6 Mistakes People Make When Buying a New Car
There’s a lot at stake when you buy a new car. You want to be sure you get the best value for your money and make a choice that you’ll be happy with for years to come. To help ensure you make a wise purchase decision, avoid making these six mistakes when car shopping.
1. Not doing enough research
The showroom floor isn’t the place to start sizing up your options. Do some research to learn about different makes and models, read reviews online, compare costs and decide what features you want.
2. Shopping at just one dealership
To get the best deal, it’s important to shop around. Try to visit at least three different dealerships. This way you can browse more options and compare prices. Moreover, it gives you a bargaining chip when it’s time to make your purchase, as rivalry between competing dealerships tends to be very high.
3. Getting hung up on the monthly payment
A slick dealer can offer you nearly any monthly payment amount by extending the loan term or raising the interest rate. Always make your decisions based on the total value of the car, not the monthly cost.
4. Not taking future costs into account
Costs associated with car maintenance and fuel consumption differ between vehicles and are far from negligible. For example, high-end cars typically cost the most to maintain. And a gas guzzler can cost you thousands of dollars more in the long run than a fuel-efficient vehicle.
5. Not thinking about resale value
Another important financial consideration is how much you’ll get for the vehicle down the road if you decide to sell. Keep in mind that certain brands and models are generally more popular among drivers. Also, know that white, black and silver are the most popular car colours among buyers.
6. Not factoring in the cost of insurance
Insurance costs can vary a lot between vehicles. Research this information in advance. And before you make your final decision, call your insurer to get a precise idea of what your yearly insurance costs will be for a given vehicle.
Car Insurance in Nova Scotia
To get the best deal on car insurance when buying a new car in Nova Scotia, turn to the brokers at Eisenhauer Insurance. Even if you’re considered a high risk driver, we’ll help you get coverage that’s suited to your needs. For more information, or for a free car insurance quote in Halifax, NS, reach out to us today.