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Updated by April Rose Casiple Semogan on Dec 04, 2020
Headline for Top 10 Common Car Buying Mistakes To Avoid This Holiday Season
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Top 10 Common Car Buying Mistakes To Avoid This Holiday Season

Ho! Ho! Ho! It’s the most wonderful time of the year again and I’m pretty sure everyone is just as excited as me. Pretty much, we are all making a list of things we are looking forward to buying especially presents to our loved ones. Of course, it’s also the time of year when we’d want to spoil ourselves by purchasing things we love, including a car. According to experts, Christmas and New Year are the best times to buy a car, whether it’s new or secondhand. In as much as we love to strike the pedal and drive the car home, here are the top car buying common mistakes that you need to avoid this holiday season.

Neglecting To Do Your Homework

To ensure that you are going to get the most out of the money that you’re going to pay for your car, it’s important to do your homework. In this time and age, the internet has made things convenient for all of us, including getting access to facts and figures about vehicles, features, pricing and financing. So, be responsible enough to do y our research before sealing a car deal.

Forgetting To Prioritise Your Needs

The general rule of prioritising needs versus wants also applies to car purchases. Once you’ve done your research, make sure that you have a clear understanding of what you need. Of course, you should look for a car that is ideal for you or your family. For example, you are looking for a car that is child-friendly, so, the least you’d need is a muscle car.

Blowing The Budget

Setting a realistic budget and sticking to it is paramount. Avoid spending money that you don’t have in order not to blow the budget. Again, pay attention to your needs in order to make sure that you pay more than you've budgeted for. Don’t fall for the dealer’s sweet words to avoid remorse in the end.

Skipping The Test Drive

Don’t ever think about skipping the test drive just because the car looks good on the outside. It is an integral part of checking the car’s function, performance and features. It’s one way to identify if there are any issues with the car, particularly in changing gears. Be sure to test drive on bumpy back streets and smooth highway to ensure that the car’s performance is good.

Rushing Into A Deal

It is a car dealer’s job to get you into a deal right away but you MUST not fall for it. Remember, there are other car dealers in your area that might offer the same car model at a better price. Don’t let your emotions overpower and make rational decisions as it is not a minor purchase.

Failure To Consider Other Options

A new car may look tempting but considering a used car is not bad at all. You can get a good bargain on a slightly used secondhand car as long as you keep a keen eye on the details. For example, you want to buy a brand new car model but you ignore checking for a secondhand one. You end up missing the opportunity to purchase a relatively new used car in stellar condition for a steal.

Paying Too Much Attention To Features

Yes, features on a car look cool and all. However, not all features on your desired car model are important and just adds up to the car price. To avoid this mistake, make a list of the features that you absolutely need to have like a leather car seat, and don't allow new features to creep onto your list unless they are within your budget.

Overlooking Pre-Financing Options

Getting pre-approved car finance can be of great help in car buying. It can help you pay off your debt without the high-interest rates. So, before you head to your car dealer of choice, make sure that you have shopped around for financing options. Know how much you qualify for, and what interest rate you can get on your own.

Focusing On The Payment

Another mistake that most car buyers commit is paying too much attention on the payment. Remember, the purchase price is the main thing that you need to focus on. If you focus too much on the payment, you’ll end up getting locked into loan terms that are not as good as you might qualify for and it may take longer than you would have expected.

Underestimating Help From Car Dealers

Car dealers can help you find pre-approved financing options that best suit your needs. Yes, they have sweet words that you should not fall for, but, if you are armed with knowledge, you can ask their assistance to help you find the perfect car.