Purchasing a new car is stressing for many people who are averse to haggling over price.
Car dealers tend to be a bit pushy when selling their car. If you are looking to getting a good price while avoiding being conned you may consider getting yourself a car broker.
This article offers some important tips you need to consider when getting involved with a car broker.
Do some research
A car broker wants to make some commission when they sell you a car. It is prudent that you perform the same background check on the broker before meeting them. This will include finding out whether the broker has built a reputation for buying cars.
You can also do research on the type of car you are going to purchase online. Find at how much online auto dealers are selling the car. This will give you a firm footing when you are negotiating the purchase price. You will want to know whether the broker is licensed and will deliver the car after purchase. This will save you time and resources going to pick the car.
Identifying the right broker
Car brokers are categorized into two – individual and wholesale auto broker clubs. Brokers are there to ensure you get the best possible price from the car seller. They help you save on time and the stress that comes from negotiations. Individual brokers have previously held positions in car dealers or car manufacturer companies. They tend to know a lot about cars. These type of brokers often operate from home or have small offices near your town.
You get the added benefit of personalized services. The auto club brokers are larger but they offer their services to members who belong to their club. In some instances, you may find a dealership-broker relationship. Here the dealer offers the broker some commission for selling their cars.
The broker is on your side
You are busy and do not have time to go shopping for a car and negotiating for a price. Car brokers provide a crucial service of handling financing, taxes, car inspection, and legal issues that come with a car purchase. They are professional negotiators and do this on your behalf. Many customers have successful stories of how they acquired a good car through the services of a broker.
However, you need to realize that some brokers work together with the dealership to sell cars. To be on the safe side check out the broker’s referrals and testimonials. Have many people dealt with them and would recommend them?
You may ask are random dealership is they have heard of a certain broker and take note. Also, get car broker recommendations from family and friends. Ask them how their experience was with a particular broker.
Most brokers charge a flat fee for a car purchase. Avoid those who have definite fees that are based on the car you are buying. By charging a flat fee the broker will only make money when they sell you a car. Online broker websites offer the same service but at much lower fees.
You can get them a contract with the broker by sending them an email or calling them. Brokers have connections with car dealers and this enables you to get the best car and price. They will also advise on whether to lease or buy new.
Do not just settle for a local broker. It is wise to broaden your search across various geographical regions. This offers you a variety of broker terms. When you find car broker you can trust check their experience and credentials first before hiring them.
Look out for brokers who are affiliated with the dealership. Knowing a dealership is not a bad thing unless you get coerced to take a particular deal while there are other options in the market. A car dealer deals solely with selling cars while the broker is the in-between guy between you and the dealer. The broker is there to ensure you get the best deal when purchasing a car.
After the car broker makes the deal with the car dealership ensure that all paperwork is in place. Check the engine number and see whether it responds to the VIN. You may want to come with a mechanic to confirm the car is in good operating condition before sealing the deal. The broker gets a flat fee whenever they sell you a car and you need to be sure that they did not sell you a more expensive model just to make extra.
It is equally important to make your needs clear to the broker when buying a car. You need to ask yourself why you need a car in the first place. Do you have a family that necessitates you buying a particular model? You should also set a maximum negotiating price. Inform your broker how much you are willing to go when making the purchase.
The car purchase should be based on similar deals you have researched online. Having a budget will help you narrow down on specific car models. You should evaluate your household income minus expenses. This is what is available to make monthly payments and maintain the car.
A car broker helps you identify the right car when you do not have time to do the purchase yourself. When using a broker do proper research of their services. This will include finding out whether they have good referrals and testimonials from other customers. You can either choose an individual broker or an auto broker club. Brokers charge a flat fee for their services.
Research online on the purchase price of similar car models. This will give you a rough idea of how much the car will cost. Most brokers have worked for a car dealership before venturing into their own businesses. It is wise to rule out that the broker-dealer relationship will not bring about a conflict of interest.
Car brokers come in handy when you do not have the experience in negotiation or know very little about cars.