Avoiding Car Buyer's Remorse
Avoiding car buyer’s remorse
Making a big purchase is always daunting, and buying a car is no different. However, there are many ways to avoid car buyer’s remorse and it doesn’t have to be something that plagues you with worry for weeks on end.
What is car buyer’s remorse?
Car Buyer’s Remorse is generally referred to as the feeling of doubt felt after purchasing a new car. You may be uncertain of whether you have made the right decision, or regretful that you have chosen a car that you’re not all that keen on after all.
How to avoid car buyer’s remorse
Don’t panic too much if you experience some remorse—this is perfectly normal and to be expected with any large purchase which you have invested significant amounts of money in. Generally, buying a car should be a positive experience and you want to avoid extreme remorse, of course.
Consider your budget
This is the main thing to think through carefully to avoid car buyer’s remorse. Think very carefully about what you can afford – never hope for the best, always plan according to your exact financial means. Whether you’re getting a car loan or not, budgeting is essential.
Spending too much or stretching yourself to a finance deal that you simply can’t comply with will lead to stress, worry and ultimately fees that will cost you in the long term.
Be smart about car specifications
Do your research. Learn everything you can about the car that you are thinking of buying and make sure you understand any variations there are with different models, types, or specifications.
You’ll feel far less remorse about buying a car if you know that you’ve got exactly what you wanted. Buying a car and then finding out it wasn’t what you expected or doesn't live up to your expectations can be both disappointing and stressful.
More top tips to avoid remorse when buying a car
- Plan and prepare: buying a car is a big decision. Take some time before you even visit a dealership or look at a potential car to really consider exactly what you want and how much you’re willing to spend
- Do your research: this should involve reading car reviews and seeing a number of different cars at different dealerships. You need to have a comparison point for the car you eventually choose.
- Choose the right time: you should buy a car at the right time for you financially and to fit with your circumstances. Similarly, check out end-of-month or end-of-quarter offers—car prices often drop significantly.
- Check deposits: always make sure your deposit (if required) is fully refundable in case of the deal not happening.
- Ask for a cooling off period: this is really important especially if you’re worried about car buyer’s remorse. A cooling off period will allow you to switch or return the car if you really aren’t happy with it after purchase
This can be a big process to go through on your own so don’t be afraid to ask for help. We’ve helped tonnes of people to have a positive experience when buying a car and we want to help you.
Positive Lending Solutions has decades of experience in the car industry and we know exactly how to find the right solutions for you. We want to help you find a car loan that you won’t regret and to get you on a road where you won’t look back.