Car Buying Mistakes - To Avoid

Salespeople often ask, "What monthly payment" If you answer, they can stretch a loan to 72 or 84 months to meet that number. While the monthly cost looks low, you’ll end up paying thousands more in interest and will likely be "underwater" (owing more than the car is worth) for years.

Avoid these traps, and you’ll find yourself with a vehicle that fits your life—and your budget—long after the "new car smell" fades. car buying mistakes to avoid

Research the 5-year cost to own for your specific model. A "cheap" European luxury car might cost twice as much to maintain as a slightly more expensive Japanese sedan. 4. Falling in Love with One Specific Car Salespeople often ask, "What monthly payment" If you

Just say no to the small stuff. If you truly want an extended warranty, you can often buy it later from a third party or even the manufacturer for much less. Research the 5-year cost to own for your specific model

The sticker price is just the beginning. Different cars have vastly different insurance premiums, fuel requirements (premium vs. regular), and maintenance schedules.

Get pre-approved before you visit the lot. This gives you a baseline to beat and leverage during negotiations. 3. Ignoring the "Total Cost of Ownership"