The Biggest Mistakes People Make When Buying a Car

Buying a car requires careful thought, a review of your finances, research, and time to consider your options as you make your decision—regardless of whether it’s your first car or your fourth. As you learn more about the process of buying a car with each purchase, putting your newfound knowledge into action can help you avoid buyer’s remorse. Explore the most common car buying mistakes below to inform your next car purchase and drive away feeling satisfied with your decision. 

Only Qualifying for Financing at the Dealership

Financing your next car purchase through the dealership that is selling the car can streamline the process, but it can also put you at a significant disadvantage. You’re typically stuck with the terms offered by said dealership, which may be less favorable than those you’d find at a bank or credit union. For example, financing your car purchase through the financial institution you currently bank with could mean paying significantly less in interest than the deal you’d get from a dealership. 

Focusing on Only Monthly Payments

Dealerships, auto brokers, and online car retailers typically advertise vehicles for sale based on an enticing monthly payment. However, those prices often come with an asterisk that references a short paragraph about excellent credit scores and hefty down payments. When it comes to shopping for a car, the monthly payment is one of the least important numbers to pay attention to. 

Instead, focus on how much you’d be paying for the car in total. While a lower monthly payment may be enticing and make the car seem more affordable, you could end up paying significantly more than the sticker price. This extra investment can make it harder to profit from the sale or trade-in of your vehicle down the road. 

Foregoing the Test Drive

Buying a car without first test-driving it is similar to walking into a department store and purchasing a piece of clothing simply because it looks good on the mannequin. The cut, style, or color of the clothing may or may not fit your personality, but you won’t know that until you try it on for the first time. Thus, the value of a dressing room and a test-drive are more similar than you might think. 

Whether you buy a new or used car, a test drive allows you to experience the vehicle from the driver’s seat. Can you navigate the various functions, safely gauge where other cars are using the mirrors, and feel confident behind the wheel? A test drive can tell you much more than any online vehicle listing and help you make a more informed buying decision. 

Overlooking the Vehicle History Report

A vehicle history report includes information about a particular vehicle, from the maintenance and warranty work completed to when, where, and to whom it was registered. Although combing through a vehicle history report can take some sleuthing skills, it’s well worth the time if you can avoid a lemon. A vehicle history report can also tell you more than a test drive or visual inspection, especially for critical elements such as the engine, transmission, and chassis. 

Buying Based on Emotion

Your first car purchase may feel like a significant milestone, but it’s important to separate the emotion of this experience from the buying process. As challenging as that may seem, it benefits you in several ways, the least of which is finding a car that suits your financial circumstances and ensures you’re set up to make your next car purchase even more of a success. 

In practice, buying based on facts and numbers means viewing your vehicle purchase objectively, from the makes and models you consider to the corresponding conditions and terms. There will always be time to celebrate your accomplishment after you’ve signed the paperwork. Make your car purchase worth celebrating by finding a vehicle that suits you and your future plans. 

Paying Full Price

Failing to negotiate the price of a vehicle is one of the most common car buying mistakes first-time car buyers make. Most sales terms are negotiable, depending on where you purchase your car and how willing the seller is to wheel and deal. If you can’t get the monthly payment or corresponding terms you want, consider introducing a down payment or trade-in as a bargaining chip.

Agreeing to Add-Ons

Unless you’ve researched and feel strongly about the add-ons that dealerships or other car sellers offer, it’s often better to avoid them. You can purchase many of these items on your own and choose the provider so you know what you’re paying for. For example, the clear bra and tint that comes pre-installed is much cheaper if you get it done yourself; however, you may not be able to negotiate if it’s already installed. 

Not Walking Away from a Deal

For many prospective car buyers, walking away from a deal they’ve spent time on can feel like a waste. However, you’re not obligated to follow through with a car deal unless and until you’ve signed a contract. It’s better to start again on something new that could be more favorable than seal the deal on terms that could potentially leave you in a lurch. 

While walking away from a deal can be an effective negotiating strategy, you can risk the entire agreement if the seller doesn’t make a counteroffer. It’s important to consider this consequence if you do decide to walk away, as the terms may be gone for good. 

The Biggest Car Buying Mistake of All: Sub-Par Car Fresheners

There are many important steps in the process of buying a car, but don’t forget the most important—personalizing your new car with a luxury car freshener from Drift. Elevate your ride to make it feel and smell more like home. Sign up for our newsletter to be notified of limited-edition releases, and join the Scent of the Month Club to receive premium fragrances delivered to your door every month.