
If a dealer intentionally sells you a bad car and you can prove it is, then you can sue the dealership for fraud.
What cars have the worst reliability?
Among the cars with the worst reliability include Jaguar I-Pace, Audi A6, Peugeot 3008, and Mercedes A-class, to mention but a few.