Feeling anxious and jittery over an item that you’ve just bought? Those could be tell-tale signs of a buyer’s remorse. Although the consequences of a bad buy could be trivial for some small tickets, they could be financially disastrous if a big purchase is involved. So, if you feel any hint of doubt in booking that expensive cruise or buying that house, the best way to do is to back off and consider your options all over again.
When buying cars
Cars could be the biggest ticket you could buy during your early to mid-20s. Unfortunately, your interest in buying your first car coincides with the time when you have to start paying for your student debt, or learn more about your career, or move out of your parents’ house. During this time of changes and adjustments, can your finances handle the pressure? If not, delaying your purchase could be your best bet.
But what could be more remorseful than buying a car that you think is both powerful and eco-friendly? The disappointment and anxiety buyers must have felt when they paid a premium for a Volkswagen diesel car that promises pull without harming the environment. Unfortunately, the U.S. Environment Protection Agency found that the German car maker intentionally installed software designed to cheat emissions tests.
When buying a house
Your house could be your biggest investment ever, and so buying one leaves no room for any doubt. Look around the community. Do you feel that the neighborhood fits your lifestyle? How about its distance from your work, the school, the nearest hospital? What if you plan to add square footage? Knowing all of this beforehand can help you keep buyer’s remorse at bay.
When purchasing a contract
Signing up for the gym or purchasing a T.V. satellite subscription is never a minor thing. By purchasing them carelessly, you get to be reminded of how bad the item is whenever your monthly bill shows. So, when purchasing anything with a lock-in period, know the best product most appropriate for you.