Having Anxiety About Buying a Car? Read This

Having Anxiety About Buying a Car? Read This

Posted on May 31, 2023

Buying a new car is a significant purchase. It’s a lot of money and an auto loan is a significant undertaking that will be with you for a few years. It’s natural to feel a little anxious but you can reduce anxiety from buying a car with a few simple steps.

Our auto loan team shows you how to reduce anxiety when buying a new car.

Prepare Your Finances Thoroughly

A lot of the anxiety about buying a new car comes from the finances. If you prepare those first and make it clear in your mind that you can afford the auto loan, you should feel less anxious about it.

Check your credit report. Check your credit score. Check your monthly budget to make sure you can afford the potential auto loan payments.

You can use a calculator to work out how much an auto loan is likely to be. Play around with figures until you come up with an affordable monthly payment over a term you’re happy with.

If you’re confident you can afford the loan, you should feel a lot better about it.

Perform Lots of Research

Knowing what you’re buying will take some of the anxiety out of a car purchase. If you’re confident the car you’re buying is worth the money, delivers the features and qualities you’re looking for, and is reliable, you should feel much better about the purchase.

Use the internet, use car magazines, watch YouTube videos, ask friends and colleagues and gather as much information as you can before you commit.

Book a Test Drive

So far, your new car has been a paper exercise. Now let’s make it real. Test drive a couple of cars you like the look of to see if they work for you in reality.

Test drives are essential to make sure the car other people say is great to own and drive also works for you. We’re all different and like different things. What works for a reviewer or YouTuber may not work for you.

Make sure to test drive the car(s) on roads you’ll drive regularly. Take it to a store and try to park it, drive on the highway, in town or the city, and everywhere it is likely to go when you own it.

If you can book an overnight test drive, go for it. The longer you spend with the car, the more you’ll know whether it’s right for you or not. That should help reduce anxiety.

Get a Second Opinion

If you have someone you trust, have them come with you to view and to test drive cars. Get their input as much as possible and make sure they know to be completely honest.

Sometimes having someone agree with us can validate our decision, which can significantly reduce the anxiety around making that decision.

Work With a Professional Dealership

Finally, work with professionals who can help you with the purchase. Our Guelph auto loan team can help you with the finances and our dealership team can help you with the car.

We are well-known for being friendly and approachable with none of the hard sell you get elsewhere. If you’re anxious about your purchase, working with us could make all the difference!

If you're ready for a car loan, we'd love to help with that! simply fill in the form below to get started.