If you’re about to go out and buy yourself a new car, whether it be used, nearly new, or brand new, then you’re going to need to be vigilant. You’re going to need to make sure you’ve got your thinking cap on, which’ll help you spot a trap before you willingly let yourself fall into it. After all, dealers want to make money, and they want to use you to make that money; they’re going to go all out to convince you that they’re your best vehicle option!
So with that in mind, here’s some of the worst (and most common) traps someone can fall into when it comes to buying a car. Don’t let yourself be part of these kinds of statistics.
Not Knowing Your Budget
The budget you’re working with is the most important detail in buying yourself a car, but have you properly considered it? You’ve looked over the auto loan options, but you haven’t quite decided on one yet, and you know you’re capable of managing some monthly payments. But do you have an actual figure, and an actual length of time you’re going to be paying for?
If you don’t, it’s going to be very easy to fall into unnecessary debt here. The dealers themselves will be happy to finance you, but you probably won’t be able to meet their interest rates. Which is why it’d be better for you to get pre-approved for a loan, so you can walk in with your head held high, and your cash safe in hand.
Not Looking for a Deal
Always look for a sale, and know what a good sale looks like. Never let yourself plump for the first vehicle you see in the first dealership you visit! Make sure you shop via the internet as well. Sites such as Excel Motors might have the right options for you, and you can immediately input what you’re looking for into their search meters.
That’ll save you from having to actually go on down to a shop or a dealership, and have to put up with the sales tactics we often just grin and bare through.
Not Comparing Your Vehicle
If you’re buying new, especially. So you need (or you want!) a new car, and you’ve got the finance options and the trade in value from your old vehicle on your side – you can go all out in ordering the model you want and adding all the right specs and tech to it. But in all the excitement, you forgot to stop and check yourself – are you buying from the right dealer? And can you look around for the same make and model from different sources, to see if you can get a better price?
There’s a lot of traps in the car market, so make sure you know the obvious ones above. Too many people don’t!