We have many dreams. Each dream has a priority tag attached to it. One of those dreams is to buy a car. When we gather enough money to buy our first car, our next objective is to purchase the one that serves our purpose well. For some, a regular sedan will suffice. While for others, even a sports utility vehicle (SUV) will not be enough. It all depends on priorities and how seriously a person takes them.
Biblical Rules that You Should Follow When Buying Your First Car
Nonetheless, one has to follow some rules when buying a car for the first time. A few of these rules should be followed in all public dealings. I call them the car buying bible. And, you can read all of them below.
#1: Don’t sign anything without research
Whether you are buying a new car or an old one, don’t sign anything. Your broker or the car agent will give you many lucrative offers and will ask you to sign a contract so that he can start the initial selling process. Don’t fall in that trap. Because signing a form means that you have committed to the deal.
It is also binding legality in a court of law. So, if you are still uncertain about buying a car, then the best bet is to wait until you have made a decision. There will be some dealers telling you to sign a contract if you want them to hold the car for you, they are probably lying. The same happens in other tangible assets like property, real estate and more. These dealers are lying on your face, and you would not want yourself to fall in a trap.
#2: Shop at the end of the month
You can get a huge discount if you shop at the end of the month. Most car dealers have sales targets that they have to meet. At the start of the month, most dealers will not decrease the car price or give you a huge discount. But at the end of the month, almost all of them are running after their targets. This will motivate them to sacrifice a little profit just to meet their targets in this way, they will be able to earn a hefty bonus.
Moreover, while buying a car, if the dealer is not trying to give a discount, even at the end of the month, you can always walk away. More on this below.
#3: Don’t Regret, Inspect
I have personally observed many people regretting buying a car for a higher price. When did I ask them why they regret their decision? Their answer was: They didn’t get the car inspected from a third party.
You must inspect the car from a third party before you buy it. Many cars look great but won’t work the same way. These are the golden geese that can’t lay eggs. So, don’t fall for these cars even if the dealers convince you and get them inspected before reaching a final decision.
#4: Set a limit & Stick With It
No matter how lucrative a deal looks to you, you should still stick with the budget you have in mind. For example, if a car is more than your budget, but the deal is simply too good to reject, try to bring the price down to your set limit.
There will be scenarios where you may have to go above your budget limit, just don’t. If the car is not within your budget and you have to work out a better offer, walk away and think about how much you can deviate from your actual budget.
Impulse purchases can lead to buyers’ remorse. It is better that you figure out all these questions in isolation so that you can analyze both the pros and cons of the deal with a sensible mind.
#5: Learn to Walk Away
The art of negotiation says that you don’t always have to stick around to bring the other person to a price you can pay. If the other party is not agreeing to your price, there is no reason to stick around. In most cases, the dealer will see you walking away and will agree to your said amount. In some cases, they won’t, and that is fine. You have a budget limit, and you should stick to it. That’s how you should buy your car, not on an impulse.
There are times when the prices drop. You never know when that happens, and there are chances when you may receive a call from your dealer agreeing to your price quote even after 72 hours. This brings us back to rule #2.
#6: Don’t Get Under Pressure
Many car dealers will try to get on your nerves. They will play the panic game and will constantly tell that the price can rise at any time, so you should buy the car right now.
In the car market, cars don’t fluctuate often, especially if you are living in the UK. A better option is to research the prices to buy cars online UK.
Car prices have fallen in the UK last year. This is mostly because of rising fuel prices and many other factors. But the crux of this tip is to not get under pressure when you can make an informed decision. Remember, you are in the driver’s seat. You can decide by doing the cost/benefit ratio before agreeing to any price.
#7 Be Wary of Add-ons
In the coming years, car dealers have started incorporating many add-ons to the cars. These add-ons include smartphone plans, data plans, trackers, insurance, and much more. Most of the time, you can opt-out of these add-ons easily by unchecking them from the contract. So, while buying a car, make sure to ask your dealer about all these add-ons and whether they will impact the real price of the car.
These are some of the most important tips you should know while buying your first car. Remember, you will learn by doing. So, just go to the car dealers and talk to them for a while. You will start to understand their tricks of the trade and will eventually come to make a wiser decision.