When you can simply type “used cars Albuquerque” into a search engine box and find hundreds of private sellers online, why turn to a dealership? Are they becoming obsolete in a world with Craigslist and Facebook marketplace?
Maybe, but if you ask us, dealerships will always have a place in the buying and selling process of used vehicles. Keep reading to find out why many of us continue to need dealers when we’re on the hunt for a reliable pre-owned car.
Not Everyone Is a Car Expert
When you approach an individual seller about the car they’re hoping you’ll buy, you either have to take their word on the car’s state or do your own inspection to ascertain the truth.
If you’ve been working on cars your whole life and are knowledgeable about the ins and outs of the vehicle you’re looking at, this shouldn’t be a problem – you can determine the truth for yourself. However, if you’re someone who barely knows when or how to change your oil or replace your tires, this is more challenging.
According to Car Gurus, 80 percent of their shoppers won’t buy a car without transparent, third-party pricing data. Even if they are planning to buy from a private seller, most won’t without using a third-party auto shopping site to compare prices or research.
Dealerships are more likely to provide third-party resources and a comprehensive vehicle background check, which can instill more confidence than a stranger you just met online. Additionally, they’ll provide you with a vehicle history report for free! On your own, you’d likely have to pay a fee of $10 to $40 for one.
Not a car expert? You might feel more at ease in a dealership with great reviews than in Craigslist Steve’s driveway.
Individual Car Sellers Aren’t Always Trustworthy
Speaking of dealerships with great reviews, unfortunately, you can’t always tell if a private seller has your best interests at heart. While a professional car dealership has likely sold thousands of cars and learned how to run their business correctly, an individual seller probably hasn’t.
Whether you’re shopping for classic cars for sale in Albuquerque or just an old Honda that can get you to and from work, you want to feel like you’re purchasing a car from someone you can trust. Unfortunately, individual car sellers don’t often provide:
- Rights to cancel sales
- Lemon law protection
- Repair protections
- All the documentation you need
That’s not to say that all private sellers are crooks – there are thousands of people online who are willing to sell you a perfectly great car that you’ll be happy with.
However, it would be foolish to say that every person on the internet is thoroughly reliable and is selling you a vehicle that’s in great condition. You’ll likely need to call finance companies and inspectors to ensure that the vehicle hasn’t been deemed a “lemon” or certified as “totaled” by an insurance company.
Financing Through a Dealership Is Easier
Roughly 44 percent of American adults are currently relying on an auto loan to pay for their vehicles. Even when buying used cars, most of us aren’t going to waltz into a car dealership or a private seller’s garage and fork over a wad of cash.
Obtaining a loan for a vehicle that’s being purchased through a private seller can be challenging in some cases. Some banks refuse to give out loans for privately sold cars. How do they know that your private seller isn’t a potential fraud?
On the other hand, financing through a dealership is usually simple. Banks would often rather work with a reputable dealer they know and trust. Most dealerships offer low down payments with a wide range of finance plans, so you can find the interest rate and loan type that works best for you.
In 2020, banks do hold the highest number of auto loans – at 35.9 percent, both for new and used cars. However, at least 14.7 percent of used car loans are obtained through some kind of dealer financing, captive or not.
If you haven’t figured out how you’ll obtain financing for your used car purchase yet, take time to do some research now. You might find that obtaining a loan through a bank isn’t an option, and in that case, you could very well wind up getting a loan through a reputable used car dealership.
To Wrap It All Up
When customers are looking for a new vehicle, they’re looking for five things above all else:
- Driving comfort
Although they can find those things with a used car from a private seller, it’s sometimes easier, less risky, and simpler to go through a dealership.
Are you on the hunt for a used vehicle in Albuquerque? Get in contact! We’d be more than happy to help you out with your search! Email us today at email@example.com or visit our website to know more!