Common Mistakes to Avoid When Buying a Car

car-220209_960_720Thinking of buying a new car? It is no surprise that you have a lot of pondering to do. And it is rightfully so! A car is one of the most prized possessions that you own with immense pride. The hunt for the new car begins with online search and comparison. You try to get as much information as possible about the latest models and their features. Next, you take the advice of every person you come across, right from your colleague to your hairdresser, and compare them all. You leave no stone unturned!

Considering the aforementioned, it can be concluded that you can use all the help available to make the right choice for your next dream car. More the merrier is the verdict! That said, there are certain mistakes that people make in this regard. In order to ensure you don’t fall prey to them, here is a compiled list of the don’ts.

  • Skipping the test drive

Car experts say it is a must to test drive the car before buying. And it is rightfully so. With the help of a test drive, you get the actual ‘feel’ of the car such as the interior space, driving comfort, boot space, suspension, pickup and so on. In order to make sure you don’t regret after buying the car, don’t skip the test drive!

  • Not researching enough

As said earlier, it is always advisable to leave no stone unturned in the research before buying. Thankfully, the major chunk of the research can be done online that makes the job a lot easier these days. There are a lot of websites that are available that provide in-depth, side-by-side comparison of various car features.

  • Trade-in mistakes

When you are trading your old car with a car dealership, it is crucial to do research on your own pertaining to the market value of the car. Many people tend to blindly accept the price the car dealer is offering. Getting a better price for an old car by selling it to a third party is a possibility you can’t afford to neglect.
Quick Tip: If your car needs upgrades such as new tyres, battery or a wiper, it is best to refrain from putting your money into it. It won’t increase your car value by much.

  • Not comparing quotes

When it comes to buying stuff and shopping around, the comparison is helpful to get the best deal. It is no different with cars. Simply put, make sure to check out the price quotations of at least three car dealerships before buying. The best part is you can do this online as well.
Quick Tip: When you are ready for the purchase, let the dealer know that you are keeping your options open. It will help you to get a good deal.

  • Availing Financing from the dealership without much thought

This is a very common mistake people commit often when they intend to buy the car on a loan. This can prove costly since chances are you won’t be getting a fair deal and end up paying more. It is quite obvious that car dealerships and franchises have a tie–up with banks and financial institutions because of which they promote the loan option they have an agreement with. As is the case with comparing car quotes, shopping around and comparing loans from multiple banks with respect to down payment, interest rates and so on helps immensely. Additionally, you can also get a better deal in terms of loan eligibility and other associated perks.
Quick tip: Get a pre-approved car loan before going to the car dealer. This way, you will be in a better position to gauge the affordability and get an idea if the deal being offered is good or not.

In addition to the above, it is essential to get a comprehensive car insurance policy too. Nowadays, it is very easy to buy car insurance online. Motor insurance is the protection that every car needs to save you from an unforeseen financial setback.

If you have any questions, please ask below!