ALT-10 Common Mistakes Buyers Make at Car Dealerships
Operating an automotive consumer web site for the last ten years has given me unique insight to the kinds of mistakes people make when buying or leasing cars. I have received thousands of emails during that time. Readers present their problems and ask for answers and solutions. Many of the problems show up over and over again, indicating a need for general consumer education, which my web site attempts to provide.
One of the most common mistakes, or misunderstandings that leads to mistakes, is that of assuming there is a 3-day "grace" or "cooling-off" period in which a car buyer is allowed, by law, to return a car they decide they don't want. There are no such laws for automobile purchases but the presumption that the laws exist leads many buyers to make quick decisions, believing they can return the car later if they want. It is a hard blow when they find out later that they never had the right.
Another common mistake is dealer-induced leasing. Leasing is a perfectly valid method of automobile financing, but it's not right for many people, especially those who don't understand how it works. Unfortunately, dealers don't mind recommending leasing to unqualified candidates when a deal is at stake. If a lease provides the lower payments that allows a customer to afford the car they want, then leasing is induced to save the deal. Customers often don't read their contracts, before or after signing, and are surprised when the complexities of leasing cause them problems. Car buyers should not lease unless they know how it works, drive no more than 15,000 miles a year, take good care of their vehicles, and are prepared to complete the entire lease term.
The most common mistake made when buying a used, previously-owned car is not having the car inspected before making the purchase. My records are filled with stories from unfortunate used-car buyers whose cars broke down the next day or next week after the purchase. They all assume that they have some rights to return the cars or in some way get compensated for the problems. Most do not understand that used cars are sold "as-is" and that there are normally no warranties, guarantees, or legal recourse, even when the seller has misrepresented the condition of the car. Therefore, used-car buyers should always use a qualified mechanic to inspect any car they may be considering. Additionally, they should purchase a CarFax vehicle history report.
