5. Getting a car insurance quote before the car purchase
This is a fairly common mistake as we tend to obtain that brand new shiny car before thinking about the possible insurance costs. It is advised that you contact your insurance agent for a quote on the kind of car you intend to buy, as the insurance on your old car would most likely be less than that of the new car. There may be certain coverage’s or risks associated with your new car that wasn’t factored into your old car premiums. So before you get surprised with additional premiums costs.
6. Dealer financing
Simply put this could be a mine field, the Finance and Insurance office of a dealership doesn’t necessarily have packages that favor you on the long run. They in fact bring in the larger amounts of profits for the dealership. We wouldn’t recommend this for anyone but if your able to get a very low interest rate and never more than a 36 month repayment period.