Common Mistakes People Make When Buying a Used Car and How to Avoid Them

For many first-time buyers, purchasing a car can appear like a relatively straightforward task. And, while it really can be with a proper understanding of what's involved, those who have never been through the process before can fall foul to a few pretty rookie errors that can range in severity from overpaying to having profound buyer remorse as they drive away in a vehicle that really doesn't suit their needs or style. In this post, we're taking a look at several of the more common mistakes people make during the car buying process so that those in the market for a new car can read and avoid them.

Always Believing That New Equals Better

While we would all love to have the money to buy everything new whenever possible, the simple fact of the matter is that new doesn't always mean betterat least in the case of cars. There are some benefits to purchasing brand-new that would be remiss to ignore, such as the pride that comes with owning a new model and the security from the protections offered (warranties, there is no prior wear and tear to consider). Nevertheless, because cars are highly depreciable assets when compared with others, as soon as you drive off the lot, you will be subject to an enormous depreciation event of up to 10%. Moreover, newer cars will cost more while offering less in terms of included toys and bells and whistles, which tend to be a deal-breaker for most. Instead, you ought to begin your search by looking around for used or nearly-new models based on your budget. Whether you're after family-friendly used cars replete with the sorts of things that will keep your children entertained during long journeys or something a little sportier, you will usually find that you get a lot more bang for your buck than opting for new ones. As long as you follow the usual steps when it comes to used vehicles, you can guarantee that you will drive away safely with the knowledge that you have spent your money wisely without any significant downsides.

Not Researching The Car's History

If there was ever a cardinal sin when it comes to buying a car (new or otherwise), it's not taking the time to research its history. By putting in the effort at the start of your journey, you can ensure that you'll avoid any problems later down the line that you may be unable to remedy after the fact. Although this tip is mainly aimed at used options, it's still prudent to ask any dealership you're buying from to run a history check on your behalf to see what issues are lurking underneath. In some extreme cases, you could even discover that the vehicle you've had your eye on was involved in a terrible accident that should have rendered it written off. In this case, you will have dodged a dangerous bullet that you might not have been able to avoid once you've signed on the dotted line and handed your money over (partly because it's often up to the buyer to ensure that all pre-checks are performed before agreeing to a sale). If you bought private, you may not be able to get your money back. Even if you purchased from a dealership, it can still be a lot of work to get recompense, making it vital to spend a bit of time and effort on this step.

Skipping The Test Drive

It can be tempting to skip the test drive when you're absolutely sure you've found your dream set of wheels. Nonetheless, doing so could cause you the sort of buyer's remorse that will scar you for every other purchase you make in the future. Testing driving your potential future car will give you a far better idea of how it handles and if it matches your particular driving style.

Overlooking The Total Cost (Not Only That Of The Initial Purchase Price)

Too many folks will only look at the sticker price of a car they're interested in while ignoring what could be described as more critical metrics they ought to consider. For example, while it might be tempting to go for that BMW, you have had your eye on because you have found one that is significantly cheaper than you imagined and happens to fit your budget. Well, although it might look like the deal of a lifetime, if you fail to factor in costs like maintenance and insurance, you could end up with a nasty shock the next time you go in to change your tires. By taking into account all of the costs associated with whatever make and model you like the look of, you will be better able to budget more effectively and avoid that sinking feeling when you check your insurance premium online!

Buying a car needn't be a challenging task, but without the proper understanding of what's involved, you run the risk of falling prey to shady tactics, overpaying or driving away, and finding that you have immediately lost a massive chink of money. Using the points in this post, you can be sure that you will drive away happy with your selection.