Popular Car Buying Myths Explained

Portrait of smiling woman wearing sunglasses and driving her car during daytime

How much research have you done in preparation to purchase a new car? If you’re like most people, probably quite a bit. During that time, it’s safe to assume that you have come across several tips and tricks to look out for when dealing with dealerships.

However, not everything that you read is true. Some tips and tricks do hold water, but many have more holes than a honeycomb. Fortunately, we are here to help you separate fact from fiction so that you can have a firm understanding of what to look for when you go in to buy your vehicle.

With that, here are several car buying myths along with the best ways to avoid them.

Buying Used Will Save You Money

Yes and no. Buying used will save you money upfront; however, you might end up paying more in repairs. Additionally, lower interest rates are often offered when you are purchasing a used vehicle.

A Red Car Will Cost You More

Not true. Lenders don’t care what color your vehicle is. All they care about is the year, make, model, body type, engine size, and age of the vehicle. The myth that red cars will cost you more has permeated the minds of many people, which has caused people to avoid purchasing red cars. This will actually help you spend less on a red car, as many people tend to avoid buying them. Treat yourself to the red ride!

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Paying In Cash Doesn’t Always Save Money

Paying with cash does give you quite a bit of leeway at a dealership. Simply put, you won’t have to pay interest on the vehicle if you pay cash. If you do choose to finance, you may be offered more incentives or benefits.

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