Top Ten Common Car Buying Mistakes That Can Lead To Disastrous Results
When it comes to buying your dream car or really any car in general, there are many common mistakes that take place that can lead to disastrous, costly results. As a veteran and leader in the automotive restoration industry, Melvin Benzaquen of Classic Restoration Enterprises, has his fair share of these problems over the years, especially with some of his customer vehicles. Below he outlines these problems and why they could lead to disastrous results that will cost you time and money, and may even break your heart.
Pine Island, NY (PRWEB) February 21, 2008 -- When it comes to buying your dream car or really any car in general, there are many common mistakes that take place that can lead to disastrous, costly results. As a veteran and leader in the automotive restoration industry, Melvin Benzaquen of Classic Restoration Enterprises, has his fair share of these problems over the years, especially with some of his customer vehicles. Below he outlines these problems and why they could lead to disastrous results that will cost you time and money, and may even break your heart
1. Buying a Car Off Of The Internet-This car buying solution is full of problems just waiting to happen. "We were brought up being told that a picture tells a 1000 stories," states Melvin Benzaquen, President of Classic Restoration Enterprises. "I Say that pictures tell a thousand lies when it comes to car buying." When you look at a picture online, it most likely won't show the thick body filler, the wavy body, the problems with the doors and the windows (like they don't open), the a/c or heat not working or any other problems that you would normally notice on an inspection or test drive. To make sure you are getting exactly what you are paying for you need to go and look at the car or hire an appraiser to do so for you.
2. Hiring an Appraiser That Does Not Have Model Specific Expertise-Someone who is not familiar with the numbers, quirks, or the weaknesses of the specific make and model of your prospective purchase could very well miss what could be potentially expensive problems. "You're best bet," continues Benzaquen, "is to use the Internet tech forums that cater to the make and model of the car and ask around about who is capable and willing to go and look at the car for you. Always offer to pay for their services, it will usually be very reasonable." The person, most likely, will be very knowledgeable and be able to give you very good direction on your potential new purchase.
3. Buying A Project Car That Is Disassembled- This is probably the worst kind of car to buy. In most cases, parts are missing, especially small important ones. Also, disassembly is easy; reassembly is not and becomes even more difficult when you did not take it apart yourself. A lot of parts can look similar but fit in different areas. To make matters worse, parts that are missing could not only be extremely expensive but very hard to locate. Keep in mind: "If you buy a pile of anything, especially a car, says Benzaquen, you are looking for a pile of trouble."
4. Buying A Car That Has Been Freshly Restored- This can be a very costly decision. A lot of the work that goes into a restoration involves proper preparation. If rust holes are filled with body filler, high build primer is used to fill deep sanding scratches or incompatible primer and paint materials are used, it could take anywhere from 6 months to a year and a half to start coming apart and becoming noticeable. Once this starts happening and you find the hidden damage, it could require a complete disassembly and an expensive restoration. This would not be a good thing, especially when you thought you were doing the right and cost effective thing by purchasing a completed restored car.
5. Buying From A Dealer- It's hard to believe that buying from a dealer can create problems, but when it comes to purchasing your dream car, it can indeed do just that. Most likely, there are always exceptions, the particular dealer you are purchasing from will not be knowledgeable about the specific vehicle and what processes it has been through. Most dealers will disclaim any liability should a problem arise by stating they were just an agent for the transaction. Unless they made false claims to you about the vehicle, the buyer will have very little recourse, and if you do decide to go after them the legal fees can many times be more costly than fixing the problems.
6. Buying From An Auction- This avenue usually has a lot of time pressure and emotions tied up in it, creating what could be a mistake that leads the buyer to overpaying for that car of their dreams. There usually is not anytime to properly inspect the car or be able to test-drive it. The auctions do a very good job with lighting and moving things along at a very fast pace. This keeps emotions running high, especially when you see the car of your dreams under the lights. Once purchased and you have left that state of euphoria during the purchase moment, you may begin to wonder why you paid so much now that the gavel has dropped. Also, always keep in mind there is a buyer's premium added to the purchase price of the vehicle as well. The auction companies, also, will claim "agent status" if there is a problem and the buyer will again be left on their own to solve it.
- Buying A Car that is a "Good Deal"- As the old saying goes, that if "it seems too good to be true, it usually is." That line of thinking holds true for car buying as well. If you find your dream car priced way under market value, you need to ask yourself the question why? 9 times out of 10 there are usually major hidden problems, incorrect major components or the vehicle has been haphazardly assembled with a "mop and glow" shine just to get it sold. Like all decisions, think about it, do your homework, check it and out and maybe this vehicle will turn out to be the deal of a lifetime or maybe not and protect yourself.
8. Hiring a Broker To Transport Your Car Instead Of A Trucking Company- This is an integral part of purchasing a car. People will spend 10's of thousands of dollars to purchase their dream car and then hunt for the least expensive price to transport their car to the shop and back home. Brokers will quote you a low-ball price and then just post your job on a board to see if someone will pick it up. This is of course, after they get their cut. You could wait months to get your prized vehicle picked up, if at all. The broker could start raising the price to try and get interest. The trucker that eventually does pick up your car could be a fly by night, uninsured driver and will not be careful with how your car is hooked up to the trailer or make sure that it is protected from other problems such as the fluids dripping from other vehicles. "We've even seen where the truckers will raise the price once they have the vehicle by telling you there was unforeseen circumstances or issues," says Benzaquen. "They have your car and they are holding it hostage trying to milk you for more money."
- Buying A Customized Car- Buying a customized car such as a street rod could pose many issues, especially when problems arise. What components were used and from what vehicle can make repairs much more costly as you or the shop will have no idea exactly what parts were used. It can be quite challenging to know exactly which components will work together and if your customized car has been properly assembled.
- Buying A Car On Impulse- This is one of the most dangerous things. You see the car of your dreams and can imagine yourself in the drivers seat or memories from your "good times" in this vehicle come flooding back and cause many buyers to rationalize and overlook any problems with the car. Once you have the car and the euphoria has worn off, you could be stuck with an expensive problem that didn't seem so bad at first glance.
Any of these mistakes or a combination of them, is very common. This is not to say that every one of these circumstances previously mentioned will result in major problems or that everyone is dishonest. More often than not, problems arise from buyers and sellers having different perspectives. However, there are an inordinate amount of unscrupulous sellers out there. It is extremely difficult to do a proper restoration and then expect to make a profit on it. This hobby should not be about making a profit but fulfilling an emotional desire. This doesn't mean that finances should not figure into the equation. It all boils down to making the best decision possible when purchasing your dream car and not ending up paying double or more to correct a mistake by not exercising due diligence. Do your homework and make a good logical, emotion free decision.
About Classic Restoration Enterprises, Inc.
Located just 60 minutes outside of New York City, in Pine Island, NY, Classic Restoration Enterprises Inc., have the experience and expertise to restore and/or modify your vehicle. After all, their company philosophy is "Do it the right way" and that's how they approach every project, offering lifetime guarantees on their work. Classic Restoration specializes in total restorations, modifications and suspension or drivetrain upgrades for a wide range of vehicles. Free nationwide pick up and delivery, as well as ballpark quotes are available on most jobs. No job is too small or too large. For more information or to get your next project started, log on to www.classicresto.com or contact Melvin Benzaquen at (845) 258-2050
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