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Sunk-Cost Fallacy: Feeling like you need to buy the car because you’ve already spent so much time at the dealership.
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Anchoring Bias: Getting stuck on the first price you hear and letting it shape all your other decisions.
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Confirmation Bias: Only paying attention to information that supports your desire to buy the car you want.
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Availability Heuristic: Basing your decision on a recent story or experience, like a friend’s good or bad deal, rather than the full picture.
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Loss Aversion: Rushing to close the deal because you’re afraid of missing out on a special offer.
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Overconfidence Bias: Believing you’re better at negotiating than you are, which leads to hasty decisions.
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Recency Effect: Letting the last thing the salesperson said influence your decision more than anything else.
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Social Proof: Feeling pressured to make the same choice as other customers because you think it’s the safest bet.
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Scarcity Bias: Deciding quickly because you’re told the deal or car is in limited supply.
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Framing Effect: Being swayed by how the dealer presents the information, like focusing on low monthly payments instead of the total cost.
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Bandwagon Effect: Choosing a popular car or financing option just because everyone else seems to be doing it.
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Emotional Bias: Letting the excitement or pressure of the moment cloud your judgment and lead to impulsive choices.
By understanding these biases, you can make more informed and thoughtful decisions when buying a car.