Car-dinal Sins: 5 Investment Mistakes No Car Owner Can Afford To Make

by Magical Penny on August 15, 2019

Driving is a skill that transforms your entire world, but it doesn’t come cheap. Thankfully, you can make things a lot easier by following the right path. Avoiding the pitfalls is arguably the most important step of all.

Here are five that you need to avoid at all costs.

#1. Not doing your research

Buying a car is undoubtedly one of the most important consumer decisions you’ll ever make. As such, it’s imperative that you take your time and conduct the necessary levels of research. This can include looking at the frugal approach to purchasing a vehicle as well as knowing which model of vehicle is best suited to your needs. Getting ripped off or choosing a vehicle that you’ll want to change in six months time is simply not an answer.

#2. Personalised Upgrades

Every driver wants to tailor their car to their needs and preferences. And there’s nothing wrong with improving key performance features. Nonetheless, some of the personalised changes can make it far harder to sell the vehicle later on and provide a very poor ROI. Adding vinyl to the bodywork or overhauling the sound system may cause more harm than good in the long run. Stick to simple, useful tricks like new seat covers. Number plates escape this issue, though, as they can be registered to your next vehicle.

You need to make sure you've covered with breakdown coverage#3. Persisting with a faulty car

Cars encounter problems from time to time. Most minor issues can be repaired, but some require the owner to admit defeat and trade in for a better model. In truth, part-ex deals with experts like Martin Brothers Motor Company make the decision even easier. Either way, continuing to drive a car that is costing you a fortune in repairs, wasted petrol, etc. is the worst thing you can do. The short-term hit (which can be spread out with repayment loans), will pay dividends in the long run.

#4. Ignoring preventative maintenance

Attending to faults as soon as they become noticeable will have a positive impact on the venture. However, it’s equally crucial to remember that prevention is the best form of protection. As such, learning to change the various fluids or pump up the tyre pressure can make all the difference. A few minutes of work each week can stop a range of costly problems from developing, which will work wonders for your pocket. Crucially, it’s the best way to ensure that your ride remains safe and comfortable.

#5. Overlooking the need for insurance

While all above the steps should keep you protected in both a literal sense and a financial sense, you can never be too careful. Finding the right level of car insurance coverage is one of the most significant responsibilities facing any driver. Experts at Confused make it easy. Without it, your worst nightmares could come true during a crash, even if you aren’t at fault. For your finances as well as your peace of mind, you simply must not drive the vehicle until you have this in place.

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