The idea of purchasing a new vehicle is exciting. The new car smell, flawless paint, and immaculate interior are all things that are undeniably appealing about owning a new vehicle. Then there is the dreaded car payment. Also, the fact that you are committing yourself to making this car payment for up to 6 years. Am I the only one who feels nauseated when a salesman starts listing figures? I suppose this is what people call buyer’s remorse. Purchasing a vehicle isn’t like a pair of shoes you can return if they don’t fit, it is a huge financial undertaking.
For me, it is not about being able to afford the vehicle, it is about the thought of being overextended in the event of a life altering incident. Thinking of the future, and how unpredictable it can be, ensures that my stomach starts churning the moment I think of making an expensive purchase. Then I wonder why am I stressing? I spend a lot of time in my vehicle, I deserve to be comfortable, and I work hard. I should have a reliable vehicle, a vehicle I want, that will accommodate my family comfortably. Even with those thoughts in my head, I am still faced with lingering anxiety.
For this purchase, I did my homework. I determined the type of vehicle I wanted and the features I desired in that vehicle. Nothing fancy, just items I knew were important to my desired level of comfort. I also researched pricing. I always do my research beforehand, that way they know I am knowledgeable, and don’t attempt to take advantage of me. I can honestly say, I have never purchased a vehicle and felt like I didn’t get a good deal. However, then I wonder, are we all led to believe we are getting a good deal?
Am I a good negotiator? I couldn’t say whether I am or not. However, I can say, that I am not afraid to push back. If someone wants to make a sale, they are going to be willing to negotiate, within reason. The problem a lot of individuals have is that they want to haggle, and that’s not me. If I feel I am being treated fairly and being presented with a reasonable offer, then I will gladly make a purchase. However, if I feel like I am being taken advantage of, I will walk away from a deal, without a second thought.
A Few Tips When Purchasing a New Vehicle
- Consider if you truly need a new vehicle.
- Always do your research!
- Know what you want.
- Know what you can afford.
- Set a budget and don’t go over it.
- Bells and whistles are nice but opt out of features that you don’t need.
- If you are financing a large amount, make sure you purchase guaranteed auto protection insurance (GAP).
- When they try to sell you extended warranties, service packages, and paint protectant, which they will, ensure the numbers make sense. If they don’t, say you’re not interested, and most likely they will come down. However, if the numbers still don’t make sense, decline anyway.
Purchasing a new vehicle can be overwhelming, but if you follow these tips, hopefully, the process will be less stressful. It is a huge financial commitment, one that shouldn’t be done hastily. Keep your expectations within reason and know that even if you get anxious like me, those feelings will subside. Good luck on future purchases!