Common Mistakes People Make at the Dealership
Are you in the market for a new or used car? To ensure you make a smart purchase, here are six rookie mistakes to avoid at the dealership.
Mistake #1: Neglecting to Do Your
Research
Too often,
rookie car buyers make the mistake of going to the dealership, without having
done their research first. Whether you're shopping for a new or used car, you
should begin your search well before visiting the dealership. Do your due
diligence by searching the online inventories of various car dealers
in NJ, as well as
looking at Kelley Blue Book and Edmunds guides. This will tell you show you
what's out there and allow you to compare costs and features.
Along with
surveying the options, consider the type of car you're after. By knowing what
type of car you require, you'll avoid choosing a car that's ill-suited for your
needs. Learn about the different makes and models of various vehicles to
determine which is best for you. Then write
down a list of specific vehicles that meet your budget, needs and lifestyle and
ask to see them specifically when you're at the dealership.
Mistake #2: Not Securing Financing
Before You Shop
Many rookie
buyers head to the dealership without securing financing first. They assume
they will finance through the dealership. While financing through the
dealership can be the better option, it's still best to line up your own
financing first. Before you shop, get pre-approved for a car loan from your bank
or credit union. If the dealer can match the interest rate, then you can choose
to go through the dealership. If not, you have a lower rate locked in. Having
something to compare against the dealer's offering can also help you get the
best offer, as well as help you understand how much you can really afford.
Mistake #3: Focusing Too Much on the
Monthly Payment
While buyers
need to know how much they can afford for a monthly car payment, this number
shouldn't be the only deciding factor when purchasing a car. Buyers should
consider the overall cost of car ownership, instead of focusing solely on the
monthly payment. Buyers who zone in on the monthly payment make the mistake of
paying more in the long run. They settle for a longer finance period to lower
the monthly payment, resulting in more interest. When budgeting for a car, also consider the
cost of insurance and maintenance. Keep in mind older vehicles will cost a lot
more to maintain.
Mistake #4: Buying from a Shifty
Dealer
There are
plenty of car dealers in NJ, so make sure you shop around. If a dealer feels
untrustworthy and gives you a weird vibe, simply walk away. There's also no
shame in speaking to a manager or another sales representative if you feel a
particular salesman is pressuring you into a sale that you're not comfortable
with. Make sure you are shopping at car
dealers that are reputable and have a good standing with the Better Business
Bureau.
Mistake #5: Skipping the Test Drive
Research
shows that nearly 20% of car buyers skip the test drive before purchasing a new
car. Another 33% of car buyers only take a car for a short 10-minute drive
around the block before buying. Even with new cars, the test drive is
essential. You can’t just go off of what you've heard about a particular car. The
test drive is the only real way to determine if it's right for you.
Make sure
you do a thorough test drive; don't just take a short a spin around the block.
If possible, drive the car on a variety of road conditions and try to mirror
your daily driving habits. For instance, if you often drive on fast highways,
then test the car on a fast road. If you drive frequently on uneven backroads,
then drive the car on a bumpy road. During the test drive, consider all aspects
of the car, including the comfort, ride, noise, controls, sound system, heating
and cooling system, brakes, steering, and so on.
If you have
your heart set on a specific make and model, consider test driving a competitor
vehicle to ensure it suits your preferences.
Mistake #6: Forgoing the Appraisal on
Your Trade-In
When
shopping for a new car, many buyers plan to trade in their current vehicle. If
you plan to do this, then do an appraisal on your car beforehand so you know
how much it's worth. It's best to leave your car as is because repairs will do
very little to increase its value. Refer to Kelley Blue Book and Edmunds guides
for the value of your trade-in.
By being an
educated buyer and avoiding these rookie mistakes, you'll choose with the right
vehicle and have a positive car buying experience.
Labels: buying a car, car buying tips, Car Dealers NJ, new cars New Jersey, Used Car Dealers NJ