Buying a new car is a lot like buying an engagement ring for your wife to be. You know you need to do it, and the woman will most likely really enjoy what you get her, but if you’re not careful, you could make a lot of mistakes and end up getting had. You might think you’re getting a good deal, but in the end you find yourself with a diamond that has all sorts of imperfections and does not shine light very well. The same is true for an automobile, if you aren’t very careful, you can make four or five figure mistakes. Here are some major mistakes that people make when they buy cars, trucks, vans and other automobiles.

Only Worrying About the Monthly Payment – A lot of people are under the mindset that they will always have a car payment, so they only worry about the price of their monthly payment. Don’t fall for the myth that you will always have a car payment. Save up, pay cash, and upgrade when you have the money.

Trading In Your Existing Car To The Dealer– A lot of people trade in their car to the dealer because it’s a lot easier selling their current car separately. However you will take a major hit because the dealer will only pay you a wholesale price, and chances are you can sell it for 20% or 30% more than what the dealer is willing to offer you.

What Test Drive? – Every now and then a person generally knows what kind of car they want, they find one for a good price and have already driven a similar car, so they don’t think they need a test drive. You never know what kind of quirks a car might have, so you should always test-drive it for at least 15 minutes or better yet more.

Finance at the Dealership – If you’re going to finance your vehicle, don’t finance it with the dealership. Shop around at a number of different banks to see which can get you the lowest rate. If you don’t, it’s up to the care salesman to decide what kind of loan you’re going to get. This way you can also focus solely the price of the vehicle, and not just the terms of the loan.

Not Having the Car Checked Out – Always have your car checked out by an independent auto-mechanic to make sure everything is on the up and up when you buy it. Don’t end up buying a car that appears to work just fine, but has some several mechanical problems that aren’t apparent when driving the vehicle. This happens a lot more than you think, so be sure to have an independent auto mechanic check out your vehicle before buying it!

Of course these are just a few of the many mistakes that people make when they buy their next vehicle. If you know of any more, be sure to let us know by commenting below!