Car Buying Strategies to Reduce Stress
Despite all the breezy commercials, it turns out most Americans dread car buying. Why is buying a car so stressful? Let’s find out why and look at some car buying strategies that can make your decision less stressful.
WHY IS BUYING A CAR SO STRESSFUL?
How did this happen? What should be an exciting prelude to driving away in a shiny new car has become a painful process that most Americans would rather avoid. From high-pressure sale pitches to complex sales agreements to simply too much choice, it turns out many people would rather do their taxes than shop for a new car!
Why does getting that new car smell so often stink? Below we run through some of the things that can suck the fun out of finding new wheels, and suggest some car buying strategies that can help make your big decision easier.
10 THINGS THAT MAKE BUYING A CAR STRESSFUL
There are some good reasons why people find buying a new car so stressful.
1. Cars Define Us
Few things can say more about who we are and what we want from life than the car we choose to drive. Like it or not, cars can affect how we are seen and how we see ourselves. That makes finding (and affording) a car you will feel good about a big deal for many people.
2. Long-Term Consequences
Buying a car is an often unavoidable decision that can have long-term consequences. You will most likely be paying off your car for several years, while an unreliable or uneconomical vehicle can cost you far more.
3. It’s Expensive
Outside of buying a house, a car purchase is one of the biggest financial choices you will make in your personal life. It’s also a purchase that will probably lose value pretty quickly from the moment you take possession, and which will cost more money to fuel, maintain, and insure.
4. Getting a Good Deal
Few other purchases come with the pressure to get a good deal. Everyone has a friend or relative who boasts about the fantastic deal they got on their car. We all know vehicles come with big markups and trying to figure out the real price of a vehicle while worrying about whether you are overpaying is a tough sell.
5. Lack of Trust
We hate to say it, but few industries have a worse reputation than the auto industry. Negotiating a major deal in a low-trust environment is hard, and constantly worrying whether you are being ripped off can be a huge source of stress.
6. Too Many Options
Consumer choice is meant to be a good thing, but research shows that too much choice just makes us miserable. When it comes to cars, we are bombarded with a dizzying array of makes, models, colors, and upgrade options that take time and effort to understand.
7. Complex Choices
Choosing your car is just the beginning. Figuring out add-ons like additional warranties, service plans, accessories, and other options comes next. If you are financing your new vehicle through the dealership, you will have a whole lot of other on-the-spot choices to make about money down, loan terms, extra fees, and potential penalties.
8. Haggling
Haggling is one of the most hated parts of buying a car. How did it become such a central part of the typical deal? Many Americans, it turns out, would go without their smartphones for a weekend if it meant they could avoid haggling over car prices.
9. It’s Time Consuming
Yes, you have been sitting in the dealership all Saturday afternoon, thrashing out the price and other details, choosing options, and wading through the fine print. And what about all the time you have already spent researching your decision online. Long hours and lengthy negotiations just add to the stress of buying a car.
10. Getting Financing
Finding an affordable car that you like is one thing. Finding financing that works for you and your budget can be another. Whether you go through a bank, credit union, or the dealership’s lender, arranging suitable financing for your car is another potential worry.
CAR BUYING STRATEGIES TO REDUCE THE STRESS OF BUYING A CAR
There are several straightforward things you can do to make buying your car less stressful. Let’s consider a couple of these here.
Remember that knowledge is power. While it can be time-consuming in itself, checking out reputable auto industry publications and other online tools to check pricing at home means you will be better informed and prepared when you do go into the dealership.
More importantly, keep your options simple by knowing exactly what you want. Figure out what is really important to you in a car and stick to it. This will make it easier to evaluate options without getting distracted and to stand up to high-pressure sales pitches.
Finally, find a reputable partner to finance your new vehicle ahead of time. Knowing you can afford the vehicles you are looking at can reduce much of the stress of car buying, and having financing already in hand when you walk into the showroom puts you in a strong position to negotiate a great price on your new vehicle.
STRESS-FREE FINANCING WITH RED RIVER CREDIT UNION
At Red River Credit Union, we know it is easy to feel overwhelmed when shopping for a new vehicle. We are here to help you take care of financing so you can get the vehicle you were hoping to buy.
We offer:
- Competitive rates
- Quick approvals*
- Flexible payment options and
- Extended warranty and GAP** coverage to save you money.
Click below to learn more about our auto financing options.
* With approved credit
**GAP Insurance and financial services are available to credit union members, but are not guaranteed or provided by Red River Employees Credit Union. Not NCUA insured.