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Car buying mistakes to avoid on your next purchase

By: Louise Mosqueda0 comments

Congratulations on your decision to acquire a new car. You should know that there are a lot of responsibilities attributed to car ownership. But aside from taking good care of your vehicle, you should also be wary of making car buying mistakes.

Car buying mistakes

Don’t get caught out, here are some common mistakes to avoid when choosing a car to drive:

Forgo research

In school, teachers give you homework to provide you with the chance to read about the class discussion the next day in advance. However, kids hate having to do all that work when they’re at home. So, it’s not surprising that a lot of folks looking to acquire a car don’t do their homework.

Because of this, buyers often end up in a car with a variety of problems.

Avoid this mishap and remember to check for reviews about the car before making it a serious option for your business or family.

Not considering size

Another factor buyers tend to overlook is size. Without giving the vehicle much thought, they sometimes end up buying a car that is either too big or small. Size can cause problems along the way, especially if the vehicle in question is struggling to meet your needs.

Before selecting a car for its size, consider the typical use. Will you use it for daily use? Or for weekend long drives exclusively? How many people are expected to accommodate daily? These are questions to ask yourself when looking for a vehicle.

Price tag

Sometimes, people look at all the fancy bells and whistles and pull the trigger on the purchase. They don’t consider how much they need to pay every month. The cost of this car buying mistake can be a significant dent in your household’s monthly budget.

Avoid jeopardising your family’s income for a car, if you can. As doing so can make purchasing other necessities a more significant challenge than it needs to be. So, instead, set a budget you are comfortable with and stick to it. Look at cars within your price range and find the one that fits your needs the best.

Lease instead of Buying

Car loans and car finance is a great way to get a car. However, it does mean you need to shell out more money and pay for it longer. Not to mention, you will also be responsible for making sure that insurance, repairs and maintenance are done.

With leased cars, you can pay for rego, insurance and everything else in one go. There is also a lot less paperwork involved. But the best part is that it allows you to drive home with a smaller down payment compared with a loan.

Rushed purchase

When you’re rushing to get something done, you tend to make mistakes. It’s the same when you’re looking to buy. Rushing a purchase is a big car buying mistake.

The easiest way to avoid this is to take your time to get to know the vehicle you are about to buy and ensure that you can pay for it.

You might be unknowingly digging yourself into a hole and trapping yourself in debt that could have been avoided if you took your time to go over vehicle options.

Protect yourself from making a huge financial mistake and putting your bank account in jeopardy. Make sure you know everything there is to know before putting down money for a car.

Now, if your credit is preventing you from car loan approvals, a car lease is your friend. There are plenty of benefits for a car lease, including rebuilding your credit while paying for a car that you can use.

The best part is that you have the option to buy or upgrade your vehicle once the lease ends. That means you can drive a newer model car every five years.

Alpha Finance can help you get the best car leasing deal in Australia. Get in touch today and start your car lease as soon as possible.

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