Well, it finally happened. Your once trusty hunk
of metal broke down for
the last time. You need a new car, and
with a busy schedule you need it fast. The thought of traveling from
dealership to dealership seems daunting, so you open your laptop and do some
searching online. Your eyes gaze upon a set of wheels that
seem like the perfect fit to replace your current ride.
It’s that easy these days, introverts - rejoice!
Virtual car dealerships are changing up the traditional ways of purchasing a
car. It’s normal to feel apprehensive about this process, as purchasing a car
involves banks, loans, and cash. Read on to learn more
about the online car-buying process and what you need to know about this latest
industry
trend.
First, set a budget. One great feature of searching for a vehicle online is filtering
your search results by price. If you begin by setting a manageable budget and
specify that amount on the
website, it will help you avoid viewing cars outside of your price range to
tempt you into spending more. Setting a budget will also help you pre-plan
during the car buying process by determining how much you will need for a down payment and
what your comfort level is when it comes to your monthly payment.
Do a lot of research. There are many companies hoping you’ll buy a car online from them;
both national and local dealerships are moving toward this trend. Research the
ones you are interested in doing business with
by looking for online reviews posted by customers. Read “my experience” stories
online and ask friends if they’ve made online auto purchases. Doing your
research upfront can lead to a great car-buying experience, or help to avoid a
bad one.
Once you’ve found a contender, request a
thorough VIN history report. The VIN (vehicle identification number) gives
you a detailed look into the history of your potential vehicle. The VIN report
lists useful information about a vehicle, such as: how many owners it’s had, if
it was in any accidents, and
can even list it’s wellness
checks, including oil changes, services, and any recalls it’s had. Many
dealerships will include a VIN report with a vehicle purchase, but if not, try
negotiating it into the deal. If that doesn’t work, you can purchase the VIN
report online. It’s definitely better to have seen this report upfront than
find out after your purchase it that it had been in an accident .
Obtain close-up photos of all areas of the
vehicle. The last thing you want is to set your eyes on
your dream car for the first time and find it has ripped interior seats or a
scratch on the passenger side door. Ask for detailed photos of each major area
of the vehicle, including: seats, dashboard, outer body, trunk, tires, and under the hood.
Have a second set of eyes look at the photos as well, in case they find
something you missed.
Think about your loan ahead of time. Many online dealerships offer loan options that you can go with,
but do your research. Discuss the interest rates with the online sales
representative. You may be able to qualify for lower interest rates elsewhere,
so explore those options ahead of time. If rates are high now, remember, you
can refinance down the road to save money in
the long run.
Compare your choice with multiple dealerships. Just because it’s more convenient doesn’t mean it’s the best deal
for the vehicle. Run the make and model of all vehicles that interest you
through a local search to see if your online list price seems fair, or if it’s
much higher or lower than others. If it’s significantly higher or lower, that
should be a red flag to question this with the sales representative. If your local options make more
sense, we encourage you to support your local economy instead!
Update your insurance policy. Maybe you didn’t have certain coverage on your previous vehicle or had lower limits and want to make
changes. Now is the time! When you find a car you want to purchase, contact your local agent to discuss what coverages are best for your needs, as well as
what documentation they will need.
If you live a busy lifestyle, an
online car dealership might sound appealing. If so, make sure to do your
research, ask friends and be as informed as possible when making your decision.
A new vehicle might just be one click away!
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