4 Financial Pitfalls You Can Avoid When Buying Your Next Car

4 Financial Pitfalls You Can Avoid When Buying Your Next Car
  • Opening Intro -

    Driving around in a shiny, new car that turns heads everywhere you go can make you feel great.

    However, for may auto buyers, this pleasure is outweighed by feelings of regret after recently buying a new vehicle.

-------------------------------------

It is unfortunately common for people to feel scammed or duped by the car buying process in many ways, and some may lose thousands of dollars from various factors. The last thing you want is to lose money because you made bad financial decisions with your new car purchase. Watch out for these common financial pitfalls to avoid paying more than necessary on your next vehicle.

Not Getting a Good Deal on Your Trade-In

Trading in your current car to the dealership is a convenient way to get cash for your vehicle. However, many people accept a trade-in value that is lower than they could receive. They do not negotiate with the dealer on this point. In some cases, they could even get more money if they try to sell the car directly to a buyer on their own. Always research your vehicle’s current value online, and consider getting multiple trade-in offers from various dealerships if you do not want to sell the vehicle yourself.

Paying Too Much for Your New Car

Negotiating on a vehicle’s sales price may not sound fun, but it can save you a tremendous amount of money. A smart idea is to compare sales prices of the model you are interested in at different dealerships in your area before visiting them in person. Some auto buyers will even begin the price negotiation process over email or over the phone. This places less pressure on you to make an instant or hasty decision.

When you work with a local dealership that has a good reputation, you can generally expect to get a fair deal on your new vehicle’s sales price. However, always be willing to walk away from a deal, and never feel pressured to sign off on an offer on the spot.

Buying the Latest Model Year Available

You may not realize it, but even new models can depreciate in value before you drive them off of the lot. In many cases, you will find the most recent model year as well as new versions of last year’s model on the dealerships lot. The older model likely has already depreciated substantially because the newer model is available.

You can get a great deal on a new car if you look at these older vehicles. However, always ensure that you negotiate a fair deal so that you are not paying more than necessary for a car that has already depreciated in value.

Being Charged a High Interest Rate on Your Loan

It is common for buyers to get financing for their purchase through the dealership. Some dealership deals are amazing, but there are some financing representatives who will try to get you into a higher interest rate loan with more fees. It is wise to shop around for auto financing before you visit a dealership.

To find places to shop around, just do a localized google search like “st george kia dealership” and check their inventory if you can. Take the preapproval letter for the best deal you can find with you, and ask the dealership’s financing department to beat the offer you found. If they cannot, you can always use the great financing offer you found through your own effort.

There are unfortunately many different ways for you to lose money on a vehicle purchase, and some buyers lose thousands of dollars or more by being impacted by multiple steps in the process. As you prepare to buy your next vehicle, focus your attention on these points to ensure that you get the best deal possible on your purchase.

Consumer Tips reference:

auto financing guide

 
SaleBestseller No. 2
Ratchet Leather Belts, Yamissi Leather Belt for Men, with Automatic Buckle, Goft Belt, Dress Belt fits for Waist Size 28" to 40" (Brown)
  • Get your Desired Zize : You can cut for your size easily or if you're buying as a gift, don't worry, you don't need to know the size!
  • How to us: Just slide the belt into the buckle and pull the belt through, the buckle simply auto locks the belt. Lift the buckle and pull to release. Quite easy to tighten and release. Special designed for men in dress suit, uniform and jeans. Simple, smooth and sleek!
  • The innovative new style buckle is made of Zinc Alloy, shiny and practical. The buckle will not fall off or get slipping after long time use.
SaleBestseller No. 3
JINIU Canvas Web Belt Military Style Black Buckle solid color 51' Long 1.5' wide CAB1 BLACK
195 Reviews
JINIU Canvas Web Belt Military Style Black Buckle solid color 51" Long 1.5" wide CAB1 BLACK
  • Material and Size: 38mm wide CANVAS strap. Belt length (full length of belt strap):51" (130cm). if you need a belt shorter than 130cm please cut it according to your size. The weaving on the belt was done to be very high grade and sturdy enough to hold up your pants and the weight of a decent holster for a carry and conceal weapon.
  • Appearance: Canvas Web Belt Military Durable Simple Adjustable, No holes, Auto Lock Buckle (Sliding Buckle), The belt buckle is a sliding lock meaning that you can adjust the size throughout the day and does not require putting a hole in it. It's a heavy duty belt, made out of canvas , and is stitched together nice and tight, very slim chance of fraying. The buckle on this belt fastens securely, it's a clamp style, so you don't have to worry about it coming undone.
  • How to use: Measure your waist with the given tape measure. Once the measurement is made, cut it straight. And then to wear its very simple just thread the belt through the clip and lock the clip when the belt is tight enough.

Last update on 2017-10-20 / Affiliate links / Images from Amazon Product Advertising API

-------------------------------------------------------------------------------------------------------------

end of post idea

-------------------------------------------------------------------------------------------------------------

Helpful article? Leave us a quick comment below.
And please give this article a rating and/or share it within your social networks.

Categories: Autos Express

Write a Comment

Your e-mail address will not be published.
Required fields are marked*

Time limit is exhausted. Please reload CAPTCHA.