Global shortages haven’t dampened our spirit for our love cars. And as we open up again, more inventory is coming available. That’s good news because new car sales have risen, and used car sales have been up 37% since last May.
Yet, doubts about vehicle ownership have many questioning the automotive industry. People who are first-time car buyers are getting conflicting information. There are lots of myths about car ownership that confuse us about the truth.
So if you are planning on buying a car, you need some straight answers. But then, keep reading, and we’ll debunk some of the myths surrounding vehicle ownership.
Table of Contents
Truth from Fiction
There has long been a belief that the automotive industry is hiding facts from consumers. Past experiences have a lot to do with these misconceptions. But buying a car today has changed in many ways.
The biggest worry that many first-time car buyers have is getting a vehicle they can rely on for a long time. But is a new car the only option?
Myth #1: New Cars Are Better Value
A new car comes straight from the factory with no miles on the odometer. But once it’s driven off the sales lot, the car loses 20% of the value.
Depreciation occurs in all vehicles. Yet, the most significant drop comes as soon as you drive it away. Therefore, a used car with low mileage can still be an excellent investment without the hefty price tag.
Myth #2: Buying Used Is Dangerous
Not every used car will come with problems. However, it’s possible to find vehicles that receive the best car care from loving owners. All it takes is some research.
Cars get sold for more reasons than age. Some come off leases and have received regular maintenance. So when buying a car, it’s best to look at a car’s history.
Myth #3: Used Cars Don’t Have Warranties
If you are buying a car from a private seller, there is no guarantee of anything. You may also find cars that still have factory warranties left on the vehicle.
Myth #4 Cash Only
Used car dealers offer financing for most of their vehicles. And interest rates have more to do with your credit rating than the price.
Myth #5: Buy Now Before It’s Too Late
Some dealers will try to entice first-time buyers with one-time offers. But chances are the car will still be there if you don’t buy it right away.
If the vehicle was sold, there are lots of similar vehicles available. So be sure before buying a car on a whim. There’s no reason to rush into car ownership.
Myth #6: Pressure For Bigger Commissions
Many believe that salespeople upsell for a larger commission on a higher-priced car. The fact is, the commission gets set into the price. Therefore, sales staff get the same rate no matter which vehicle they sell.
Vehicle Ownership Takes Time
Buying a car is a big step, but it doesn’t need to be painful. First-time car buyers can get the most from vehicle ownership with research. So look around and compare prices.
Today, shoppers can look at cars from the comfort of home before making a deal. And the internet has also helped to debunk some of the old myths about buying a car.
So if this article revved your engine, come back for some more valuable insights.