The Most Common Car Buying Mistakes (part 2)
Buying a new car is not an easy task to do; you have already guessed it after reading our previous article. Now, we will continue on the common car buying mistakes. Let’s see what come further.
- Skipping the negotiations
One common car buying mistake on the part of the buyer is skipping the negotiations. Very often after hearing the car price, the potential buyers rush to buy the vehicle without even trying to negotiate. A smart buyer instead would calculate about 5% of the car price (this is the amount the dealer makes a profit from) and would try to negotiate the price of the car with that amount as base.
- Concentrating on the monthly payment rather than the price
When buying a new car people are sometimes so attracted by the low monthly payments that they fall to different scams practiced by the auto dealer. Thus, one of the most common car buying mistakes is concentrating on the low monthly payment instead of looking at the car price which is usually rather high. Usually, payment buyers have to pay the monthly payments for years (4-5 years), because of the very high car price.
- Buying a new car because of the add-ons and accessories offered
Another common car buying mistake is buying the car just because there are lots of add-ons and accessories attached to it. Usually, extended warranties are also advertised by the dealer. The salesperson is sure to tell you long speeches about the importance of those add-ons. Do not fall for this. Add-ons are just add-ons, you can buy them separately any time you need.
- Financing a car without knowing their credit score
This is the most common car buying mistake. People lose thousands of dollars just because they did not know their real credit scores. In order not to become a victim of auto dealer fraud, you had better find out your credit score yourself and not ask the dealership’s finance manager for that. Also, surf in the web and find out how much credit score you need to buy a certain car. Sometimes, people have a sufficient credit score but they are cheated just because they did not know whether it was enough or not.
These were the most common car buying mistakes people make when buying a new car. If you know others, share your ideas in the comments’ section.