Many drivers in the market for a new vehicle may follow rules of thumb passed around through word of mouth, but not all of these commonly-used rules have a basis in facts.
According to Edmunds.com, many car buyers fear buying a new vehicle in its first year because they anticipate that any model’s first year is when unexpected problems and defects are discovered. This myth reportedly has some basis in fact. Older models often followed this rule, but the news source reports that modern production techniques have made this cautious car-buying behavior unnecessary.
“It probably doesn’t make a lot of difference if you wait a year, because in today’s vehicles, instead of taking an entire model year of production, problems are going to be tracked down in the first few months,” the president of CNW Marketing Research explained.
He also added that this car-buying behavior is most often observed in older car purchasers who have experience with a different auto market in which such a rule was more valid, with those over 50 citing it as a major concern and those under 30 not being concerned at all.
Consumers who would like to finance a new car purchase can use a car payment calculator to determine if they can afford the new car of their choice or if they may need to explore the used vehicle market.