Getting your first vehicle is a significant right of passage. This is especially true when you’re responsible for the ground of work before the purchase. However, there are mistakes that a first time car buyer can make that will negatively impact them. Truthfully, some more experienced drivers can make similar mistakes that can make ownership a nightmare.
A common first time car buyer mistake is not researching
Many first time car buyer mistakes can cause issues down the road. However, one of the worst is not doing research beforehand. In fact, some people know they want to buy a vehicle but show up at the dealership and only take the salesperson’s suggestions. According to Lending Tree, about 40 percent of buyers later regret their choice.
Research is necessary so that a first time car buyer can find a car they love, but they can also ensure that it has a history that makes it more likely to be reliable. Besides early maintenance issues with the car, one of the worst things that can happen is to realize you need something else out of a vehicle than what you bargained for. Ultimately, a test drive isn’t enough. Still, this is an important step.
Not shopping around
Another first time car buyer mistake is not shopping around. Instead, they see shiny metal on a dealer lot and decide to give that company their business. However, shopping around for a new vehicle gives buyers much more freedom because the vehicle they want could be priced differently at a different lot. It’s also important to investigate the history of any car lot you’re considering.
A first time car buyer might get a car that’s too expensive
A first time buyer could easily make the mistake of getting a vehicle priced beyond their budget. This is because they can negotiate lower monthly payments to, in their mind, offset the price tag. However, expensive vehicles have pricey requirements that many first time buyers can’t afford. This is especially true for people who get luxury cars before they’re financially ready.
This is also why research is necessary. There are some expensive but unreliable cars on the market. So, getting a long contract on an expensive vehicle with poor reliability ratings could be a significant mistake. Of course, the first time car buyer also needs to understand fuel costs and the economy their vehicle of choice grants.
Not considering used cars
Many first time car buyers who have a decent income don’t consider used cars. This is because some inexperienced buyers look down on even the best used cars. However, there are many solid options that people have people have owned previously. In fact, buying a certified pre-owned model offers some of the peace of mind that new car buyers have.
Overall, getting a new car is an exciting endeavor. However, people need to do research, know what they want, and perhaps most importantly, don’t buy a vehicle based solely on how it looks or drives. There’s much more to the process than this.