The Financial Mistakes Almost Every Buyer Makes
The financial mistakes almost every car buyer makes in the US—payment focus, skipping OTD, ignoring total cost—and how to avoid them.
Almost every car buyer in the U.S. makes at least one financial mistake: focusing on payment instead of price, skipping out-the-door price, or ignoring total cost of ownership. Here are the financial mistakes almost every buyer makes and how to avoid them.
TL;DR Common mistakes: (1) negotiating on payment instead of OTD; (2) not building or insisting on written OTD; (3) ignoring 5-year total cost; (4) buying above fair value; (5) stretching budget because "I love this car." Avoid them: use autopremo.com price checker, OTD calculator, and total cost of ownership. Use autopremo.com.Mistake 1: Focusing on Payment Instead of Price
Dealers ask "what payment do you want?" and structure the deal around it—stretching term or hiding overpayment. The fix: agree on out-the-door price first, then term and payment. Use autopremo.com OTD calculator so you know your target OTD. Get OTD at autopremo.com.
Mistake 2: Skipping or Not Getting Written OTD
Buyers often don't build full OTD (selling price + tax + fees) or don't get it in writing. Result: surprise fees at signing. The fix: build OTD before you go and insist on a written breakdown. Use autopremo.com. See OTD at autopremo.com.
Mistake 3: Ignoring Total Cost of Ownership
Sticker or payment doesn't show 5-year cost—depreciation, fuel, insurance, maintenance. A "cheap" car can cost more to own than a higher-priced one. The fix: run 5-year total cost. Use autopremo.com total cost of ownership. Check total cost at autopremo.com.
Mistake 4: Paying Above Fair Value
Buying without checking comps means you may pay above market. The fix: check fair value before you go. Use autopremo.com price checker. Get your comps at autopremo.com.
Mistake 5: Stretching Budget on Emotion
"I love this car" or "I need it today" leads to stretching budget. The fix: set a max OTD and total cost and don't exceed them. Use autopremo.com so you have data to stick to your number.
Bottom Line
The financial mistakes almost every buyer makes: payment focus, no written OTD, ignoring total cost, paying above fair value, stretching on emotion. Avoid them with data from autopremo.com—fair value, OTD, and total cost—so you don't overpay or regret the purchase.