Most adults end up purchasing a car at some point in their lifetime. Buying a car can be stressful, or it can be made easier if you go shopping for a car with some knowledge. There are mistakes that many people make when buying a car that can easily be avoided if you are aware of them. Here are six mistakes you should avoid when buying a car.
Falling in love with a particular vehicle
Don’t get carried away by your emotions while choosing a car, significantly if it’s going to cost you thousands of dollars. Being or to believe you’re in love with a particular car prevents one from appreciating other vehicles that could have better characteristics or that may even be better suited to your needs.
Always try to search thoroughly, gather information, performance, technical data, security, price, performance, etc. Ask your friends and acquaintances. Being well informed can prevent one from falling into the hands of a seller who has a masterly involvement and ends up embarking with a car that might not be the best for you.
Do not skip the driving test
A driving test is mandatory while choosing a car. Don’t limit yourself to browsing the websites of the agencies or seeing brochures. Being in contact with the car directly will let you have a more objective view. It is a unique opportunity to know if that car that you like so much is the one that best suits your needs.
Today, almost all agencies in Mexico offer you a test drive without commitment. Allow yourself to feel the car, analyzing its interior, finishes, comfort, etc.
Care when negotiating on the list price
Do not use the list price as a reference to negotiating an agreement. A seller can offer you a discount of 5,000 pesos below the list price, and you will think that you are getting a fair offer when in reality, it is not like that.
Unless the vehicle is in high demand and there are few units, you can often get a fair discount on what the dealer paid for the vehicle. Knowing the real cost of the vehicle will allow you to know with certainty how much the margin of profit of the lot or distributor, with it, you will know how to determine a price with which you can negotiate.
Wait to get to the agency to think about financing
Do not wait to reach out to an agency to determine the type of financing you will use since this can make your car a little more expensive. Before going to an agency, give yourself a little time to investigate the finances available with banks and the same agency. Try getting a pre-quote and be careful with those “little letters.”
Do not be guided only by the cost of the monthly payment
Many sales agents love to focus on the average monthly payment when they are in front of a buyer. Almost everyone starts talking about how low the monthly payments are to buy this or that car.
Don’t fall into that trap. It is the first step to be manipulated with numbers and get paid more for your vehicle. Using the monthly price as the main argument, the seller can include it in the “new price of the vehicle.” Factors such as taking your car on account, financing, or leasing, giving you many cushions to offer you a “good price” in a specific option, and raising your gain on the other hand.
Do not buy the offer. Buy the vehicle
In recent times manufacturers have been given the task of offering a wide variety of incentives such as 0% interest rate on financing, cash rebates, and employee discount programs.
These incentives could save you money, but that’s when you should consider that a good discount probably does not justify buying that car. Is it the car you are looking for? Have you handled it?
Buying a new car is never easy; this may not be your first time buying a car, but it is understandable if you are worried. Just make sure you are not missing out on these six points.About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.