5 car buying myths you should stop believing!

Buying a car in the Philippines is no longer a luxury but a necessity because of the difficulty in commuting; difficult in a way that the number of public utility vehicles is no longer enough to enough the riding public. Hence, commuters tend to stay in line and wait for a ride for hours. To add more, the worsening traffic situation makes traveling time far longer than usual.

Commuting problems in the Philippines

Not everyone though is an expert when it comes to buying a car. Unfortunately, first-time buyers, even experienced ones, tend to rely on the most common car buying myths that have been passed on from generation to generation. For you to make the best purchasing decision, we here at Philkotse.com identified such myths and debunked them.

Here is a list of the myths related to buying a car, as well as the truth behind each one.

#1: You should not buy first-year models.

First-year models are units that are manufactured by the car brand for the first time. It is the first of a series, to put it simply. As such, people often believe that these models might lack the right quality. It is true that first-year models might lack some features since they will be upgraded sooner but it doesn’t necessarily mean that they have the poorest quality.

Generally, car manufacturers produce car models after several years of research and trial-and-error processes. That is done for each part of the car. Therefore, any issues might arise have already been noticed and resolved. Do note though that for any product, there might be faults that have not been noted during the quality control process. Nonetheless, the quality of first-year models will always be at par with the brand’s reputation for quality.

#2: It is always better to buy at the end of the month.

The car buying myth of getting better car deals at the end of the month is strongly linked to the dealerships end-of-the-month quota. True enough, most, if not all, dealerships have to meet a quota set by the manufacturer. As such, many assume that the dealerships would go out of their way in order to sell the number of cars that they need to meet.

The end of the month is the most critical for most dealerships

Although there is quite a truth to this, the danger is that you won’t be able to get the color of the car that you need or the exact model that you want. That is because you have to get what is available. On the contrary, you might not get any special deals since the dealership might have already met their quota before the month even ends.

#3: Once there is a deal, buy the car now or the deal will go away.

Every year, car dealerships will have promos or deals, maybe two to three times. These are usually low or zero down payment offers. People would often assume that these are somewhat similar to mall sales, which often due to advertisements that say “Limited Deals”.

>>> Click for the most updated promos offered by all dealerships nationwide on Philkotse.

However, according to experts, car deals would often last longer than expected, especially if the model is still in stock. Hence, don’t pressure yourself to buy immediately. Think about it first so that you can also determine whether the features of the specific unit are what you really want and need.

#4: Lower payments are always the best.

Definitely, when you buy a car, you would always look at what you can afford to pay monthly as well as the value of the car. This sounds ideal and wise because you are assured that you wouldn’t be in debt just because you bought a car.

When you look at the bigger picture though, you might be paying the car at a price higher than its actual cost. At times, monthly payments are lower because you pay for longer months. Meaning, the interest rate adds up without you knowing or feeling it; the same goes when you pay a lower initial payment of cars.

When you buy a car, you would always look at what you can afford to pay monthly as well as the value of the car

#5. Provide your own financing

Companies and banks that are willing to finance your car are growing in number year after year. Most people will tell you that it is better that you look for a financing company rather than going for the dealership’s financing since they offer lower interest rates. This, however, is not generally true. Sometimes, the dealership’s financing offers lower interest rates. Thus, you need to weigh your options.

Companies and banks that are willing to finance your car are growing in number year after year

The five most common car buying myths have just been debunked by this post, and we hope that it will help you become a more intelligent car buyer. Remember that when you buy a vehicle, you have to do thorough research and you have to think about your purchase intently.

>>> Find more useful car buying tips on Philkotse.com