Saturday, 17 December 2016

What Not To Do When Buying Your First Car

Buying your first car can be an intimidating prospect; there’s so much that you don’t understand and it’s easy to get lost in facts, figures and terms that all seem to merge together, when all you want is a good deal. 

You’ll have read a lot of articles on buying tips, but what about the things you definitely shouldn’t do? It’s easy to get confused, but there are some key things that you should steer well clear of doing if you want to get a reliable first car. With this in mind, read on to find out what not to do.

1. NEVER always buy new:
First of all, buying a new car for your first vehicle is a huge mistake. It’s likely that you won’t have a lot of money to start with, and if you do, you’ve probably spent a long time saving it and you don’t want to waste it. This is inevitable if you buy new though, because it could lose up 19% of its value in its first year out of the factory. Ideally you should aim to get a car with good mileage that’s a few years old. Auto trader has a huge range of second hand cars, and there are reviews against each of them so that you can tell what real buyers thought about them.

2. DON’T avoid car dealerships: This is a big no-no; there are so many people these days who steer clear of dealerships because they’ve heard tales of “rogue traders”. After all, you’re buying your first car and likely know nothing about them – what if they see you as an easy target? This is understandable, but you can get some fantastic deals at used car vendors, and not all of them are looking to ‘take you for a ride’. Our top two tips here are to always take someone more experienced with you, and make sure you do your research beforehand so that you know what that particular car is already going for.

3. DON’T tell them what you can afford each month: Most car dealers know that people will opt to pay for a newer, more expensive second-hand car via monthly payments, than pay cash for a cheaper, older model. With this in mind, the worst thing you can do is simply walk in and announce exactly what you can afford. They’ll make sure they drop that number into the payment plan, but that will be without the added extras, the fees and so on. Dealers want you to take monthly payment plans as they can get a better rate for themselves, but if you can’t afford to take the car for cash, make sure you avoid telling them what your budget is, and instead negotiate the purchase price down, before asking them to draw up a payment plan for you to take away and consider.

Do you have any more what-not-to-do tips for our readers? Leave them in the comments section. Sarah Williams
What Not To Do When Buying Your First Car

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