What are the top 10 mistakes people make when buying a vehicle?
Gary Jaffarian shares 10 tips to help you avoid common mistakes consumers make when buying a vehicle. We understand and encourage consumers to do research before visiting a dealership. There are many resources online to help educate a consumer and this blog is one way we at Jaffarian share information to assist the consumer in making the best decision for their car driving needs and their budget. We fully support education and transparency for the consumer.
Gary Jaffarian’s Top 10 Common Mistakes When Buying A Vehicle:
1. Beware of skipping key research: It’s not just what you buy, but where you buy. While many people conduct extensive research on what type of vehicle to buy and how much they should pay, they often skip a critical step: researching the dealership. Resources such as Dealer Rater, Cars.com, Women Drive and the Better Business Bureau help consumers evaluate where they should buy their vehicle to make sure it’s from a reputable dealership with a strong service culture.
2. Don’t fool yourself into a false trade-in value: Check Kelley Blue Book before you visit dealerships. Buyers should know the true value of their used vehicle. There are misconceptions that can cause a lot of frustration. Of course, you want the most for your trade-in, but it is important to be informed and realistic accounting for key factors including mileage and condition of the vehicle.
3. Don’t hide your cards…and don’t let the dealer do it either: Once you’ve done your homework and determine the price you want to pay for your new vehicle and the trade-in value you want for your old one, don’t feel like you should hide that information from the dealer. Put it all on the table and ask your dealer do the same. A transparent approach from both sides will make the process faster, minimize frustrations and maximize the excitement of buying your new vehicle.
4. Only buy the features you really want/need: Don’t get fooled into buying features you simply don’t want or need. Be clear on your “must haves” vs. “nice to have,” particularly if you have a limited budget.
5. Compare leasing vs, buying before you decide. If you are a “road warrior” and drive well beyond 15,000 miles per year, leasing may not be for you, but generally leasing is more cost-effective to get you into the vehicle you want. There are many misconceptions about the benefits of leasing and for many it is a great alternative to financing. The dealer should help you understand whether it fits your budget, car driving preferences and driving habits. Make sure your dealer walks you through the differences between buying vs. leasing to help you make an informed decision.
6. Know the truth about warranties—be sure to understand what is covered and for how long and what your options are for additional plans and warranties available. Figure into your budget the benefits of an extended warranty, particularly if you are buying the vehicle outright.
7. Skimping on service will cost you in the long run. Determine where to get your vehicle serviced – it can make a difference in the long-term value and performance. By going to local service stations and drive-in oil change franchises means you may get parts that will not be from your vehicle’s manufacturer. I refer to this as “Keep your Volvo a Volvo—or your Toyota a Toyota.” The more generic parts you put into your vehicle, the less it will be what you originally paid for—affecting the value and performance of your vehicle. Vehicle service history factors into the trade in value. Be sure not to skip an oil change. It’s a small cost toward the overall maintenance and longevity of your vehicle.
8. Size matters…or does it? Are there advantages to buying from a large or small dealership? Know the difference. Again, I encourage you to do extensive dealership research for service, reputation, length of time in business, etc. If someone wants to reach me personally, you can pick up one of the red phones at the dealership and it rings directly to my cell phone. We are family-owned and we are accessible to everyone who visits the dealership.
9. Is the dealership giving back and supporting their local community? Does that matter to you? Learn more about the dealership from their website, local newspapers and other on-line sources. Not only does Jaffarian Volvo Toyota rank high with DealerRater, have 75+ years in business, but we also give back to communities in the Merrimack Valley. For many years, we have contributed to the Boys and Girls Clubs of Lawrence and Haverhill, high school sports, supported Emmaus House for homeless families and many other local community efforts. We are a dealership with a social conscience and a deep sense of giving back to our local community. For some people that matters and for others it is less important. We support locally and that matters to us and who we are.
10. Don’t forget to include the extras in your budget, like state tax for Mass. residents, Registry of Motor Vehicles charges and additional insurance costs for new models. It is recommended you speak with your insurance agent to factor in insurance costs as you conduct your vehicle research to help you have a complete picture of your finances. Keep in mind that there is not sales tax in New Hampshire and a New Hampshire resident buying a vehicle from Jaffarian does not need to pay Massachusetts sales tax.
We made it through our April Fool’s Day storm and hopefully it will be smooth sailing on the roads for the rest of the spring!