When you are buying a car for the first time, excitement takes over and logic goes out of the window. Most first-time buyers tend to make mistakes that haunt them for a long time. Some of these mistakes include buying a car that’s too expensive for them, skipping pre-inspection delivery, and paying high insurance premiums without understanding what’s covered and what’s not.
If you are reading this, chances are you have already narrowed your options and worked out a budget. What comes next is a tricky phase where most buyers make preventable mistakes.
So, let’s look at the car buying process and dissect one mistake at a time. You will also learn how you can avoid these mistakes and do things differently to avoid disappointments.
Your preferred car model isn’t readily available at the dealership. They tell you that they are going to need a few days to source the vehicle from their main dealership or from the manufacturer. You agree because you don’t have the time to explore other dealerships.
You make a small deposit showing your intent to buy the car. But as it turns out, the dealership fails to source the car in time, and you are hanging in there with no choice but to wait.
Nobody wants to be taken for a ride. So what do you do? In that case, make a written agreement with the exact date of car delivery and certain clauses to protect your interest if your car doesn’t arrive on time. Plus, if the car is expected to arrive in 3-4 months, the price may go up. So make sure you lock the price at the time of booking to save yourself from paying extra.
Buying Additional Insurance Products
Driving your vehicle without insurance is not only a traffic violation but also a huge financial risk. Make sure your vehicle is fully insured before you leave the showroom.
One of the best ways to go about your car insurance is to use Embedded Insurance software and let it find a suitable policy for you at the best price.
Depending on how and where you are going to use the vehicle, you may want to consider additional insurance products for your peace of mind. For example, you can get engine protection insurance that will cover all kinds of unintentional damage caused to your engine. Your regular insurance or manufacturer warranty won’t cover engine damage due to overheating issues, but a specialized engine protection insurance will.
This is where car buyers make the biggest mistake when buying a new car. It’s a brand new car, what could go wrong? Well, a lot.
Not all brand new cars are perfect. In-transit damage is a common problem that almost every dealership faces, but it’s really inconvenient and costly for them to discard the vehicle or send it back to the manufacturer for correction.
As their best resort, they get the vehicle repaired in their local workshop and sell it to the customer. That is why you should inspect the vehicle’s side panels, as well as the front and rear bumpers before taking delivery. If the panel has been repainted, the paint’s consistency will look different from the rest of the car and the paintwork may have tiny bubbles on the surface.
If you notice any of these signs, you have the right to refuse to take delivery of your car. For your peace of mind, hire an independent car inspector to accompany you to the showroom for a pre-delivery car inspection.
If it’s your dream car, you are probably going to spend a small fortune on this purchase. And you don’t want this to be a sour experience. So, keep this information in mind when buying a new car from any dealership.