Nine mistakes that car buyers make

Walking into a car lot or showroom can sometimes be a battle and often the result is either walking away with your dream car or getting ripped off by the car dealer. It is best to be prepared and know some of the mistakes that car buyers make when buying a brand new or used car. Below are the nine most common errors car buyers fail to realize when buying a used or brand new car.

Not researching about important specs

Some car buyers simply trust the words of their car dealer or the information given to them by the car manufacturer regarding some of the important data such as gas mileage, crash ratings and horsepower. Check at least two credible sources confirming this information before buying a specific car model. Car forums also serve as a good research center, especially users that previously owned a similar unit.

Window sticker is the “final price”

The window sticker on the front of a brand new car is what you call the Manufacturer’s Suggested Retail Price (MSRP). Dealer discounts and manufacturer’s rebates can be slashed from these MSRPs and should not be the final price of the unit. Check beforehand if the brand of the car has promos to ensure you don’t get ripped off.

Getting caught on the “buy today” bait

You often hear it: promo, discount or rebate ends today. Don’t get sucked in simply because you want to get that great price. You came to the dealer lot or showroom to purchase a competitive car that can accommodate your needs. Fact is, only one out of five customers returns to a showroom after the first visit, so deals such as these are just to increase their conversions. Other types of this bait are the “freebies” from an umbrella to an oil change; you name it. There is also a good chance that the discount may increase tomorrow, especially if it was created to grab more sales.

Getting emotionally attached to a car

You walked into a used car lot to check out a Toyota Vios you personally researched and you had your budget set. But when you saw the stylish Mazda 3, you got so emotionally attached that you bought the latter for a lot more than you originally wanted to spend. The lesson: you buy a car because of its function and how it fits into your life; not for style or form (unless of course you have wads to show).

Not getting a mechanic check the car

Some car owners feel that owning their first car has made them a car guru, and therefore they neglect to bring a professional or at least a knowledgeable friend to have a second opinion. Bringing a mechanic into the shop of a used car dealer could make him vulnerable and a bit more honest than usual. Plus, your mechanic friend may spot problems that the naked eye may have difficulty finding, which is very valuable, especially when you are buying a high-end car.

Paying on a monthly basis (and looking the part)

If there is a type of customer that car dealers seek out, it’s the guy who wants to pay via a financing option (especially loans). Whether you are buying brand new or used car, dealers will always first approach you with “easy payment terms.” If you can buy it for the whole price, then go ahead. If not, the worst you can do is look like someone willing to pay monthly and not having the opportunity to haggle (in case of buying a used car).

Bowing to the “finance man”

There are three types of dealers in a car lot or showroom. The dealer (sells you a car), the delivery coordinator (adds dealer options) and the highest paid, most skilful of them all- the finance manager. Just be wary of this guy and scrutinize every word he says. Also, read the fine print of every document he hands to you. Often, these guys rip you off by offering things like extended warranties, theft protection, etc. in the promise that you will get a “better rate”.

Buying all the dealer options

Tire covers, mags, dual climate air conditioning, leather upholsteries, headrests, a DVD player, and more are just some of the equipment your dealer (a.k.a. Delivery Coordinator) will try to get you hooked on. There is nothing wrong with getting some of these nifty add-ons but you must be warned that this could also cost you thousands of pesos more. Choose only what you really need and not what the dealer says you need.

Not performing a test drive

Either the car buyer was so enticed by the chit-chat with the dealer or he had completely forgotten to do so. Often, a car buyer will simply assume that he has driven this type of car (say a sedan) and knows how they perform on the streets. A test drive gives you a chance to fully assess the car’s handling and how it performs on curves. This is the last phase of your review before signing those papers and it should never be skipped.