Buying a new car online can be an exciting and convenient way to shop, but it also comes with challenges. With the ease of browsing and purchasing from the comfort of your home, it’s easy to overlook certain aspects that can lead to costly mistakes. Whether purchasing your first car or upgrading to a newer one, staying informed is important.
Researching different online platforms can help gather insights, but ultimately, you should ensure that you’ve thoroughly researched the cars and pricing. By avoiding these common mistakes, you can make a smarter, more informed decision when buying a new car online.
Not Doing Enough Research on Models and Prices
Before starting online car shopping, research different makes and models that fit your needs and budget. Then, check consumer reports and reviews about reliability, safety, performance, and ownership costs.
In addition, compare prices to get an idea of typical pricing. Going into the buying process and being informed on realistic prices, features, and reviews will help you evaluate deals accurately.
Failing to Get Pre-Approved Financing
If you need financing, get pre-approved for an auto loan before starting your search. This lets you know your budget and interest rate upfront rather than being swayed by dealer financing offers that may not be the best terms.
Online lenders like banks and credit unions will provide pre-approval letters so you can shop for your car. Having your financing also strengthens your negotiation position on the car price.
Not Checking all Costs and Fine Print
It is a common mistake when buying a car online. While listings may advertise alluring prices, the final cost often increases once taxes, registration, documentation fees, and any seller add-ons are factored in. That’s why it’s crucial to scrutinize the fine print regarding additional costs and the specifics surrounding the advertised prices.
Skipping the Test Drive
Given distance constraints, you should still do an in-person test drive of an online vehicle purchase before finalizing. This allows you to assess comfort, performance, noise, steering, and braking—all factors you can only evaluate from driving it.
While online platforms like ACKO Drive can offer helpful information about a car’s specifications, nothing compares to the experience of taking the car for a test drive.
Paying Full Price Right Out the Gate
Even though online car listings show a non-negotiable price, there may still be wiggle room. Don’t assume the internet price has no flexibility or chance for seller incentives.
Before paying the asking price, negotiate firmly and see if they will come down or throw in any extras. The worst they can say is no.
Not Checking the Paperwork
Proper documentation verification is essential when buying a new car online from authorized dealerships in India, yet it is often overlooked. Request and carefully review all paperwork before making the final payment. This includes the proforma invoice detailing the exact variant, color, and all costs, including the ex-showroom price, registration charges, insurance, and GST.
Ensure you receive a complete breakdown of all charges, including road tax, extended warranty costs, and any additional accessories or services offered. Pay special attention to the insurance quote, as dealerships sometimes include insurance packages you might get cheaper directly from insurers.
Before delivery, insist on receiving copies of the temporary registration certificate, insurance policy, and warranty booklet. Also, verify that the original RC will be delivered within the given timeframe.
Not Negotiating the Price
One of the buyers’ biggest mistakes when purchasing a car, especially online, is not negotiating the price. While many buyers assume that the listed price is final, it’s essential to thoroughly research pricing and compare quotes from multiple dealers.
There is often room for negotiation, and with online car shopping, you can easily communicate with dealers to ask for discounts or better deals. Being hesitant or shy to negotiate can lead to overpaying, even when there are opportunities for savings. A little bargaining can go a long way, helping you secure a better deal on your purchase.
Conclusion
Buying a new car online can be a great way to save time and effort, but only if you avoid the common mistakes that many first-time buyers make. By conducting thorough research, reading the fine print, considering all costs, and ensuring proper financing, you can make an informed decision that suits your needs and budget. Patience and attention to detail are key to making your online car-buying experience successful!
