Aside from your house, your car is one of your most expensive investments. Hence, you should make sure that you’re going to consider several factors first. Here are the most common mistakes that you should avoid when investing in a car for the first time.
- Letting your emotions decide
It’s perfectly fine to fall in love with a new model the moment you laid eyes on it. But that doesn’t mean that you’re going to buy it the second you checked it out. Falling in love with a vehicle will make you overlook other models that are more suitable for your needs and budget. Even the safety, pricing, and reviews of the are often ignored because they tend to focus on the appearance of the car. Therefore, when it comes to buying a car, you should not let your emotions decide and set it aside for a while so that you will be able to make a more practical decision.
- Not test driving the vehicle
Skipping the test drive is a recipe for a buyer remorse. A test drive will let you know how it feels like driving a vehicle like this. It is your chance to see if you are comfortable using this car especially if you are planning to use it for school or work. As much as possible, you should spend at least 30 minutes in driving the car and get a full drive test before you make any decision. A professional car dealer will tell you to test drive the vehicle himself. That is an indication that he is genuine in helping you to find the right car for you. Should the car dealer himself discourages you from test driving the vehicle, it should be considered as a warning sign that he is only after your money and couldn’t care less about the car buyer who will have to deal with any undiscovered issues later on after the car had been bought.
- Overlooking other related costs
The most salesperson can trick you into asking “What is the amount that you are willing to pay the monthly bill?” and you end up buying the car without realizing that you just overpaid. Do not overlook other related costs in purchasing the vehicle such as the financing costs, leasing, and trade-in costs. When you’re discussing it, never bring up your desired lease unless you have finally agreed on the price of the car.
- Not prioritizing the safety features
Another thing that you should remember when you are going to buy a car is the safety features that it can offer. Do not underestimate the value of modern safety features such as anti-lock brake systems, head-protecting side airbags, and electronic stability control system. It’s a great investment especially if you can have it at a reasonable price.
Also, keep in mind that buying extras will only waste your money and increase the profit of the salesperson. Hence, if you are offered with various paint protectors, fabric protection, and rust proofing products, kindly decline and focus on what you need instead of what can make your car looked fancy and expensive.
There you go. Make sure that you’re going to avoid the aforementioned common mistakes when you are choosing the car to buy. Avoiding these mistakes can help you in making a good decision and avoid costly mistakes. Take as much time as you want because car investment is similar to a property investment. Once you’ve made a mistake, you are going to deal with it for the rest of the time.