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Mistakes To Avoid When Buying A Car
Posted
July 1, 2018
Views
7,825
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112
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21
Engagement
1.70%
July 1, 2018
7,825
112
21
1.70%
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1:11Now PlayingBuying a car? Here are common mistakes to avoid making when looking for a new car.
With Independence Day specials in full swing at car dealerships, it’s one of those times of the year when shoppers will flock to showrooms in search of a good deal.
If you plan to join them, do yourself a big favor: Do some legwork.
Despite a car being one of the biggest purchases that consumers will ever make, many people end up in showrooms without planning for the transaction. While things might go smoothly, it also could end up costing you more.
The average price of a car today is about $34,600. Exactly how much you’ll actually pay for any given model depends on the negotiated price and — assuming you finance the purchase — the terms of your loan.
The average amount financed is $31,020, according to recent data from Edmunds, an online shopping guide. The average auto loan length is 69.5 months — just shy of six years. Generally speaking, the longer the loan term, the more you’ll pay in interest.
Here are some big mistakes that can lead to overpaying for a car.
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Mistakes To Avoid When Buying A Car | CNBC
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