Buying a car can be one of the most important decisions you can make, after all, this is a vehicle that you will be driving around for many years to come. There are many factors you need to keep in mind, including your payment options, whether you should buy new or used, and which dealership you should visit. But as much as there is to learn, there is also many car buying decisions that you should avoid. If you are looking for more assistance, check out this list of the top 5 worst car buying mistakes.
1. Not Doing Any Research
It is essential that you do some research before walking out onto that car lot. At a minimum, check out websites like Carfax.com and Edmunds.com and read some reviews about the car you plan to buy. This way, you will be able to determine if your car salesman is being truthful.
2. Being Tricked By Low Monthly Payments
A common car selling trick is to make an extraordinarily high selling price look smaller by promising relatively low monthly payments. The problem is, most of these low payments continue for up to five years and you end up paying thousands more in interest. This is another reason to research your options ahead of time.
3. Not Buying Used
To many people, the lure of buying a brand new car may seem like the best way to go, but you are really asking for more of a headache. Negatives that come along with a new car include a high payment, a quick depreciation rate, and a used car often comes with a better warranty.
4. Forgetting to Do a Test Drive
Whether you are buying new or used, it is imperative that you take your potential car for at least a short test drive. After all, how else are you supposed to know if you will enjoy its operation and handling? If you fail to test drive, you have absolutely no reason to complain if the car isn't what you hoped it would be.
5. Shopping at only one dealership
Buying a car is an immensely important decision so you should do your homework and shop around before you commit. When you go to different dealerships, you get to deal with different types of salesmen who will try to get you different types of deals. Plus, you might even see a car or a color that you didn't even know what you wanted in the first place.
Have any other accidents to avoid? Sound off in the comments section!