Let’s be honest, buying a car can be one hectic process. First-time buyers mostly in Kenya tend to make many mistakes when buying their cars which we are going to look at today. If you are planning to join the car owners club in Kenya very soon, kindly be keen not to make the following mistakes.
1. Not doing Proper research before Buying
In this era of the internet, it’s very vital to do some research and establish a shortlist of cars before you go out shopping. Why not just go your preferred dealers’ websites’ and look at your favourite cars? Also, make sure you take your time, do intensive research, and read the professional reviews about the car.
2. Buying the first car you did a test drive with
If you’ve been driving your old car for more than a few years, any new car is going to feel great. Don’t fall in love too fast: It’s best to drive several cars before making a decision.
3. Negotiating only on the monthly payment
Most people think of the cost of a new car as a monthly payment, and that’s fine—but don’t make the mistake of negotiating a price purely on the payment. That gives the dealer the opportunity to do something sneaky that will drive up the price of the car, such as extending the term of the loan or adding money to the down payment. When you are negotiating, make sure that every offer from the dealer includes the total price you will be paying for the car.
5. Not bringing a calculator
Dealers do the math on car deals every day; buyers do it once every few years—so who has the upper hand? Be sure to bring your calculator (or, better yet, a smartphone with web access, because car loan calculators are easy to find) so you understand how your monthly payments total up and how much you will actually be paying for the car.
6. Not looking for alternative forms of financing
Many buyers negotiate their monthly payments with the dealer, but did you know that there are other ways to finance a new car? Banks and credit unions offer new car financing, and often at better rates than dealerships. Before you go car shopping, get qualified for a loan from a third-party lending institution.
7. Not inquiring about insurance costs.
We’ve seen this one happen over and over: Someone buys a new car, only to be stunned by insurance payments that are nearly as high as their loan payments