Car buying is largely an emotion driven experience for most of us whether we are aware of it or not. It’s easy to become intoxicated with that new car smell as soon we set foot in the dealer’s showroom or see the display of shiny used vehicles glimmering under the bright lights.
Unfortunately, too many people fall prey to their emotions and impulsively make poor buying decisions, falling in love at first sight with the wrong vehicles.
As a former new car dealer for over 30 years, I’ve seen many folks suffer needlessly from buyer’s remorse, and I would like to share a few tips for buyers to think about the next time they need to buy a vehicle. Some careful deliberation can help you select the right vehicle and prevent regret.
Before heading out onto the dealer lots, here’s five tips to help you avoid buyer’s remorse:
1 – Establish your priorities. Make a list of features and options that are essential requirements for the main driver(s) of this vehicle. Don’t settle for less, even if it means choosing that one year old low mileage vehicle with everything you want it to have versus a new one without it. You’ll be happier by getting everything you wanted in the long run.
2- Plan for your future. Consider how possible lifestyle changes may impact your future vehicle needs. Do you have a growing family, will you be carpooling, or will you need to have a vehicle that grandma or grandpa can access more easily? Buying a vehicle now that can accommodate any foreseeable needs may prevent you from having to buy another vehicle sooner than you might otherwise.
3 – Ignore the advertising hype. Don’t decide to buy a vehicle simply because it has the most incentives. In the current market most popular new vehicles have either rebates or financing incentives. Making a vehicle selection with the right features that you’ll enjoy driving day-in and day-out for the next several years is definitely more important to your overall satisfaction than saving a few extra dollars on something less desireable. In general, vehicles with smaller incentives tend to hold their value better because they’re in higher demand, offsetting those few extra dollars you may save up front.
4 – Read reviews of vehicles written by their current owners. Incorporate this important element into your vehicle research. People who have been driving the vehicles that you are considering buying can provide some valuable insight into what the ownership experience is like. You can find these on many automotive websites such as MSN Autos or Edmunds.
5 – Allocate time for shopping only. Consider your purpose on the initial visit to any dealership as solely fact finding. Make a deliberate decision that you are not going to buy anything at this point. You are there to see and touch the vehicles, obtain information and perhaps test drive the models you may be considering. Allow plenty of time so you don’t feel rushed. Taking a one step at a time approach will help you from buying impulsively.