There's no question about it: buying your first car can be a scary and exciting experience. But before you go shopping for a car or set foot on a lot, make sure you’re well prepared. Do your homework ahead of time to avoid making costly mistakes.
Research shows almost 92% of car buyers spend their time online researching cars they’re interested in. They visit social media platforms like YouTube and car review websites to get an understanding of what they need before buying a car. Not arming yourself with the right information is bad. Here are some of the common mistakes to avoid when buying your first car:
-
Choosing a Car That’s Not Right For You
You've heard of buyer's remorse, right? It’s the feeling of regret people experience after buying something. Now imagine that feeling multiplied a hundred times—that's what you’ll feel when you buy a car that's not right for you. Don't be tempted to buy a car based on its price alone or the available rebates. Ensure the car you’re about to buy suits your lifestyle, needs, and even budget. If you can get one that matches your personality, the better.
-
Buying Based on Emotions
Car stock photos can be captivating and make you fall in love with a car (the cars sell themselves and no background is necessary). But when you buy something based on emotions and not logic, you’re more likely to make a bad decision. Emotional buying can cost you lots of money.
If you feel uncertain about a specific car, take some time to think about it (even if it’s only a few days) before making any final decision. Shop around online and compare quotes instead of buying a car on impulse.
-
Choosing a Dealer Based on Location Alone
Dealerships located in nicer neighborhoods tend to charge higher prices than those in less expensive ones because they have higher overhead costs. The same car model may cost more in a lot uptown and less in your local dealership.
Research the car dealers in your area. Read reviews about them online and check out their websites. Do they have a good reputation or customer service? Finding a dealership with a great reputation can save you a lot of headaches down the road. Research reveals nearly 41% of car buyers stick to the same dealer after getting a good deal.
-
Going Alone to Buy a Car
Another mistake many people make when buying their first car is going to the dealership alone. You need help from someone who knows cars well or has had experience dealing with dealerships (like an older relative). Ask for help or hire a mechanic for a few hours so they can check out the car, especially if you’re buying a used car.
Auto retailers have perfected the art of selling cars and are always looking for ways to squeeze more money out of customers. Don't show them that you're inexperienced or they will quickly take advantage of you.