Mistakes One Should Avoid on Purchasing Car
There is a lot of information available on the internet today for the car shoppers whether you are looking to buy a new car or the used one. All of them research on some mandate information like what type and brand of the car you want? Budget that is likely to spend on it, chances of obtaining car finance, searching good interest on auto loans and technical aspects of different versions of car in different brands In spite having this well researched information handy, many car buyers are making common mistakes that is costing them money. The current article throws some insights on some common car shopping mistakes by buyers.
Undeniable fact is that buying a car is emotional than rational decision for many. In some instances the buyer will be curious to replace his old set wheels with the new ones or it becomes imperative for him to buy the new one because the old one has conked out. In hurry to bring the new car home, the buyer is committing these common mistakes that are costing him money.
Get attracted by deal
Deals are attractive shoots by the seller to increase their sales number. Buyer who just merely looks at these discounted deals while purchasing the car is committing a big clanger. They are just looking at the last negotiation price which does not take taxes into consideration. In most of the countries, these taxes on the luxury item add thousands of dollars to final cost. When the buyer feels that they are too committed, they end up in exceeding their fixed budget for car.
Buried in- car loan
Buyers tend to buy the car with low or zero down payments to hold some money in their pockets. This mistake is ultimately pushing them to pay high interest rates and long loan tenures. With high monthly installments, one will not dare to plan a bigger purchase in near time till the car loan is done. To avoid these pitfalls, one should complete auto loan with large down payments.
Negotiate add-on too
People just sit relaxed once the deal price of car is finalized. Many don’t focus on add- on expenses like warranties, interest rates and insurance. Remember, dealership makes money after sale which is inclusive of these prices, stay hard on negotiation of extras once the initial price is set which in turn reduces your car finances.
No Impulse purchase
People get carried away either with the excitement to own a new car or get carried away with the sales pitch that this is best deal that lasts for today. There is no such magic day that closes your deal. The seller may come down further and offer you the best deal if he feels that you are negotiating hard. Take a buying decision in less pressured environment.
Focus on monthly repayment
Budget shopping always adds comfort to your pocket. Though you have strict budget lines while purchasing the car, don’t let the sale person know your monthly repayment budget. When you slip your target number, the sales person will come up with the deal that matches your figure and you will miss the focus on aspects like term of car loan and value of trade.