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The car-buying process can be stressful, and the entire ordeal can be that much worse when you find yourself regretting your purchase.
These regrets are multiplied when you learn that your mistakes could have been avoided entirely. How do you make sure you don't fall into that kind of situation? Well, you read our guide below.
We've determined three of the most common mistakes among car buyers. Whether you're preparing to make a purchase from a dealership or to buy a car online, follow our guide so you don't end up bitter…
Sure, it may be a pain in the butt, but you're going to have a more painless (and overall easier) car buying experience if you do a bit of research beforehand.
Now, we're not saying you need to travel to a library, read the encyclopedias, and learn every last bit of information. However, you could visit a number of car websites and blogs, where you'll get a better understanding of what vehicle you should be targeting.
Once you've determined what type of vehicle you want, you may focus in on a particular spec, feature, or even brand. If you're looking for a high-horsepower vehicle, you'll want to research all the cars that fall into your targeted class of vehicles.
If you're looking for a vehicle with an abundance of interior space, you'll want to make sure you're focused on that attribute. Or, if you just want to limit your search to a particular brand, you can use the specs and features to help make your final decision.
This is actually a clever strategy used by a number of dealerships and salesmen. Generally, they'll try to convince a consumer that they're receiving a better deal based on a vehicle's monthly price.
However, there are plenty of variables that will determine whether or not this is a good deal, particularly the auto loan terms. Furthermore, some potential car buyers may not be thinking about their budget outside of the price of the car.
It's always a good idea to set aside some money for gas, repairs, and any other amenities you may need to pick up. It's smart to include these in your monthly budget.
A way to remedy being taken advantage of is by figuring out the MSRP for a particular vehicle. Thinking big picture will assist you in best utilizing your allowance, and you could even use the figure as a negotiating tactic.
After all, there's no reason to be spending more than necessary, especially considering that you're already paying a hefty price.
Now, we're not saying that you shouldn't be buying a new vehicle. Besides that warm feeling you get when you initially power up your new vehicle, there are a number of positive reasons to opt for that type of car.
You probably won't be dealing with mechanics as much as you would be with a used vehicle, and even if you do, there's a good chance that your car will still be under warranty.
Of course, there's a huge financial incentive if you opt for a used vehicle. Sure, it may not look as nice, but you won't be feeling the effects in your wallet.
Even the logic that argues that you'd be getting a better deal when you trade in your "new" vehicle is flawed, as cars generally lose around $4,000 in value the moment they're driven off a dealership's lot.
Not too difficult to manage, right? Follow our tips above, and you should have an easy and enjoyable car buying experience.
In the meantime, head over to NowCar.com. Not only can you search and design vehicles, you can even make purchases from the comfort of your own couch!