The 3 Biggest Mistakes People Make When Buying a Car
No matter what type of vehicle you want, make sure you don’t make these three HUGE mistakes when purchasing the vehicle:
Mistake #1: Automatically Choosing New over Used
There’s nothing like that new car smell…unless it’s the smell of money in your bank account because you bought used instead of new! New cars lose an incredible amount of value the moment they are driven off the lot. That means you can get a great deal on a used car that is just a year or two old.
Buying used also means you can afford a nicer car for the same amount of money. In many cases and you will save money on your insurance since rates are often tied to the vehicle’s age.
Mistake #2: Not Having a Mechanic Look at the Car
One of the advantages to buying a used car from a dealership is that they have mechanics on staff to review every vehicle before it is sold. When you buy privately, this is not the case, and as a result, you could buy a vehicle that breaks down in just a few weeks – or even just a few days.
If you’re buying used, make sure that the car has the stamp of approval from a mechanic. Also, make sure you understand the warranty you’re given. So, if something does go wrong, you know how to best handle it.
Mistake #3: Spending More Than You Can Afford When Buying a Car
We get it. Those high-ticket vehicles are so tempting! However, before you sign on the dotted line, make sure you can truly afford the vehicle you are purchasing. Take a moment to plan your monthly budget. That way, you can see how much disposable income you have to spend on a monthly car payment. Remember, you’ll also have to pay for gas, insurance and maintenance like oil changes.
A large down payment and trade-in vehicle can definitely help you afford a more expensive car, but always remember: just because you are approved for a certain amount of money doesn’t mean you have to choose a car at the top end of your budget. Set your limits before you start shopping, and do a little research so you know what you can expect to get for your money.
Avoid these three mistakes and you’ll be well on your way to buying a new-to-you used vehicle that you love and that fits your lifestyle well. When you’re ready to start your search, head over to Peters Auto Mall to check out our inventory!