The Biggest Mistakes Car Buyers Make (And How to Avoid Them)

Part 1 of 2

For a lot of people, buying a car is one of the biggest purchases they will make, but too many buyers leave money on the table; or worse, end up with a deal they regret.

• Mistake #1: Not Researching the Market: Car prices fluctuate, and knowing what other dealerships are charging for the same make and model can save thousands of dollars. Always research fair market values before stepping into a dealership.
• Mistake #2: Focusing Only on the Monthly Payment: Dealers love to stretch loan terms to lower the monthly payment if a buyer is financing, but that often means paying more in interest. Look at the total cost of the loan, not just what's due each month.
• Mistake #3: Ignoring Additional Fees & Add-Ons: Dealers sneak in extras like unwanted warranties, charge extra for nitrogen-filled tires, and other bogus packages. If you don't know what you're paying for, you are definitely wasting money.
• Mistake #4: Buying the Wrong Car: The price of a car is important, but so is getting the right car the first time. Buying a specific car only for the lower price might lead to regrets. These regrets could lead to premature selling of the car and buying the right car the second time, which can lead to more money out of your pocket vs. buying the right car the first time. My dealership used to say "pay me now, or pay me later," sometimes it makes sense to pay a little more to get exactly what makes you happy the first time.
• Mistake #5: Not Consulting a Professional Car Buyer (Your Car Haggler): The easiest way to avoid all these pitfalls? Work with a professional car buyer and negotiator. We handle the research and negotiation, so you don't have to.