Buying a Used Car From a Dealership | Dealer vs Private Seller
When it comes to buying used cars, confidence is everything! Unlike new cars with a sticker price and a warranty, a used car (pre-driven) can be less transparent. With so many variables, more and more people are searching the internet for answers! Where can I get my best deal? How can I be sure the used car is reliable? Is it safe to go to a private seller’s home? Today, you’ll discover Buying a Used Car From a Dealership | Dealer vs Private Seller
The Best Used Trucks for Sale Come with This!
Popular Valparaiso Chef Chris Pavlou navigates the Grieger’s website for a used car. Online tools save time and money
Used car buyers have more information and shopping tools than ever! As a consumer, you can enter a make and model and instantly see hundreds of cars for sale. Of course, they all look good on paper. It’s like a dating app; you don’t know what you’ll see until you get there. With so many used cars at your fingertips, how do you find the time to drive to every private seller or car dealership? Let’s face it: we all wish we had more time to enjoy life. Why would anyone want to spend all their free time looking for a used car? What can be worse than spending a bunch of time driving to parts unknown to look at a mint-conditioned vehicle, only to discover it runs bad and the photo isn’t legit?
As they say, you can put lipstick on a hog and call it Monique, but it’s still a pig. Perhaps a better analogy would be putting mascara on a Ram and calling it a she/sheep/ewe. Any way you dress it up, the best used trucks for sale are well-maintained and can be counted on to go the distance. A great used truck should run as well as it works!
The only way to know if it’s a solid used car is to have it inspected by a certified technician and hold the seller accountable! You can pay an independent mechanic to inspect the car, but that gets costly and time-consuming. Better car dealerships have certified mechanics qualified to inspect the car before putting it on the lot. Edge- Car Dealership
Make Sure Your Used Car Reflects The Summer’s Price Drops
Then there’s the matter of the market! It’s no secret that used car prices went through the roof during the pandemic. Fortunately, prices for used vehicles began dropping earlier in the summer, with wholesale used car prices dipping nearly 8% from a year ago. The wholesale price is what dealers pay for used cars at auction. Typically, wholesale price drops are about six to eight weeks before retail prices drop- which means a market drop is always a good sign for used car shoppers.
On the surface, this might indicate that now is a great time to buy a used car, truck, or SUV. Right? Unfortunately, it depends! Retail prices are based on market value. Used car prices will only be lower if the dealer pays less. So if a dealer bought the car at auction before the price dropped, you’ll pay more than if they bought it after the drop. Larger volume dealerships such as Grieger Motors turn their used car and truck inventory almost weekly.
Conversely, smaller used car lots and private sellers typically have smaller turns in inventory. Slow-moving inventory typically means the used car lot brought the used car before the price drop. Private sellers generally are unaware of market supply and demand and reference whichever book values work in their favor. As they say, books don’t set prices; the market does! Edge- Car Dealership
Used Car Tips | Save Time & Money
Do your homework before shopping for a used car from a new car dealer, a small lot, or a private person! It may save you serious time and money. Consider the kind of car you need, how you’ll use it, and your budget. Will anyone else help you make a decision? Get them involved. It will make it more enjoyable, and you’ll streamline your efforts.
Don’t forget other costs like registration, insurance, gas, and maintenance. Research models, options, repair records, safety tests, and mileage. Once you have a car (or cars) in mind, get the out-the-door prices in writing from dealers before you visit. You’ll save time and money by buying your used car from a car dealership or private party that posts everything you should know upfront. Grieger’s Brad Hallal boasts of his dealership’s “No Bull Pricing” approach. Each used car for sale on their website comes with its best price and 360-degree virtual inventory and is updated in real-time. I like the idea of knowing what it will cost before spending time driving somewhere.
Despite their transparent approach and multi-point inspection by their service department, Hallal believes the key to creating a satisfied used car customer is helping people find what they want and delivering on expectations. “Most people shopping for used cars are more concerned about trusting the person or dealer they buy the vehicle from. Ultimately, they won’t be happy if the used car doesn’t meet their needs and expectations. Customers must have online shopping tools to discover what they want before taking a closer look or buying!”
When it comes to saving time, we think dealerships with virtual inventory and transparent pricing are a huge advantage of buying a car from a new car dealership. Edge- Car Dealership
Tips for Buying a Used Car or Truck! | Confessions of a NWI Used Car Dealership
1) Confirm that advertised prices, discounts, rebates, etc., are being applied.
2) Confirm that the vehicle is actually on the lot.
3) Find out about the dealer before you visit. Established Dealerships embedded in your community are a great start. Contact your state and local consumer protection agencies to determine if unresolved complaints about a particular dealer are on file. Also, check out a dealer’s reputation by searching online. Does the dealership have service awards and certified technicians? History reports are helpful but can not replace the significance of a dealership inspection.
Hallal emphasizes the importance of accountability. Despite over 60 years of experience and 4 Customer 1st Awards, Grieger’s relies on current reviews to maintain its brand reputation. This can instill confidence that prices will be honored and you are satisfied. Buying from a private party generally lacks this leverage. Edge-Car Dealership
Financing Your Used SUV, Car or Truck
According to Hallal, dealers with higher turns can also save the consumer money when they finance the vehicle. “Many lenders are tightening credit requirements on used cars. Interest rates on used cars fluctuate more than on new cars. Our finance volume can also be leveraged to support better rates.
Payment Options
You have two choices when paying for a car: pay in full or finance over time. Financing increases the total cost of the car because you’re also paying for the cost of credit, including interest. Consider how much you can pay as a down payment, the monthly payment, the financing period (such as 60 months), and the annual percentage rate (APR).
Low monthly payment offers may be tempting, but they often have longer loan periods and higher interest rates. So, make sure you know the total cost of financing.
Tips for Financing a Used Car or Truck! | Confessions of a NWI Jeep Wrangler Dealership
1) What’s the exact price you’re paying for the car?
2) What is the total sales price with financing — the sum of the monthly payments plus the down payment?
3) What’s the finance charge (the dollar amount the credit will cost you)?
4) What’s the APR (which measures the cost of credit as a yearly rate)?
5) How many payments will you make — and how much is each one?
According to Hallal, shopping for a used car from a new car dealership can offer you time and money-saving tools, which offer many benefits of buying a new car but with the cost savings of buying a used one.
His Grieger’s Motor Sales website utilizes the same online shopping tools for new cars, certified pre-owned and used cars. With trade-appraisal tools, payment calculators, and other financing tools, customers can streamline the shopping experience and only visit the dealership when the vehicle fits their unique parameters. This helps customers discover which models and options can realistically fit within their budget.
This leads to Hallal’s final tip. Dealers with higher turns also can save the consumer money when they finance the vehicle. “Many lenders are tightening credit requirements on used cars. Interest rates on used cars fluctuate more than on new cars. Our finance volume can also be leveraged to support better rates. Edge- Car Dealership
Buying a Used Car from a NWI Car Dealership
Buying a Used Car from a Dealership that supports the community instills confidence! The HillTop Food Truck from Grieger’s Motors in Valparaiso
Most of us are more comfortable buying a used car from a NWI Car Dealership. It’s a safer environment than going to a private seller’s house or a random parking lot somewhere. Dealers typically offer several cars from which you can choose, increasing the odds of finding something acceptable in your price range.
Pros of Buying a Car from a Dealer
One-stop shopping: The dealer has it all: a multi-car inventory and all the services that go along with being a dealer. For example, you can shop, test drive, secure financing, and close the deal all at the same time and location.
Safe environment: Things can always go wrong, but buying a car at a dealership eliminates many concerns surrounding a peer-to-peer transaction. For one, the transfer of funds is more secure.
Available warranties: Many used car dealers offer their short warranty to handle problems during the first weeks of ownership. Such warranties are restrictive regarding what is covered and where covered repairs can be made. Many dealers, such as Grieger Motor Sales, have an assortment of third-party extended warranties that cover more components and longer periods.
Regulation protection: The federal government’s “The Used Car Rule” applies to used car dealers, preventing them from fraudulent practices like misrepresenting the car’s condition or warranty.
Reputation: Longstanding car dealerships care about their reputation. This is much more likely to be true with a franchised dealer of a familiar brand, such as Grieger’s Chrysler, Dodge, Jeep and Ram. With over 60 years in Valparaiso and a significant member in the community, you can feel confident in support. A private seller who might sell a car every two, three, or 10 years doesn’t depend on the community’s goodwill. It’s less likely that a private seller will give a disgruntled buyer much thought after the sale.
Written by Jim Jano Janesheski