Together with my colleague, Tom McParland, I’m a strong advocate for guiding individuals through the often-confusing world of car buying. While some seasoned buyers may offer valuable insights, many others reveal their lack of knowledge when discussing car purchases.
Not everyone is naturally adept at buying a car, and these individuals are often the ones who end up with a less favorable deal. On the flip side, some may adopt a tough stance and unintentionally hinder their own negotiations. Regardless of your background, having the right tools or strategy at your disposal can make a significant difference in your car-buying experience. Of course, unless you’re exceptionally wealthy and simply stroll into a dealership to pay cash for a car.
One of the worst pieces of advice I’ve consistently encountered over the years from various sources is the idea of rushing through the process. Admittedly, the entire procedure can be taxing, especially with the back-and-forth interactions between the salesperson and their trips to consult the sales manager. In reality, purchasing a car should not be hurried. Many people overlook the fact that, besides a home, a car is the second-largest purchase in most individuals’ lives. It’s crucial to get all the details right to ensure you secure the best possible price for the car you desire.
Taking your time also affords you the opportunity to carefully review the contract terms before putting pen to paper. My own mother instilled this practice in me, and it didn’t sit well with the dealers. She meticulously read each line of the contract and posed questions. What they present as legal jargon that you needn’t concern yourself with is often information they prefer you not to fully grasp because it might lead to you reconsidering the deal. If the contract spans 20 pages, take the time to read all 20. It may save you from future headaches or financial troubles.