Buying a car is a tough decision. It is a huge investment for many. Buying the wrong car can cost you a lot, not just financially but mentally and emotionally as well.
There are some common mistakes that people make when they are in the shopping phase.
To make sure you don’t suffer from it, we have garnered some valuable information which can help you avoid these mistakes. So, let’s begin our article:
Don’t Buy a Car That Is Too Small
Every human fights the ‘want-versus-need’ battle in his subconscious mind. We often see it playing out in our daily lives. When it comes to buying a vehicle, if the buyer is young, he wants a stylish vehicle in which he can get around showing off his sweet ride and looking cool.
Here is another scenario, a man in his early 30’s feels the need for a car. Now, instead of carefully and prudently analysing his needs, he seeks fun and speed. With a wife and two small children, he wants to purchase a sports coupe. However, his wife insists that they should get a compact SUV or a minivan.
When this sports coupe enthusiast talks with the salesman, his desire is manifested. The salesman is the king of his game! He will lure anyone into buying their dream car.
Don’t let your mind succumb to an irrational desire. Let you make the decision practically and logically. If you buy a sports coupe, your small wonderful kids will struggle to sit in the back of the car after a few years.
So, when you are making the car buying decision, make sure that you are considering the factors prudently and practically. While it could be okay to buy a small car if you are financially strong or don’t have family, it does not make sense if you have a growing family or are limited by your financial budget.
Don’t Buy a Luxury-Brand Car Just for the Status
Luxurious cars come with unprecedented features. Whether it is the latest technology or great safety measures, extravagant vehicles are equipped with them. The interior of the car is comfortable and elegant. Buying an expensive car could be a worthwhile choice. However, many people go out of their budgets and overstretch their bank accounts just to have that social status of driving a luxury vehicle.
Thinking logically, all this seems irrational. If you only use your car to commute, you won’t get any additional benefit by buying a luxury car. By closely studying your transit needs and doing proper research, you can save some hefty money. To summarise the whole point, never stretch your budget to buy a sumptuous vehicle. You will always get those features and benefit in a less expensive car if you research all the possible options will diligence.
Never Lease a Car When You can Buy
Visit a car dealer showroom and the salesman will put every effort to persuade you to buy a car instead of leasing one. While these salespersons are trying to make more profit for themselves, in this instance, they are giving the right advice.
Buying a car is far bar than leasing one unless you are staying abroad for a few months or are trying to build a company fleet. Leasing is like renting, you don’t own an asset, you have it until you pay for it. And since you don’t completely own it, you have limited access to the car.
On the other hand, when you buy a car, you are the complete owner of it. You can maintain it your way, you are not answerable to anyone. The down payment and monthly payment may put some extra strain over your financial budget but ultimately, you are going to be the titleholder. The only downside of owning a car is the depreciation cost but, which asset does not lose its value over time?
Don’t Buy a Car That Is Too Big
Just like buying a car that is too small, buying a car which is too big is not a smart move either. You are still wasting your money over something you are not going to utilise completely. Bigger vehicles are expensive to maintain and don’t forget the fluctuating fuel prices. Larger vehicles give far less fuel-efficiency than their smaller counterparts.
When buying your car think about these features:
- What features would you like your car to have?
- How many passengers do you need to carry? If you are a newly married couple, consider your future children and their needs.
- What type of terrain are you going to drive on? Will you take your car on off-road trips or you will only drive on highways and roads?
You can save a lot of money by buying the vehicle which suits your needs perfectly. For instance, if you have a small family and you like going to off-road adventures — The Honda CRV KSA will be the perfect pick for you. The Compact size SUV is not only perfect for intracity transport, but it will also support you in your off-road trips.
