The euphoria of buying a new auto can blind your common sense and hinder you from making a smart buying decision. You might end up overpaying for a vehicle or driving home a car that doesn’t match your needs. Save yourself from potential remorse and heartache by following these pointers:
1. Figure out the financing terms.
Before you walk into a Nissan dealership in Newmarket, you need to figure out how you’ll finance the car of your dreams. If you don’t have the cash, you have to borrow conservatively. When comparing finance options, do not focus on the monthly payments alone. Run all the numbers to find out which lenders makes the best offer. Apply for pre-approval once you find the ideal auto loan and try to make a 20% downpayment.
2. Test drive the exact vehicle you’re buying.
Most buyers hop in and head home only to find nasty surprises on their driveway. Avoid making this huge mistake if you don’t want to live with irritation for the coming years. Most dealerships show a top-of-the-line version of the car you want. This version is in the best condition and has all the goodies. So you must check and do a thorough test drive of the exact vehicle you’re buying. New cars can be damaged during shipping. Walk around the vehicle to spot missing pieces or scratches.
3. Focus on your needs.
You need to carefully assess your needs to find the right vehicle for you. How much cargo space do you need? Do you primarily drive in highways or off-road? Think about the number of passengers you need to carry regularly. You don’t need to buy a big SUV if you’ll not be carrying seven passengers often.
Don’t saddle yourself with a vehicle that only suits occasional needs and don’t fall in love with a single model. Everyone wants to get all the good things in a car, but you have to choose the features that matter most to you. Make a list of your must-have features and unless you have the budget, avoid the unnecessary extras.
4. Avoid rip-offs.
Dealers are probably better at negotiating than you because they do it every single day. They know the types of customers and have the best rebuttals to every objection. While there are a lot of honest salespeople who work with integrity, others love to make money off a clueless shopper. Arm yourself against unscrupulous dealers by being an educated consumer. Look up the prices beforehand and compare competitors.
Have your emotions in check because they put you in a weaker position. You can admire the car but never tell the salesman. He’ll likely jack up the price because he knows you will be willing to pay more for the vehicle you love. Even if it’s true, don’t tell the dealer that you don’t know much about cars. He’ll try to sell you all the extras and emphasize how much you need upholstery protection and extended warranty.
Never rush your purchasing decision. Do your homework, pre-shop for financing, and find the car that meets your needs before you sign the deal.
