Liviu Marcus
In the first car buying experience, everyone has a story to share. Generally, the first car-buying encounter starts with days and weeks of searching for the right selection and evaluating the best offer across various showrooms, leaving one perplexed by endless specs. Many offers and proposals would make you crazy.
Not only are you anxious about finding that perfect vehicle in your price range, but once you drive off the lot, you can’t help but wonder if you made the right decision and should have done better. Even though it might be an overstatement that the whole car by experience is life-changing, it is difficult to escape a beginner’s mistake in buying the first car.
This is an experience that even the most experienced car buyers have had to go through once. But first-time car buyers now have the chance to learn how to avoid such mistakes during their car buying process due to these stories.
Mistake #1: Going shopping without doing enough research
When it comes to shopping for your first car, research is your savior. Given the different characteristics of different cars, it is vital to factor in research when trying to make the right decision. From color, price, and seating capacity to safety features, and fuel economy, you will need to do your homework thoroughly. If you do not know what each of the specs means, there is an abundance of online reviews, advice, and information that can offer you in-depth knowledge about car models.
Doing your homework also means knowing which car features you need and which will be extra. Moreover, based on your location, there could be dozens of car dealers within a few driving distances. But don’t just stop at the nearest dealer or the one recommended by your friends or someone you saw on social media. Take time to research the car you want to purchase and check whether the dealer can offer it at the best price.
Mistake #2: Either trusting every dealer or none at all
It is quite obvious for first-time car buyers to be vulnerable and tense about meeting car dealers. While some dealers may see your nervousness as a heads up to pick a financing option that’s more suitable for them than you, others may get the best financing even if you have a poor credit score.
Previously, dealers used to offer fewer financing options, but the market growth has made it all possible. So whom to trust and whom not? All you need to do is do your research about financing options for first-time car buyers and trust your instincts. If you feel you are being coerced into purchasing extra services, look elsewhere.
Mistake #3: Thinking new is better
After you have done your research and learned the type of car you would like to purchase, you need to choose whether you want to buy a new car or a used car. Though you may be attracted to buying a new vehicle, there are many disadvantages to buying a new one at once. First of all, the price of used cars is quite lower compared to new ones meaning finance is less of a worry. A used car comes as a great option for people whose credit history does not enable the finance amount the car needs.
The demand for used cars is increasing every day and there are many online market places like Facebook marketplace or Craigslist that will link you to private sellers. However, buyers are advised to visit the dealers. Not only do they get professional car valuation but they also discuss car financing and extended warranty coverage that private sellers do not provide.
Mistake #4: Fixating on monthly payments and ignoring the purchase price
When the research is over and you determine the specific car model you want, the question is whether to buy a new car or a used one. Despite your burning desire to purchase a new car, nonetheless, there are a lot of demerits of acquiring a new car from the ofset. First, used cars are cheaper than new ones and as a result, you may write off the finance. It is the person who has bad credit score and the car is not accommodated by it in terms of the amount of money it costs that is the best person to buy a used car.
The used-car market is expanding every day, and there are multiple online platforms, including the Facebook market and Craigslist, that can link you to private sellers. Nevertheless, buyers should go to the dealers. They will not only get a high quality car assessment but can also discuss car financing alternatives and extended warranty coverage that private sellers may not provide.
First-time car buyers should know this
Apart from monthly payments and purchase prices, first-time car buyers also need to consider car insurance to protect their wallets from the costs of accidents. Some coverages are legally required, so you need to evaluate your needs and compare prices to receive the best rates and policy plans. Whether you need just liability insurance coverage or want to get collision and comprehensive coverage, digital choices such as Lemonade car insurance make it simple to get your answers online before you buy. From unfortunate fire damage and vandalism to theft and medical bills, car insurance makes any incidents manageable, affordable, and efficient.
Mistake #5: Not taking the car out for a test drive
You may have done thorough research, put efforts into comparing prices and dealer offers, but if you cut short the test drive, you may be regretful later. First-time car buyers shouldn’t make that choice based on some reviews and rely solely on their sight.
Test drives are the best way to know whether the chosen car is perfect for you or not. Most first-time car buyers assume that all new cars are bound to run smooth so skipping the test drive altogether would not hurt much. Avoid this mistake at all costs and take out the car outlet for a spin to test its performance on the road.
You, as a first time car buyer need to know when to hold and when to go all in. The way you handle your first car buying experience really influences how you feel about maintaining it. Nevertheless, make sure that you steer clear of the said first-time car buying mistake so that you can have a good first-time buying experience.
