Purchasing a new car can be a thrill, but if you are not cautious when reading your contract, you may hit some bumps in the road. It is important that you know every detail that goes into your contract with the dealership you choose. Here at Parks Chevrolet, we’ve configured a list of the top five car buying mistakes to avoid.
- Shopping based on monthly payment could make or break your wallet. Most customers will settle for a longer finance period so that the monthly payment will be lower. In the long run, it will cost more in interest. Be sure to consider the costs of maintenance and insurance, too, as these can vary depending on the car you choose.
- Choosing a car that’s ill-suited to your needs can cause you to regret the purchase later on. At the time of purchase, a particular vehicle may seem like a good deal but is this vehicle efficient to you in the long run? Try avoiding going with the cheaper solution and make sure you’re making the right investment, even if it means paying a little more. For example, even if there’s a great price on a Chevrolet Spark, if you plan to expand your family in the next year or two, it may not provide enough space to fit your needs.
- Skipping the research phase of purchasing your vehicle of choice is a mistake to avoid. Knowing the history of the vehicle as well as finding out what the specific model is capable of is an important aspect of car buying. Make sure to do a price check so you know you’re getting the best price available.
- Buying under pressure is not a good way to go, either. Hearing things like “This is the deal of a lifetime!” can deter you from making the right decision when it is purchasing time. Go with your gut, and don’t rush into purchasing.
- Overlooking hidden costs will sneak up on you when it’s time to make that first payment. Read the final invoice closely. Question any suspicious add-ons and dealer prep fees during the time of purchase before it is too late.