6 Poor Choices First-Time Buyers Usually Make
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- 6 Poor Choices First-Time Buyers Usually Make
- 1. Picking out too little of a vehicle.
- 2. Picking out a luxury vehicle.
- 3. Buying unnecessary accessories.
- 4. Negotiating on the price of the vehicle.
- 5. Buying a vehicle with no test-drive conducting.
- 6. Not taking a used vehicle which is out of warranty to a mechanic before purchasing.
For newbie buyers, vehicle buying can be quite a hard challenge to take, however it shouldn’t always be. We have a lot of accumulated buying experience, so take your popcorn and pull up a chair. Here are the 6 most common mistakes first-time buyers usually make.
1. Picking out too little of a vehicle.
If you believe you have plenty of space to transport the youngsters together with the family dog to grandma’s house, take the time you need and consider one more look. You could have room enough for people, still the space behind the back seats also matters — not only for ordinary trips, but also for soccer practice and/or weekend getaways too. Technical specs alone can be confusing. In case you have one or two strollers that will need to come along, feel free to bring them to the local dealership and be sure they can fit behind the back seats or in the trunk.
2. Picking out a luxury vehicle.
A good lease offer can easily set you into a luxury car having a lot more features and performance, however, it may also lead to not sustainable ownership expenses. Many luxury cars advise or demand high quality fuel, and many other hidden costs may also hit your financial budget. During the first 5 years of ownership, the standard yearly insurance cost for a 2015 Toyota Camry will be $1,012 approx; yearly servicing averaged $672 approx. Do a comparison with a 2015 BMW 320i for example, which insurance will cost you a $1,365 approx. per year. Even if you have the BMW’s two-year complimentary service program, 5 years of maintenance will cost you $772 approx. per year.
3. Buying unnecessary accessories.
Be aware of minor accessories and all the protection packages. We have seen many dealers try to charge just about $200 for things like door-edge guards, pin-striping, splash guards or vehicle identification number etching. So a good advice here for you is to always consult for the out-the-door price then consult that against other out-the-door prices.
4. Negotiating on the price of the vehicle.
If it looks like you are paying much more out-the-door compared to the original price you arranged, it may be because, well, you are. A new-car buying usually includes a destination fee, sales tax plus some regulatory fees such as registration and license plates. It is also common many dealers to charge some documentation fees to cover their paperwork cost. It might be weird, but doc fees can go to the few hundreds of dollars, based upon the dealership and county, since many states don’t impose limits on those charges. So, what is the best solution here for you? Start with requests for the out-the-door price which includes taxes and all fees, and try to negotiate on that price alone. It will give you a clear picture of all of the car costs at the end of the buying process.
5. Buying a vehicle with no test-drive conducting.
It could look like you have done all of the work by researching using the internet, and discussing all the details by phone or email, but cannot just arrive to sign the documents and take the keys. Why? Because a test-drive of the model you are actually buying might show you issues that you might overlook at the start— a problem with visibility, or some strange noise coming from the engine — so you are obligated to give it a detailed road test of the planned vehicle. When buying a used car, this is the most important thing to do. Never buy sight-unseen vehicle; always take a test drive.
6. Not taking a used vehicle which is out of warranty to a mechanic before purchasing.
Late model used cars usually have some portions of their initial manufacturer warranty still left, and certified vehicle examples might have even longer warranties. So, if you are buying an uncertified car which is past its manufacturer warranty, it is essential to get a trusted mechanic to examine it. A reasonable seller must let you bring the car to a check, and a good mechanic can look at all the important areas which escape the amateur human eye. So, if a problem with the car appear, that problem can become negotiating leverage at least, or simply a good reason to buy some other vehicle.
Vince G here with ScannerAnswers. Mike and Matt made me fill out this bio… I write on this site once-in-a-while when I’m not fishing or biking. I love fast cars and on weekends I sometimes work on them. I help with this site because I believe everyone should own and be able to use a wireless bluetooth OBD2 scan tool.