How to: Avoid Buyer’s Remorse When Car Shopping

When it comes time to buy a new automobile, many people make mistakes. Car shoppers get emotional and are affected by the color choices, interior fabric and brand name of the vehicles they desire. To ensure that you are buying the right car for you, make sure to let your head and wallet (not your heart and credit line) dictate the car you buy.

Doing Research

All car buyers must conduct due diligence when researching a vehicle. That involves reading Consumer Reports to find a car with the best ratings, researching the sticker price for the vehicle, safety features included, warranty coverage and everything else associated with the car of your choice. If you are buying a used car, you also need to order a CarFax on the vehicle and bring the car to a licensed mechanic for a pre-purchase inspection.

Conquering Emotions

When it comes to car shopping, being flexible (or at least acting like it) can work to your advantage. If you are narrowly focused and overly enthusiastic about one particular car, a salesperson is more than likely to tap into your vulnerability and take advantage of your desires. Make sure you know your total over all budget and stick with it. Many times car dealers will trick car buyers into buying more car than they really need (or actually can afford) by enticing them with low monthly payments. But if those low payments go on for several more years then originally planned for, the situation can eventually be turned upside down.

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Secure Financing

Prepare for buying a new car by arming yourself with an auto loan before visiting the dealer. Although dealers have many enticing promotional incentives for new customers, if you do not have a great credit history, you will probably not qualify. Getting your own pre-approved auto loan is a way to ensure that you will not be taken advantage of.

Negotiating Car Price

When it comes to negotiating the car price it is much better to negotiate the price upward from the cost the dealer paid for the car, not what the sticker price lists. Do not let the dealer tag on a lot of unnecessary extra either, as that will raise the price substantially.

Buying a new car should be a fun and enjoyable experience. By taking the proper precautions, you can help ensure that you will have a positive experience and limit the possibility of making any car buying mistakes and suffering from buyers remorse.

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GOBankingRates Staff

These articles are written by the in-house GOBankingRates team.

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How to: Avoid Buyer’s Remorse When Car Shopping
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