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Learn
about selecting an auto dealer for buying a used
car.
LARGER NOT ALWAYS BETTER WHEN CHOOSING AN AUTO
DEALER
We’ve all
seen them—small auto dealers based on an old
house with 10-12 cars and trucks sitting in
their lot or on the front lawn.
While the
“smart” buyer may drive past these lots without
a second glance, you may be surprised at what
treasures you could find in purchasing a vehicle
from a smaller auto dealer.
AUTO
DEALERS
First, there is little to no room for
negotiation. This type of dealer has often purchased their vehicles from an
auto auction, which means the larger dealer has passed on trying to sell
them. The smaller dealer will sell you the vehicle knowing they have to make
a certain profit margin on that vehicle based on the cost of the vehicle to
the dealer.
While they may have a smaller selection on the lot, they are also privy to
additional vehicles they are purchasing in the near future. They may also know
of trade-ins that other buyers are using to purchase vehicles from their lot,
which they can essentially hold for you while they are finalizing the deal on
that vehicle.
Smaller dealers are also more personal in nature, making them easier to work
with. They will often give you a fairer deal on your vehicle in terms of
trade-in value, and will work with you to ensure you drive away in the vehicle
you are interested in.
Another benefit to working with these smaller auto dealers is that if you are
not pre-approved to finance a vehicle, they tend to only work with one or two
financial institutions, which means their revenue is not necessarily tied in to
the financial institution that secures your loan. They do not have an allegiance
to the financial institutions, because their main objective is to sell you a
vehicle.
Smaller dealerships will also remember you when you come back for repeat
business. They may not exercise a huge post-marketing campaign, but when you
come back by to look at another car several years later, they will not forget
you. Their repeat business is completely based on how well they treat their
customers—with respect---integrity—and with high quality vehicles.
The only warning about smaller dealerships that not all of them are high in
integrity, and not all of them carry the higher quality used vehicles. (This can
also be said of larger dealerships) Shop around a little to ensure the smaller
dealer that you choose to work with is a good dealer, with good vehicles, and
will work to gain your current and repeat business.
Buying a car from a small dealer vs. large dealer can be less intimidating, less
frustrating, and often more rewarding due to the overall experience for both the
consumer and the auto dealer.
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Learn
about selecting an auto dealer for buying a used
car.
To
teach and learn money skills, personal finance, and money
management, please go to the