- Before purchasing a vehicle you need to do research and plan on how you are going to make your first buy.
- Budget, the reputation of the dealership and finance options are some of the things you should consider before buying your first car.
- These tips will assist you in avoiding buying the wrong vehicle or avoid getting ripped off by a dealership.
Purchasing your first vehicle can be an exciting but daunting journey.
From finding out the type of vehicle model you desire to finding out if you are financially eligible to purchase that model to finding the most reliable insurance, it is surely not something you just wake up and decide to do.
If the process is rushed, you might end up buying a faulty vehicle that can lead you to spending large amounts of money constantly repairing it or you can get ripped off and purchase a vehicle at a rate that does not compliment the quality of the vehicle.
CEO of Mit-Mak Motors and popular social media car reviewer Bobby Petkov shared 10 tips on what to look out for when purchasing your first vehicle.
1. Research
You have to do in-depth research before buying your first dream car so that your dream does not turn into a nightmare. " Explore different makes and models, consider your budget, and familiarise yourself with reputable dealerships in your area," says Bobby.
2. Establish your budget
Bobby highlights that setting up a realistic budget before purchasing a vehicle is important. In your budget, you should not only consider the cost of the vehicle but also consider things such as insurance, maintenance, and fuel costs.
3. Check your credit score
"A higher credit score can result in lower interest rates and better loan options, saving you money in the long run," says Bobby. You are required to check your credit score so that you can get realistic financing options and you can use websites such as clearscore.com or mycreditcheck.co.za to do so.
4. Avoid waiving consumer protections
Reading your contract is essential before purchasing a vehicle because some dealers waive important consumer rights which can lead to you being unable to legally hold the dealership accountable if you encounter any problems. Seek legal advice if you are not too sure of what is being said in your contract.
5. Consider the reputation of the dealership
What other customers have to say about the dealership is important because they have already received first-hand experience of purchasing the car there. "Prioritise those with strong reputation for transparency, integrity, and customer satisfaction," says Bobby, and he advices that you utilize online resources such as Hello Peter, Google Reviews, and Facebook to verify the dealership's service from previous customers.
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6. Test drive multiple times
Test driving multiple times will allow you to compare multiple vehicles on multiple roads and you can experience the performance and comfort of the vehicles. "Pay attention to how the car handles different road conditions and ensure it meets your expectations before committing to purchase," Bobby alluded.
7. Get a pre-purchase inspection
Have your desired vehicle inspected by a qualified mechanic before purchasing it. This will help ensure that the car is suitable for consumption and uncover any hidden damage that might have you paying additional costs in the long run.
8. Understand financing options
"Consider factors such as interest rates, loan duration, and down payment requirements. Don't hesitate to negotiate with lenders to secure favourable terms that fit your budget and financial goals," Bobby stated as he highlighted how there are different financing and loan options when purchasing a vehicle.
9. Understand extended warranties
Add -ons and extended warranties may seem necessary and beneficial, but some are just irrelevant and might lead to you paying unnecessary additional costs.
10. Trust your instincts
Bobby concluded by advising first-time vehicle buyers to trust their instincts. He said, "If something feels off or too good to be true, don't hesitate to walk away," emphasising how big of an investment a vehicle is and that if you are in doubt then do not make a purchase.
