Buyers remorse is very common in the car business. There tends to be a very high level of emotion that goes into buying a new vehicle, which in turn can cloud a buyers judgement. In fact, car dealerships bank on it. It is how they are able to maximize profits.
Imagine the last time you sat in a new vehicle and the sensory overload you experienced. Can you smell the new car smell? Can you see the shiny, mirror-like paint job and the spotless, freshly detailed interior? Can you feel the leather wrapped steering wheel in your hands and the plush seat beneath you? On the test drive, do you feel the power when accelerating from 0-60? Do you feel how well it handles as you navigate through traffic? Lastly, the gadgets, ohhh the gadgets! Power seat, power pedals, steering wheel AC and radio controls, moon roof, the premium sound system, boy o' boy is this the vehicle for you! "Where do I sign?" You ask excitedly.
Stop! Now is the time to take a deep breath and use the advice I am about to give you, before you sign that 5, 6, or even 7 year contract. You must not buy that vehicle today. What you will want to do is sign one small form that can save you from a very big, painful mistake.
What is this form?
A Borrowed Car Agreement
What does it do?
A borrowed car agreement allows you the opportunity to take the vehicle over night and get away from the pressures of any car salesman, or their managers. It also allows you the opportunity to clear your head and let your euphoric feelings subside, which will allow you to think with your head and not your emotions. You can take the vehicle home and wake up to it in the morning and see if you still have those same feelings for it.
What you want to do is work the numbers with the car dealership to your satisfaction, then take the numbers and the vehicle home for the night. Now you can research the numbers, sales price, trade in value, etc. in the comfort of your home and make sure you are not paying through the roof for this vehicle.
You'll also want to ask yourself if this vehicle is practical for all that you need and/or want it to do. Recruit a family member or friend, with car buying experience, to give you all the objections to the deal that they can think of. Think about those objections, are they relevant? Is a certain objection important or not important to you? Do you agree or disagree with these objections?
The ultimate buying decision will come down to you, but getting away from the car dealership and clearing your head in a relaxed environment will help you make a much better decision. Remember, you'll be signing a long term, binding contract on an expensive product and you don't want to make this decision when you are all pumped up and full of adrenaline.
Borrow the car today and be happy tomorrow!
Justin is a Car Buying, Bad Credit Repair and Auto Loan Finance authority. He is the creator of http://www.InsiderCarBuyingTips.com In addition to offering the most informative car buying tips on the Internet, he offers the least expensive A-(excellent) AM Best rated Extended Auto Warranties on the Internet and has partnered with the #1 auto loan refinance source.
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