For many, shopping is therapeutic. But, the same can’t be said about car shopping. If you are planning to purchase a car or have already bought one, you would agree that it is one of the most anxiety-invoking financial decisions one has to make. The process of buying a car is a stressful one and hence, is dreaded by most people.
Several aspects of the experience are perplexing. Car buyers are uncertain from the onset. With a wide range of information sources available for narrowing down the choices, the process becomes all the more complicated, owing to the inconsistency in the information available. All of this combined makes a buyer’s journey to the final purchase full of hassles.
Hassles of Car Buying
1. Fear of not picking the right car
We, humans, are emotional creatures. The feelings of fear and regret affect us and our everyday decisions when faced with something complicated and uncertain quite easily. Car buying is one such process that aggravates these feelings to another level. Despite the fact that today access to information is easy, the overload of information available can be quite overwhelming. Wading through a number of car loan deals, car makes, models, trims and price and making the right choice that aligns well with the needs, desires, and lifestyle brings along a lot of mental baggage.
2. Long-term commitment
You cannot change cars as frequently as other products like mobile phones, for a very simple reason that unlike the latter, a car purchase is a huge investment and requires way more planning. In a way you get tied down once you buy a car, at-least for a few years, which is difficult because car makers keep coming up with new feature-loaded cars that are hard are ignore.
The road to car purchase is bumpy and as most would agree, a long one. Owning a car is a big investment. Typically, it’s the second-biggest expense after housing for an individual car owner. Let’s look at some of the common hassles of car buying
1. Arranging Money
From buying outright to buying a car on finance, there are many ways to arrange for the down payment of the car. To fund car buying in cash one has to have enough savings, which can take months if not years, while for a personal loan you have to spend hours to analyze and pick the best deal. Often times, the wait to get the funds into your bank account is too long, which can further delay the purchase process.
Once you have the car, it then comes down to the running cost. Car maintenance can’t be ignored and sometimes can be quite heavy on your pocket, so keeping extra money handy becomes a must. To top it all, you also have to shell out money for car insurance, another quintessential part of the car purchase process.
2. Too Much Paperwork
There is an all-important step to be taken care of during the car buying process – paperwork. Yes! In a digitally-driven age, the dependency on paperwork in still prevalent. Post a lot of research and deliberation, when you finally decide which car you want to buy, you are then subjected to paperwork. It all begins with signing an agreement with the car dealership and then, taking care of the registration and insurance procedures. The paperwork involved in this entire process of registering the car can be quite intimidating.
The complexities in the existing car buying process and ownership experience can’t be ignored, but change is on its way. The automotive companies have figured the issues and are charging into the mobility market with disruptions that would uncomplicate and ease out the entire experience of buying and owning a car.