2. Don\u2019t Only Think of the Deal<\/h2>\n
You may have an idea of what you want to pay as final negotiated price<\/a>. But, most shoppers forget about taxes and license fees and that could add several thousands of dollars to the end cost of the vehicle. Once you\u2019ve committed to the sale price minus the extra fees, re-negotiation is rarely an option, and you\u2019ll end up paying more than you wanted.<\/p>\n Zero-down deals are good up to a point. Often, the result will be that you have little or no equity in your new vehicle and that means you\u2019ll need to make a substantial number of monthly payments before you\u2019re no longer \u201cupside down\u201d on your loan. Should you have an accident and the car is totaled, you could be left holding the bag. In other words, you could owe more than the car is worth, which can cost you plenty if your loan company wants you to pay the difference between the two.<\/p>\n In many cases, the buyer relaxes once they\u2019ve struck what they believe to be a deal. However, dealerships<\/a> make most of their money after the sale. Avoid falling prey to higher interest rate loans or expensive extended warranties when the finance person takes over. It\u2019s their job to push these on you\u2026adding even more to the original price you agreed on. Don\u2019t be afraid to bargain here as well.<\/p>\n We\u2019ve all been there and heard it before. A great sales ploy is that the deal is only good if you decide right now. Truth is, the same deal will probably be there tomorrow and may be even better, if you show the sales person you\u2019re a tough negotiator. When the pressure is on, most buyers crack and give in\u2026which is never a good thing for you. Take time to think about it. Avoid jumping at the offer just to cure your \u201cnew car<\/a> fever\u201d. You could feel a lot worse in the morning with a bad case of \u201cbuyer\u2019s remorse\u201d.<\/p>\n Surprisingly, many new and used car buyers frequently start out without a clue what they need or want. If that\u2019s you\u2026you\u2019re at an immediate disadvantage. The power is entirely in the hands of the sales person, who knows his inventory and will steer you in the direction of vehicles from which he stands to make the most money \u2013 instead of what\u2019s right for you.<\/p>\n Third party listing sites are gaining more popularity, as they allow customers to search through thousands, and in some cases millions, of vehicles. Once you find a vehicle you like, you can quickly see the name of the dealership where that vehicle is located and head down for a test drive.<\/p>\n Avoid shopping for a car with a set monthly payment in mind. Regardless of the amount, don\u2019t let the sales person know how much you can afford. Once he knows your target number, of say $400, he\u2019ll come up with a deal that exactly matches the amount. Unfortunately, he may end up telling you the only way he can give you those payments will be with a longer term loan, and may even diminish the value of your trade-in, if you have one.<\/p>\n So, don\u2019t fall victim to the pitfalls of buying a new or used car \u2013 by simply avoiding these 7 common mistakes.<\/p>\n Another good idea is making sure you\u2019re getting the best rate on your auto insurance. Why not get a free auto insurance quote<\/a> today?<\/em><\/p>\n\n\n3. Don\u2019t Make Too Small of a Down Payment<\/h2>\n
4. Don\u2019t Let Your Guard Down<\/h2>\n
5. Don\u2019t Be Too Quick to Decide<\/h2>\n
6. Don\u2019t Go Shopping if You Don\u2019t Know What You Want<\/h2>\n
7. Don\u2019t Focus Excessively on the Monthly Payment<\/h2>\n
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