You’ve saved up for a car. You’ve done your research – although it mostly involves what colour works best for you and which model will be most space effective when trying to manoeuvre in a parking lot.
The harsh truth is, many first time car buyers make some common mistakes when they make their purchase. Here’s how to avoid them.
1. Paying for your car entirely in cash
The car dealership is a far more sophisticated business than you would expect. Car financing and loans make up a major component of a dealers profit, so there is little to no incentive for them to offer you a further discount if you choose to pay in cash.
In fact, by paying for a car in cash, you’re cutting out a potential source of income for the dealer. Also, if you’re buying an expensive car like a BMW and pay it fully in cash, the transaction may raise some red flags. Large cash transactions trigger money laundering alerts.
2. Not thinking twice about after-market products
After-market products are used to enhance the performance or appearance of the car. These are sold to customers who have just bought a car. Most car dealers generate a large chunk of commission on these products.
Many first-time car buyers often get pressured into buying after-market products they don’t need and get a bad case of buyer’s remorse.
3. Being too nice
Its best to be cautious and not give the dealer the benefit of the doubt. If you see a dent, a scratch or more drastically a leak, don’t be afraid to point it out. At the end of the day, buying a car, especially a used one, boils down to your ability to negotiate with the salesperson.
Pointing out defects lets the car salesperson know that you’re aware of the problems the car has and weakens his bargaining position.
Have doubts? Clarify them. It’s far better to have everything sorted out when you’re making your purchase, then trying to sort it out later. You’ll never get more service than when you’re making your purchase, so get everything sorted straight right from the get-go. Negotiate with all your observations
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4. Neglecting to test drive, or failing to take a proper test drive
Insist on taking it for a test drive as that can reveal a lot about the car you’re about to buy. Here are some factors you should keep in mind when test driving a car:
• Handling/Steering: Does the weight of the steering wheel feel ok? Is the steering a bit too light or sensitive for you?
In older cars, the steering wheel may no longer be properly aligned with the wheels. When you straighten the steering wheel, the tyres are not straight.
• Brakes: Do the brakes feel jammed or sluggish? Is there a strong screeching sound when you tap the brakes? This helps you determine if the brake pads are worn and need to be replaced or if there is sand trapped in between the brake callipers.
When it comes to a car’s brakes, you should be extremely cautious. From a safety perspective, there is probably no component that is more important.
• Engine/Transmission: Does the engine make a loud whining noise at higher speeds? Do the gears make a sharp screeching sound even when you change gears appropriately? Is the acceleration abnormally sluggish?
Remember test driving a car is not just a part of a negotiation, more importantly, it allows you to assess the roadworthiness and the safety of that vehicle.
You can put a price on a car but not on the value of a human life. Take your time to ensure that the vehicle addresses the safety concerns you may have.