The truth is car buying can often feels like a daunting task. As of right now 75% of consumers, actually think that it’s a bad time to buy a car.
But what if you are in the market for a new or used car and it’s just bad timing? As you shop for used cars we have some car buying mistakes to avoid.
Don’t ever just negotiated a car on the monthly payment
When buying a car, you should never negotiate based on a monthly payment. Nothing to do when you were buying a car is to budget ahead of time. Know how much you want spend on the car and stick to that number.
It is common for the sales person to ask you how much you can spend on a car a month this is what car sales people do as a tactic to have you spend more money overall. What they most likely will do is extend the loan. Out to six or seven years so the car that you’re looking at makes sense as an affordable vehicle.
Instead of negotiating on the monthly payment stick to the total cost of the car and stay within that budget.
Expand radius for car shopping for new or used
I can be tempting to work with the closest car dealership in your area. However, you might get a better deal if you go outside if your radius maybe 5-10 miles for a new or used car.
But for right now you want to stay in with in your state you might want to just travel a little bit outside of your radius. Make sure the car that you were buying was either owned by one owner or was a product of the state that you are currently living in .
You may want to be in conversation with multiple car dealerships to see what kind of price points they can help you out with. It’s not a bad idea to communicate sometimes pricing via email so that you have the prices for the cars that you are looking at in writing. Remember, you are looking for the best car deals that the dealership can offer.
Mention your trade-in last when you’re buying a car
You don’t want to mention your trade-in too early. The trade-in value was designed to reduce the overall price of the vehicle. If you bring it up to you soon, you could be at a disadvantage of negotiating. If the sales person knows that you have a trade-in, they may start the price off at higher cost for you.
Rather than telling the car sales person that you have a trade-in wait until you have settled down in price and mention that you have a trade-in this can help lower the final price.
Shop around for the best auto loan rates
Another mistake that most car buyers end up doing is not shopping around for an auto loan. That makes sense. Shopping around your local area for a car new or used as a good idea. I don’t forget that you had to shop around for auto financing. Before you go, jumping the gun and visiting some local car dealerships, make sure that your lineup car financing.
Compare car loan rates from different places including banks, credit unions, and online. You can also find out what the car dealership are offering too.
Get the car inspected by your local mechanic that you trust
Don’t forget, you don’t want to skip the initial car inspection when you’re buying a used car. Don’t just take the car dealerships. Word for it. If you have a mechanic that you trust, take the vehicle over to them and have them inspected for you.
Find out the car problems before you’re stuck having to shell out a ton of money. Get an estimate on the fixes too. That is why it always pays shop around for a good quality car. You might be spending a little more but you might be able to find a car with less issues.
Watch out for a car dealer scams
Don’t ever agreed to add-ons they can be a waste of money. Some car dealerships may pylon the extra cost or fees. Before you sign any contract, find out what these fees consist of and how much it will cost you. It’s best to cover your butt. It’s a good idea to do your own research to see what fees are actually supposed to be paid and which ones are going to be add-ons. Look at the dealership warranties and dealer installed options for any potential costs. Your voice like we can negotiate some of these cars out of the contract, but it is in your best interest to be aware of them.
Don’t be afraid to walk away from a car deal
Don’t be afraid to walk away from a car deal if you don’t like the terms. Being able to say no, in a car, can save you thousands down the road. That is why it is best to shop around at dealerships so that they know that you are comparing cars and you can walk into a dealership confidently. Take your time when you have to hire a new or used car don’t ever feel pressured by the car dealership to purchase.