Bursting Top 5 Myths While Buying A New Car

Investing in a car is probably one of the significant decisions that you will make in life. Since you will be using this car in your everyday life, it will also become an extension of your personality and an asset over which you are judged. 

Buying a new car of your dream can be out of budget for multiple people. In such cases, AutoDigg experts suggest investing in an old car to keep the burden off your wallet while you fulfill your dream. 

In this article, we will burst the top 5 myths among buyers while purchasing an old car.

 1. Dealers are a strict no

Thanks to this false assumption, many people are unaware that dealers can also provide easy finance loans with zero down payment options. Even those who know about this option are wary of the financial loan options provided by the dealers. However, if you give them a chance, they might even give you information regarding insurance. If you want to know more, here you have 210 tips for making a good cheap van insurance even better

Well, this is a misplaced paranoia. Dealers have been in the car business for a long time. Therefore, they have more knowledge regarding the EMIs, bank loans, and finance options for cars purchase. 

You should always consult them about their best deal and then decide whether it will be favorable to you or not.

2. Pay by cash for a better deal

You must have heard from people around you how paying in cash can get you the best deal. Sadly, this could be a major mistake that you might be making.

Since dealers have been in the finance business for a long time, when you pay them in cash, they lose the opportunity to make money through the commission from the financial loan options they prepared for you. 

As a result, you will also get denied of any other discount you could have possibly received.

3. Internet deals are all not about fraudsters

Internet is not all about the negative publicity it often received. As the world depends more and more on the internet, sellers have also started the used car business in this digital platform. While it is true that not all the displayed pictures are true, not all sellers are there to rob you. 

Online research can provide you the fundamental insight into car efficiency, and many sellers might pitch you for the deal. Out of these, you can choose the one most favorable for you.

By being a little careful about your purchase and taking necessary steps like personal inspection, documents investigation, etc., you can surely get a better deal. Remember to visit the authorized dealers to avoid any shady situation.

4. No warranty will be provided on a used car

With the advancement of technology, high-end, reliable cars are manufactured that last for years ahead. Thus, even a used car can be a reliable ride. However, remember, new or old, not all cars arrive with a warranty. 

For those used cars which come with a warranty, you can extend the warranty for another couple of years. At the same time, you can also choose to get your used car insured so that the maintenance can be covered.

Even while you purchase a new car, not every part is considered under warranty. We suggest that you do a thorough inspection of the automobile you are buying to get the best returns on your investments.

5. The car prices will be the same at every place

This could not be more wrong. The used car price varies depending upon the model; miles traveled, specifications of the model, depreciation value, location, seller, and other factors. 

You can rely on the internet to get basic knowledge about the market and contact the dealers from the comfort of your home to investigate further. That being said, the car price will never be the same at every place.

Indeed, fraudsters are everywhere to rob you of your hard-earned money. But being vigilant about the seller and platform from which you will buy a used car can help you bag a favorable deal, which you certainly won’t regret. We wish you a happy car shopping.

Anzhela Sychyk

Anzhela is a seasoned business journalist with a keen eye for spotting industry trends and a knack for explaining complex financial concepts in a clear and accessible way. With over 15 years of experience covering the world of finance and economics, Anzhela has established herself as a respected authority on all things business.