Car buying myths range from absurd to mundane and hilarious. While most of them are harmless and do not meddle with your knowledge of buying and maintaining cars, some other myths can make you lose both money and time. The ten biggest car myths below have been gathered after conducting extensive research on numerous car deals made every month, both from the web and the dealership.

Overdriving makes you go faster.

Overdrive is the highest gear in your transmission. For a given vehicle speed, the engine of your car will turn a lower RPM, which will give you better fuel mileage. The engine does not have the torque to reach anywhere near its redline. With Overdrive, you might reach the redline, but you will burn more fuel.

Using premium fuel adds power to your vehicle.

Most fuel companies offer premium unleaded petrol, which they claim greatly improves your vehicle’s power and reduces fuel consumption while protecting the engine. With their cost being approximately 10p more than standard unleaded petrol, many car owners are confused as to whether accommodating that extra cost in the fuel budget is worth it. The fact is that premium unleaded petrol might improve your fuel efficiency by a whisker. However, increased power and performance will largely depend on the vehicle you drive, the way you drive and the kind of roads you take. Refrain from paying heed to such car myths and get into understanding your vehicle better.

Torque wins races, and horsepower sells engines.

This popular quote by Enzo Ferrari has been the topic of numerous debates. Had that been the case, why does every motorist get worked out about peak HP numbers and rarely discuss torque or torque curves? Horsepower is a unit of power, while torque is force times distance. Different engine configurations will develop different horsepower and torque characteristics across a given range of engine speeds.

Red car costs more insurance.

Red cars might look stunning, but they definitely do not cost more to insure. These cars are treated like any other cars with a black, blue, or yellow shade. In fact, most insurers do not even inquire about the colour of your car before zeroing in on the premium amount, which is largely dependent on the make, model, engine size, and age of the car.

The internet is the best place to receive the best deals on cars.

Well, this is a car myth, as the only aspect that is finalised over the Internet is the price of the new car. However, did you know that there are other things that need to be negotiated, such as the finance interest rate or lease, extended warranty, and the trade-in prices of a deal? Most web dealers transfer your information to other dealers who are willing to sell some of their new cars at a pre-set price. The best way to compare deals is to explore the web and pay visits to dealerships.

Read all the literature carefully in the contract.

Reading and memorising each and every word in your sales contract is an old process and largely a car myth. All you need to do is carefully review the numbers furnished. You should be aware of what you are signing for and then strike the deal.

Paying for your car in cash makes you a smart buyer.

Paying all in cash might yield benefits in other areas, but not when you decide to buy a new car unless the car manufacturer offers cash-only incentives to its customers. This is a car myth. Dealerships get incentives if they manage to get you a financer and might have their own marketing strategies and discounts to entice their customers. Therefore, if you rather choose to pay the entire amount in cash, it might not excite them as much.

Smartly playing with the dealership will help you get a better deal.

Smart playing might help you somewhere else, but never when you are about to strike a car deal. It is a car myth. In fact, since car salespeople have a well-known reputation for being superb negotiators, you need to be extremely careful and strategic to strike a decent deal. Know the worth of the car you intend to purchase, do not make any commitments during the first meeting, and follow up regularly concerning the price before making your purchase.

Rainy days are better for making car deals.

An old saying goes that rainy days are the best to make car deals because the bad weather keeps the other buyers away. Well, it sounds hilarious to visit the dealership on the last day of the month to get the maximum discounts on new cars. Any other day is as good as rainy days as long as you can strike decent deals through proper negotiation.

Getting your vehicle special ordered will cost you more.

Numerous car buyers often wonder if it is possible to directly order a car from the manufacturer’s factory. However, you still need to go through the dealer. The biggest advantage of special ordering a car is equipping it with your desired colours and configurations. This does not mean that you have to pay more. This is a popular car myth which even experienced car buyers would not know. In fact, you might be subjected to rebates and discounts directly offered by the manufacturer. However, the only disadvantage is that you might have to wait for months before your car is ready to be delivered.

Whether you are about to become a new or existing car owner, keeping a watchful eye on your vehicle’s performance and gathering information on it on the web is the key to being at the top of your vehicle buying, running, and maintenance game.