Buying a car is no small thing for most people. In fact, it's a very big deal-especially when it's for the first time. In all the fuss, it can be easy to get overwhelmed or too excited. That's normal and nothing to worry about in particular.
In this blog, we're going to help you as you find the best vehicle for you by sharing common errors you should avoid when purchasing a car!
THE COMMON ERROR: Prioritising what you want over what you need.
AVOID IT BECAUSE: Just because you really, really, really want that two-door sports car doesn't mean it's practical and will be best for your needs. Yes, that popular personality looks great driving an awesome car down the highway in that commercial. Deciding or doing things solely based on those feelings will be incredibly counterproductive.
This doesn't just apply to sports cars, either. Some people think they want a major 4x4 and it will be great form. However, if driving around solo in traffic on busy work days is all that will end up happening, maybe that's not what's best.
You should really take a long hard look at what you actually need. At most, you should be able to reach a compromise between the car features you want and what you need.
THE COMMON ERROR: Announcing the purchase prematurely.
AVOID IT BECAUSE: Let's face it, we've all done this at some point. In our excitement, we spill to loved ones that we're about to make a huge decision. "I'm finally getting a new car!" and "My [make] / [model] is arriving in two weeks!" are major pronouncements, especially if the finances aren't straight yet and no paperwork has been signed.
The expectations this creates, especially when there's 0 research that goes into vehicles and finances haven't even been looked into yet, can be rough. Comments like "I thought you said your [make] / [model] is coming today?" can really make a huge difference. Many people end up in a position where they feel like buying a car to meet that timeframe is necessary even when they're actually unprepared.
If you really have to talk it through, choose people you trust and use phrases like "looking at [make] / [model]" or "thinking about buying" instead.
THE COMMON ERROR: Choosing to overlook red flags.
AVOID IT BECAUSE: Used vehicles are expected to have some wear and tear, but there should still be standards in place. If you fall in love with a car under this category, make sure you know every single thing about it. Look into damage, service log books (missing ones are not a good sign at all) and whether it's really worth the price.
In case you feel like you don't know enough about cars to really check things out, consider investing in a professional inspection.
Purchasing a car is a very exciting time in a person's life! So much so, however, that it's easy to be overwhelmed or get too excited. At that point, common errors can be made such as overlooking red flags, prioritising wants over needs and announcing the purchase prematurely.
Trying to get an auto loan in Sydney? Contact Wealthy You today! We’re an Australian mortgage company that has serviced Sydney for nearly a decade.