Though it is a depreciating asset, consumers will need a car whether the reasons are simply for transportation, projecting status, or for car-collecting hobbyists. Regardless of the reason, there are common mistakes consumers make when buying a vehicle, as discussed in the video below from CNBC.
- Revealing your monthly budget to the dealership where you’re purchasing the car
- Not knowing your credit score prior to visiting the dealership
- Rolling negative equity into a new purchase
- Loading up on extra vehicle features, which catapults the purchase price
- Not performing research on financing options
To watch the complete video, click below:
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