The 8 Biggest Mistakes – #6
Buying a used car can be one of the most stressful things that you’ll do this year. Yet, here are specific steps to:
- make the buying process easier
- ensure you get more than a good deal
- find a vehicle that will last you for years to come
I have compiled a list of the most common mistakes my customers have made when buying used cars. Making any one of these mistakes can cost you hundreds – even thousands of dollars more than necessary. Finally, you can get ahead of the learning curve and buy your next car with confidence.
Mistake #1 – Not test driving early in the buying process.
Mistake #2 – Not checking the CARFAX report.
Mistake #3 – Not looking at the vehicle inspection report.
Mistake #4 – Ignoring fuel consumption.
Mistake #5 – Ignoring Certified cars (CPOs) or extended warranties.
Mistake #6 – Don’t comparison shop.
It’s easy to find the best price on the vehicle you want by using the Internet. I use AutoTrader.com and Cars.com to discover which vehicles are available, and their price. I can narrow my search to any ZIP code in the country. LemonFree.com is also useful.
INSIDER INFORMATION – Decide which features and benefits have the most value for you, and then comparison shop. Price is just one factor to take into account.
For Example:
- If you have a long commute, a car with lower miles has greater value than one with higher miles.
- If you drive your children to and fro, a roomier minivan or SUV is important to you – but getting one with side curtain air bags may be life-saving and therefore worth more.
Here are other features and benefits that can affect you paying more – or less – for a vehicle:
- condition of the vehicle (and therefore lower or higher service costs in the future).
- added factory options or after-market accessories (but only if YOU value them).
- remaining original factory warranty, or the cost of an extended warranty.
- whether it is a Certified Pre-owned (CPO) vehicle (having its own extended warranty saves you the cost of buying one.
Price is important but it is not the only factor to take into account. Remember that each pre-owned vehicle is “one-of-a-kind.” It is your job to decide which combination of features – benefits – and price hold the most value for you.
See the next article in this series:
Mistake #7 – No buying from a reputable dealer.
