Investopedia: 7 car-buying mistakes that cost you money

On February 16, 2016 in AutoClassic CarNew CarPrivate PartyUsed Car

Investopedia: 7 car-buying mistakes that cost you money


Sometimes you fall in love with a car — and there’s nothing wrong with that. If you’re not careful, however, the dream of driving new wheels can cloud your judgment as you go through the car-buying process. According to Investopedia, many people are at a clear disadvantage.

“While car dealers practice their craft daily, most consumers only purchase one car every few years. And yet, many of them confidently walk into a car dealership without doing any homework. Sean Stein Smith, a New York-based CPA, tells Investopedia there’s no room for ignorance when buying a car.”

If you don’t want to pay more than you should, it’s important to do your homework, say three experts interviewed by Investopedia.

“In an age when there is virtually unlimited information available online, for free, about vehicles and specific options, many people still do not do their research before walking into a dealership,” says Smith. Since purchasing a car is usually a consumer’s largest purchase, next to buying a home, Smith says it’s well worth the time to conduct research beforehand.”

See the entire Investopedia story here.