With the evolution of internet and technology, many new ways have emerged through which people can buy different goods and commodities. You might even remember that I posted a couple of months ago about my experience buying glasses online.
Amazingly, my perception of what can or can’t be bought online has been pushed even further! What am I talking about this time? You might not believe it, but it’s automobiles.
Over the years many people have gradually shifted from car dealership to Internet sales department. It means that people are no longer contacting car dealers to purchase a car. In fact, now they just sit and click on their screens to get access to the Internet sales department of different brands. Users can easily get access to the suggested retail price of the car that is determined by the manufacturer, invoice price, inventory, expert ratings etc.
There are still some challenges with buying a car online. Firstly, it’s a big purchse – somewhere in the thousands to tens of thousands of dollars. So you need to be able to do your due diligence! Secondly, many people are still not aware of the ways through which they can buy a car by online means.
In this article I put together a step-by-step procedure or set of instructions that can be used to buy a car online (devised by experts – not me of course!) which can help you bypass the dealership sales floor and reach the final stage of purchasing your first car online!
Here is a step-by-step set of instructions that can be used by people to buy a car online:
1. What car do you want?
The first step that one should consider is the type of car one wants. People can take help from the Internet to get an idea that what type of car they wish to purchase and what type of models are available in the market. The tools and search engines consider aspects like budget, fuel, lifestyle, economy, seating, ownership etc., hence the buyers can get a complete picture in just one click. Moreover, they should go through the owner and expert reviews along with the ratings that have been given to the car by the users. It will help them decide that whether they should consider buying that model or not.
2. Compare prices with dealers and other online platforms
After the car has been decided, the buyers should make sure that they are aware of the price they wish to pay and have the capacity to pay. The offers put forth by different dealers should be compared with one another so that the best option can be selected out of the options given. It is better to have a look at the average price that was recently paid by a user, as it will help you identify the price level that the market is willing to pay to purchase a model. An insider tip should also be kept in mind and that is to consider all the options that are included in the cost that you will pay to purchase the car.
3. Consider how you’ll finance the purchase
It is better to know the value of the goods that can be traded. Goods are accumulated for trading purposes hence if the old car can be used to purchase a new one then that option should be considered. It can help you liquidate money so that one can purchase a new car. To liquidate your car, one can trade the used vehicle with the dealer from which you are buying a new car. The dealer will adjust the price thus you will have to pay a very less amount of money comparatively. Another option is that the buyer or the owner of the used car can sell the car privately and thus it will help them generate enough money that can be used to purchase a new car. Last option is to sell the used car to a used car dealer, as they tend to provide good amount of money in return for the used car.
The element of finance should be decided before things are finalized. It is advised that one should not take the dealer financing values seriously as they are just simple advertisements that are designed mainly to attract the buyers even the ones that are not eligible enough to purchase that car. Buyers can consider taking loan from the banks in which they have an account. The car dealer can also help in financing hence the buyer should remain focused on the actual price of the car that they should pay.
4. Do a background check on the car
Moreover, the local inventory should be examined carefully. It will help you get an insight to the availability of the car and model that you wish to purchase. It will also help the buyers get an idea that how much supply is available in the market and what is the demand. The law of supply and demand can help in the identification of how these two aspects can have an impact on the price levels of the car that they wish to purchase. Every buyer should keep in mind VIN look up – that is the vehicle identification number which can be provided by CarProof. If the VIN is not listed then this means that the car is not available. The buyers should have a look at VIN and they should examine whether the pictures are of the actual vehicle or not.
After all the online research is done it is better to contact dealerships and collect price quotes. Either the website will ask you to fill out a form or you can email the Internet sales department. The concerned authorities will quote the price of the car that you wish to purchase. Be specific in terms of model and the car you want so that the dealer can give you the best offer. Compare the prices that are offered by different dealers so that you can select the option that suits your needs and preferences. The buyer can talk to the dealer to get an idea that whether a dealer gives him a better option than the one already offered by him.
5. Negotiate and sign the deal!
After you have agreed to deal with a dealer, start negotiating the price or the elements of trade in and financing. Now sign the contract and pay the final bill. Sign all the required paperwork. After all the formalities have been done now get the keys and take your vehicle away from the showroom of the dealer. Finance managers might try to sell ad on or other features; however, the buyer should avoid them as the manager is just trying to make extra amount of money through such features.