Stretch Your Dollar: Mistakes to avoid when buying a car

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(WTNH)– New year, new car? If getting a new ride is on your list of resolutions for 2018, listen up. We are helping to stretch your dollar with mistakes to avoid.

Buying a car is a big purchase so you want to make sure it doesn’t also become a big mistake.

There are ways to avoid common mistakes that can lead to “buyer’s remorse”. Like being unprepared. Experts say you should narrow your choice to one or two models before you head out to shop.

You also want to know the features you want to avoid being talked into buying what you don’t need.

Second, try not to focus so much on getting a low monthly payment. It sounds good but to do it you need a longer loan with a higher interest rate, costing you thousands more in the long run. Instead, go for the lowest price possible.

Finally, a new car depreciates by about eleven percent as soon as you drive it off the lot so consider buying used.

Last tip is if you’re looking to save, look at cars that are being phased out or replaced with new models in the new year. They’re more likely to be discounted.

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