3 Mistakes to Avoid When Buying a New Car

3 Mistakes to Avoid When Buying a New Car

14 May 2019
 Categories: , Blog

Whether you are buying your first new vehicle or you are looking to upgrade, taking the purchase of a new vehicle seriously is important. Not only is this purchase a large financial decision, but buying a new car is important for ensuring you have reliable transportation for many years to come. If you are in the market for a new car for sale, here are a few mistakes to avoid.

Not Researching the Makes/Models

Because there are so many makes and models on the market, buying a new vehicle is not going to be an easy decision. It is crucial to spend time researching the different makes and models to first determine what style of vehicle you want and need.

For example, a compact car may seem ideal because of its fuel efficiency and cost. However, these smaller vehicles may not have the space you and your family need. On the other hand, a large SUV may be over your budget. Therefore, you will need to search for makes and models that offer the space you need without the excess cost.

Do not wait to go to a dealership to start your research either. Spend time browsing the different makes and models online before you decide what dealership to visit.

Not Test-Driving the Vehicle

Once you determine the make and model you prefer, you still need to drive it before making your final decision. Even if you love the style and the price works within your budget, the vehicle may not handle or operate in a way that you prefer. Test-driving the vehicle will ensure that it runs well, but that it also can be driven comfortably by you.

Before test-driving, spend a few minutes adjusting your seats and mirrors. Some makes and models also have the option of adjusting the steering wheel and pedals. No matter how long it can take, make sure you can sit comfortably and safely in the vehicle before driving it off the lot on the test drive.

Not Understanding Financing Options

Many people are able to pay for a vehicle in cash. However, paying cash for a new vehicle is not so simple. Financing helps you purchase the vehicle over time by making monthly payments, but without proper understanding, financing your new vehicle can be stressful.

The purchase price of the vehicle is important but focus on the interest rate quoted to you before signing on to a financing deal. This rate is based on a few factors including your credit score, credit history, income, and even the manufacturer of the vehicle. Be sure to ask about special deals offered by the manufacturer, which can help you finance the vehicle at a much lower rate, making your monthly payments more affordable.