Who can benefit from a car buying service.
While everyone can save money by selecting the right car buying service, some folks benefit more than others. For example, The Auto Buying Service specializes in late model, pre-owned vehicles. People interested in these types of cars (as opposed to older cars or new cars) stand to save $500, $1,000 or more. In general, the types of folks who benefit from car buying services include:
- The Budget Manager.
$ thousands in savings attracted you to pre-owned cars in the first place. Get an additional $500 to $2,000 in savings from a qualified car buying service. Extend that vacation, cushion that mortgage payment or maybe just grow in the bank over time.
- The Enthusiast.
Heart set on a particular performance automobile? Why search 5, 10, 20 dealerships looking for the exact car only to settle for something you're not thrilled with? A properly equipped car buying service will be able select from among thousands of vehicles and over 50 sources to find the exact car you want, fast!
- The Careful Buyer.
Don't feel comfortable buying from a private party over Ebay, Cars.com or AutoTrader? Car buying services like The Auto Buying Service are licensed dealers. As such they:
- Must pass licensing exams and inspections
- Must adhere to state and federal vehicle, privacy and advertising laws
- Must subject their business to periodic state review
- Must maintain a financial bond as insurance against claims
- Should offer warranties and extended service contracts for the vehicles they sell
- Should provide you an option to unwind a deal that you are not satisfied with
- The Executive.
While few people enjoy the trip to the auto dealer, some people just don't have time. Car buying services allow busy people to break up the auto purchese into steps that can be handled at once or over time. Further, most steps can be conducted from your own home in the evenings on or the weekends.
- The Credit Challenged.
Many car buying services have as many, if not more, community lender relationships than lot-based auto dealers. As a result they can help non-prime borrowers get the financing they need... before they go shopping.
Who should think twice before using a car buying service.
Car buying services are not for everyone. While a reputable car buying service will inspect the vehicle, provide you a written warranty and means to unwind your purchase, almost all will require a deposit prior to procuring your car (and locking-in your savings) for you. Buyers that can't get comfortable with this basic fact are better served going to a lot-based auto dealership. Othe folks who should think twice before using car buying services include:
- The Car Buff.
If you want your car "tricked out" a car buying service may not be for you. While the vehicle itself is a highly standardized asset which can be valued accurately, cosmetic alterations are HIGHLY SUBJECTIVE. It can be difficult to envision both the vehicle you purchased and the effect of the aftermarket products you have selected. The result, potential disappointment.
- The New Car Shopper.
Some car buying services such as The Auto Buying Service specialize in pre-owned cars. As such, they do not offer any particular advantage over Auto Brokers when negotiating the purchase of a new vehicle. While the licensing requirements are often lower for auto brokers, they can perform time-saving, consultative services when shopping for a new car. Just ensure you shop cars outside of those that the car broker brings you so you know when he/she brings you a good deal!
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