Common Car Buying Mistakes To Avoid

Here are a few of the most common car buying mistakes that people of all shapes and sized make every day… even though they may seem like common sense, I would see these all the time when people go into the car buying mode.

1. Lack of research and homework when it comes to their car buying possibilities and options. Really no excuse in today’s Internet world. I mean really… why would you want to get your car product knowledge by quizzing the very sales person who is trying to sell you the car??? You wouldn’t.

2. I mentioned the Internet… the car pricing and car buying tools on the web are bountiful… you can get new car prices, used car prices, car insurance quotes, you can determine the value of your trade, you can check your credit score, apply for new car financing, check on auto extended warranties, I mean right here, I’ve given you links to free online services to get all the information that you’ll need… so no excuses… you’re online right?

3. This one really baffles me… but I saw all the time… not taking a test drive… jeeeeez… I can’t write anymore on this one… test drive the car.

4. Using a leasing option to afford more car than you can really afford. Depending upon the interest rates and the economy the popularity of leasing comes and goes, but just like purchasing, you must know your budget and the pro’s and con’s of leasing a car.

5. Spending too much time comparing prices… yep that’s right… but let me finish… too much time comparing car prices and not enough time researching the makes and models… let’s face it… a good deal on a bad car is not a good deal.

6. Assuming that the dealer financing department is going to get you the best possible rate. Huh? If you think that’s the case, you really need to visit my website and read through the dealer financing section… the financing department for a car dealer can be a very tidy profit center.

7. Buying the wrong car for the right color… Oh we as humans… I never did figure out such particular people as to get into the wrong car because it was the right color… especially true with younger females… sorry gals.

8. Not preparing their trade-in for evaluation. A big percentage of people overlook this dollar saver. Everyone is human, even the used car manager (believe it or not), and if think a well dressed trade-in doesn’t get you any more money than one that looks like its been road hard and put away wet… then you’re burning money.

9. Buying those dealer add-on’s. Big markup… most of which goes to the sales person who got you to buy these things in the form of a cash spiff.

10. For those of you who fancy yourself a grizzled veteran of car buying and therefore don’t need to do all that boring car buying research… this can be a big mistake… the car business is extremely dynamic with manufacturers’ rebates and incentives always changing, financing institutions getting creative with their programs and terms and such… if you want to get your best car deal, then come prepared.

11. Giving up all your hard work in car buying process that saved you a bunch of money by ultimately buying a car that has a high cost of ownership factor… remember it’s not just price of the car that is ultimately the cost of the car.

Easy Car Buying Checklist

Here’s a quick reality check(list) when car buying.

Each car buying tip could certainly be expanded upon (and you should before you head out to buy your next car) but for our purposes here, I just want to give you a bit of mind jog to get you started on what you need to consider when car buying.

First… forget the car and take a look at your finances and your budget. You need to crunch the budget numbers with brutal honesty to determine what you can truly afford (not necessarily the same as what you want).

While we’re on the topic of finances, be sure to know what your credit score is… and not only that… check your credit report for mistakes and inaccuracies. If you discover them, get them fixed before you starting looking for a new car loan.

After you’ve completed the financial leg of the upfront research, spend some time doing some online car research on what’s available that fits well within your budget… this is valuable time well spent before you go to the car dealer… this alone could save you thousands.

Narrow your online car price research down to a short list and don’t waste your time looking over vehicles that don’t fit your needs or your pocket book. Plus, by doing this you’ll ultimately work more efficiently once you’re on the car lot and this will save you time and frustration during a lengthy process.

Once you’re working off your short list, you can really start crunching the car buying numbers and prices and ultimately begin to look at some new car financing options… now days there are some very good new car financing options online where you can get a good feel for what type of interest rate you’re going to be looking at.

Once you’ve got all these numbers together, now it’s time to take a hard look at the overall cost of ownership of the cars that have made your list of possibilities. Along with getting the pricing of a new car, you’ll want to make sure you find out about what the cost of your car insurance is going to be… so go ahead and get an insurance quote from a local provider. Also, estimate what your annual cost of gas is going to be, as well as, look up the general repair and maintenance of the that particular model.

Now and only now do you want to venture off the car dealer.

Once there the key is to take your time and don’t be rushed. In fact, you should put all of your car quote research into a nicely organized folder and take that to the car dealer with you when car buying. Don’t rely on memory.

Preparation is the key to success when it comes to having a favorable experience when car buying… so be prepared and enjoy your new ride.