Yep, getting a new set of wheels is one of those
wonderful sources of high-octane excitement -- but don't get too
revved up.
Car-buying is, or should be, a calculated decision.
It's a major purchase. So, before you go cuckoo for that coupe or
raving for that roadster, consider these top 10 mistakes car buyers
make.
Buying the wrong vehicle: Sure, those SUVs look big and cool, and dealers are dealing. But
do you need one to drive the mile and a half to bingo every Sunday?
Is that racy red sports car really the best choice for your family-of-five-kids-and-growing?
Showing emotions in the showroom: If you fall in love with a car, be sure not to overreact and get
too anxious. Give yourself some time to sit back and make sure it's
the car for you. In short, don't let your heart rule your head --
it can lead to aching in both body parts. Also, keep a grasp on
reality. If you can afford $20,000 and the object of your affection
lists for $30,000, you might be able to negotiate it down to, say,
$27,000, but there's no way you're going to be able to buy it for
$20,000.
Choosing a dealer by location: No, dealers are not all the same, not even for the same exact makes
and models. Ask around. Learn from friends' experiences. Also, determine
your dealer's CSI (Customer Satisfaction Index), which is a ranking
generally maintained by individual automakers for the dealerships
that sell their vehicles. Ford, for example, gives out what's called
the Blue Oval Award to dealers with a top ranking. The CSI is a
reflection of how well an individual dealer satisfies its customers
both in terms of sales and service. Ask your salesman about the
dealership's awards. If he balks, you should walk. You can also
check a dealership's complaint record with the Better
Business Bureau.
Talking trade-in too early: This is another easy trap to fall into because dealers love to play
the trade-in game. Don't let them muddy the waters. Negotiate a
satisfactory price for the new car, and then bring up your trade-in.
Another thought: If you bring in your old car full of trash and
covered in mud, the appraiser will rightly assume you don't put
much value on it yourself.
Going it alone when you need
a helping hand: If hassles give you headaches and negotiations
make you nauseated, turn it over to an auto broker or a service
such as the AAA
Endorsed Auto Buying Program, which nets members special pricing
through authorized dealers.
Forgetting that it ain't over
'til it's over: Or, in the case of car buying, it ain't over
'til the business manager sings. You may think you bought your car
once the sales manager shakes your hand and tells you what a great
deal you got. But beware the business office, often called the finance
and insurance office. Dealers often make as much money in this room
as they do on the showroom floor. Insurance, dealer add-ons, extra
fees and interest rate changes are among the common ploys you could
get clobbered with on your way out the door. |