Mistakes to Avoid When Buying a New Car
Posted on May 13, 2021
Mistakes To Avoid When Buying A New Car
If you’re in the market for a new car you’ve likely done your research. There are MANY resources available online for insights into tips and tricks for buying a new vehicle but what about common mistakes?
We sat down with CarHub Sales Manager, Sean Mohammadi, to gain some insights into creating a satisfying buying experience. If anyone knows the ins and outs of the car buying experience, it’s Sean. Curious about the common avoidable mistakes and the right time to buy a car? Sean’s got some answers for you!
Q: Off the cuff, what’s your number one tip to a person on the car buyer’s journey?
Sean: People who are on the hunt for a new vehicle should put in the work to dial into their driving needs before beginning the buying journey. What do you use your car for? Fun? Work? Errands? Of course, it doesn’t have to be just one thing. Once you have a good sense of what your driving priorities are though, you can move on to the next stage of the journey.
Your brand decision comes next. What brand offers exactly what you’re looking for? Are you brand loyal? If so, does your brand of choice offer what you need in a vehicle? There are a lot of options out there but once the brand is decided on, you can get into models and trims, and that’s where the fun part comes in.
Manufacturers these days have so many options in their trim lines that understanding what each trim offers is key to making informed buying decisions. Once again, doing the work upfront to define your driving priorities is crucial to making this a smooth process!
Q: What are the most common big mistakes that you have seen customers make in the car buying process?
Sean: Sometimes, buyers make a rushed decision that causes them to prioritize price over value. That may work out but often buyers find themself with a vehicle that will cost them more in repairs over the years than a higher upfront cost would have. That’s all dependent on the buyer’s circumstances, of course, but if possible I would always recommend front-loading the payment and saving on headaches down the road.
Another common mistake that I have seen is that some customers choose to use their line of credit to purchase a vehicle in cash. That means they are involving their collateral, which is their house, against their car. You are getting a loan basically. Let’s say you are purchasing a $30,000 car, but you are putting down the collateral of at least a million or more (because your house value could be more than 1 million). It’s just not a wise financial move and it’s one of the biggest mistakes that I see often.
Q: How can customers avoid common buying mistakes?
Sean: Research. It can make a huge impact on your car buying experience. Compare different models. Ask questions. Do some reading.
At CarHub, we’ll guide you through the entire process of a car purchase but we often find that our customers come in with some base knowledge of their buying options as well. People are savvy now and all of the necessary information is available online. The CarHub blog is a great source of information for people who are searching for their next vehicle.
That’s just the starting point though. We’re here to fill in the gaps in knowledge. We’re pros. We take cars very seriously. We can help answer the question of which buying method is best for you, from financing to cash. You can also get car financing pre-approval with CarHub.
I would still recommend that you do some work to understand the landscape before you land on your potential purchase. Especially if you aren’t dealing with CarHub professionals. Not everyone maintains the same level of transparency and honesty in their transactions as CarHub does!
Q: What's your number one tip for someone who is undertaking a car buying journey today?
Sean: Make sure that you’re dealing with honest and accountable professionals in your transactions. I would advise against buying a vehicle from an unauthorized dealer, which doesn’t have an OMVIC license. Also, make sure that everything is disclosed, before signing the papers with the dealership. Most people are good people but there are always some shady characters out there! Obviously, I’m biased but I truly do believe that CarHub is the safest place to go on a car buying journey. We work under a banner of CarHub Promises that includes the promise to maintain honesty, transparency, and a hassle-free environment for our community.
Also, don't forget to read our guide for first time car buyers. If you still have questions for our Carhub Sales team, we’re here to help. You can make an appointment with one of our friendly Product Advisors today. We look forward to meeting you soon!