Negotiate the total purchase price of the car first, then discuss financing. 2. Skipping the Pre-Approval Process
Salespeople often ask, "What monthly payment" If you answer, they can stretch a loan to 72 or 84 months to meet that number. While the monthly cost looks low, you’ll end up paying thousands more in interest and will likely be "underwater" (owing more than the car is worth) for years.
Research the 5-year cost to own for your specific model. A "cheap" European luxury car might cost twice as much to maintain as a slightly more expensive Japanese sedan. 4. Falling in Love with One Specific Car car buying mistakes to avoid
Keep the trade-in and the new purchase as two separate transactions . Don’t mention your old car until you’ve agreed on a firm price for the new one. 7. Buying "Add-Ons" in the Finance Office
Get pre-approved before you visit the lot. This gives you a baseline to beat and leverage during negotiations. 3. Ignoring the "Total Cost of Ownership" Negotiate the total purchase price of the car
A "Certified Pre-Owned" label or a clean Carfax report doesn't guarantee a car is perfect. Reports only show accidents that were actually reported to insurance.
Just say no to the small stuff. If you truly want an extended warranty, you can often buy it later from a third party or even the manufacturer for much less. While the monthly cost looks low, you’ll end
Emotional buying is the fastest way to overpay. If a dealer senses you "must" have a specific vehicle, they have no incentive to drop the price.