Do the homework - you won't be disappointed

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Written by Administrator

Wednesday, 11 July 2007

Irish car buyers waste millions of euro each year on bad purchasing decisions when it comes to used cars, simply because they don't do their homework. Car buyers are literally throwing money out the window by not shopping around for better advice and deals, with surveys showing that an average of 28 per cent of car decisions ending in regret.

Fifty-four per cent of us know someone who has made a bad used car purchase. According to the research, most bad decisions (45%) are made at local independent dealers, which are responsible for over seven times the rate of bad car buys compared with main line car retailers, with a further 40 per cent of respondents claiming to have made a bad car buying decision through private sales.

Thirty-two per cent of respondents quote 'lack of knowledge' of used cars as the main reason for making bad purchasing decisions, whilst 23 per cent claimed that untrustworthy sales people were responsible for driving them to a purchase they would later regret.

If they had the opportunity to do things differently, 35 per cent of used car buyers said they would buy from a trustworthier retailer and 45 per cent would insist on an approved mechanical check before purchasing. Sixty-eight per cent of people blame themselves for buying too quickly with the worst culprits being 18 to 24 year olds, who waste most money on bad buys. So take your time and don't be rushed into making the final decision.

Too many used car buyers are still prepared to risk bad purchases and waste money by trying to take short cuts on expensive items. If you want to avoid the risk of making a bad purchase, always go to a reputable car dealer, one you can trust and demand a full service checklist on every car in your shortlist.

Of the used car buyers surveyed 32 per cent claimed their lack of knowledge of used cars was the main reason for them making a bad purchasing decision with 35 per cent of men and 30 per cent of women admitting to this. Fifty-one per cent of respondents would spend more time on the purchase next time and 46 per cent of respondents would make sure their car had a thorough mechanical check.

This gives an important message: if you don't feel competent on the mechanical items, get someone who does to look at the car before you part with the money and get a guarantee from the dealer.

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