Given how much money is at stake in the average car purchase, there’s little wonder as to why so many of us approach such transactions with caution. Additionally, while it can’t be denied that buying a new car represents a costly undertaking, certain missteps stand to increase the financial burden associated with purchasing a new vehicle. Fortunately, taking the time to educate yourself on these missteps can help ensure that you don’t fall victim to them the next time you find yourself in need of a car. So, if you’ll soon be in the market for a new vehicle, be mindful of the following blunders.
Doing Business with Untrustworthy Dealerships
While some automotive dealerships will provide you with a tremendous amount of individual attention and work with you in finding a vehicle that’s perfectly suited to your needs, others will prove nowhere near as accommodating. As far as dealerships that fall into the latter category are concerned, your satisfaction is no longer their concern once you’ve driven off the lot. Additionally, if anything goes wrong with your new vehicle, such dealerships are liable to fight tooth and nail to avoid taking responsibility.
You can significantly reduce your risk of doing business with untrustworthy dealerships by doing a little bit of online research in advance of purchasing your next vehicle. Thanks to the growing plethora of apps, websites and message boards dedicated to consumer feedback, getting the lowdown on local dealerships is unlikely to prove challenging. Taking some time to vet the dealerships in your area stands to save you a tremendous amount of time, money and hassle down the line, so no matter how eager you are to get behind the wheel of a new car, don’t skip this important step. Phoenix residents in search of a good Chevy dealer in Scottsdale should have a very easy time of it.
Committing to Unmanageable Financing Options
Many of us have no choice but to take out loans in order to afford new vehicles. However, before committing to a car loan, it’s imperative that you fully understand the terms of the agreement. Committing to a financing arrangement that you’re unable to comfortably afford is liable to damage your credit and may ultimately result in the repossession of your vehicle. So, rather than simply accept the first financing option you’re presented with, take some time to review the various loan agreements for which you’re eligible.
Failing to Consider the Cost of Insurance
Once your new vehicle has been driven off the lot, your financial obligations to this car are far from over. Not only are fuel and maintenance costs likely to put a hole in your finances, you’ll also need to insure the vehicle. Unfortunately, many car buyers fail to take auto insurance costs into account when selecting their next vehicles. Needless to say, this can result in an unpleasant surprise when it comes time to start reviewing insurance rates. So, once you’ve narrowed down your vehicle options, take care to research insurance prices for all the cars you’re considering.
Ruling Out Buying Used
While it’s no secret that automobiles are expensive, brand-new cars can be particularly pricey. Although budget models are certainly out there, most new vehicles will easily run you tens of thousands of dollars. And while going the pre-owned route stands to save you a considerable sum, some car buyers simply won’t hear of it.
There’s no denying that some used cars are lemons, but a certified pre-owned vehicle from a highly-rated dealership is liable to provide you with just as much reliability as a new car. Additionally, being open to buying used will expand your vehicle options by quite a bit. As an added bonus, used cars are often cheaper to insure than new vehicles.
There’s no denying that a new car is a big-ticket purchase. With the majority of new vehicles retailing for tens of thousands of dollars, it’s only natural that so many of us are hesitant to replace our current cars, even if they’ve seen better days. To make matters worse, car buyers tend to make a number of missteps that inadvertently serve to make automobile purchases even pricier. In the interest of saving yourself from further financial burden, steer clear of the behaviors discussed above.