You just got promoted at work, but now you have to spend more time on the road. You have to get a car, but you don’t know where to start.
Well, it doesn’t matter if you’re purchasing your first vehicle or your fifth, buying a car is a huge deal. It’s considered, by various sales experts, that it’s among the top three most significant purchases you’ll ever make in your lifetime. Thus you need to be careful with your consideration. With the various options available, you might get lost in all the car jargon and information.
Lucky for you, here’s a comprehensive guide to help you understand the mistakes to avoid when purchasing a car.
The Most Significant Mistakes to Avoid When Buying a Vehicle
The promise of the number of vehicle models on the market together with the pressure of keeping up with the Kardashians and Joneses while still trying to balance your budget can be downright daunting.
Therefore, what are the mistakes to avoid so that you can successfully navigate through for potential tire kickers?
Focusing Too Much On Price
You can be too focused on how to make the down payment1 and the monthly instalments required and forget about all the other costs required when purchasing a car. Yes, it’s essential to know the amount you’ll be paying in the long run, but you can’t base how much you can afford entirely on your repayments2.
Therefore, you need to ensure that you’re aware of the prospective extras like the balloon payments where you end up paying a substantial amount at the end of the financial term. They might look like a potential solution to your monetary issues, but in the end, if you don’t have the full amount, you’ll end up with more debt.
Skipping on the Test Drive
You might have nearly broken the bank by getting that German SUV but just because you did your homework and uncovered the specs of the vehicle doesn’t mean it’s your perfect match. There are several aspects of a car that you can’t see at face value, and thus you need to ensure you take it out for a test drive to find any potential issues.
When you drive the vehicle, you’ll get first-hand information on how the car’s brakes, clutch and gears work. You might also figure out how the computer and electronic systems work. If any unexpected issues crop up, you can have the car dealership4 fix the problems before you take it home or you can also opt to walk away and find another low down payments car dealership to help you get your ideal vehicle.
Only Looking for Vehicles within Your City
While it seems logical to only look for vehicles within your town or city, extending your search will increase the likelihood of getting a great deal. Moreover, if you live in cities where vehicle expenses are known to be higher, by extending your search can help you get a better deal. According to most auto experts, Gauteng, Western Cape and KwaZulu-Natal offer you the cheapest car deals and car insurance premiums while the North West, Northern Cape and Limpopo are the most expensive5. The leading cause for this inconsistency is because the larger provinces offer you more stocks and dealerships – when these car dealerships compete against each other, the costs, typically decrease.
Forgetting to Negotiate
As per various studies, negotiating on a lower price or more incredible deal on a vehicle is always probable. If you get the car you’ve always wanted, but it’s not within your set budget, or it requires new tires or air conditioner, then you have to ensure that you consider negotiating. You’ll get a less expensive deal and a vehicle that will suit all your needs perfectly.
Buying a vehicle should be the most memorable experience and not one filled with stress and remorse. One of the most incredible ways to avoid the hassles and buyer’s remorse is to be patient and also ensure you conduct your research both online and through a trusted source. With enough knowledge and a quick spin around your town in your potential vehicle, you’ll make the best decision and enjoy driving to work and running your errands.
Once you found the right vehicle for you, it might be useful to remember how to proceed for a pothole damage claim.