At some time during our lives we will more than likely go shopping for a used car. This might be because we need a second vehicle to shuttle around a growing family, or for a young person going away to school or starting work for the first time, or for a business venture that is picking up steam.
Whatever the reason, you will find yourself in a world that operates in its own specific way, with its own language and pitfalls. You can find yourself overwhelmed by the process and even feeling like it just isn’t worth the time and hassle, but this will not solve your needs of finding that automobile. So the only option is to understand how it all works and navigate the process.
Reputable used car dealers like Robert Bassam do all they can to make things easy for shoppers because they realize how nerve wracking the process can be. There are also some important facts that used car shoppers need to know about the state of the used car industry that can give them some confidence.
New Car Sales are Slowing
For the past year, new car sales have been slowing considerably from their lofty highs. The reasons are that the economy has not picked up as expected, the government incentives for buying more fuel efficient cars are expiring, people are holding onto their cars longer and general malaise about new car offerings.
This slowing puts pressure on the entire car industry from parts sellers, to insurance companies and includes these who sell used cars. Used car dealers in some areas of the country have seen nearly a double digit dip in used car sales this year leaving some with lowering prices as the only sure prospect for getting buyers into their showrooms.
Dealers have to be More Honest
Because every bad and good experience shoppers have will typically end up on the internet for everyone to see, dealers have had to curb many of their questionable practices. No more lying about the quality or histories of their cars, no more advertising one price and then when you arrive at the dealership you find that the vehicles you saw, sold just ten minutes ago and similar ones are for sale at only 20% more. These tactics would work because communication between potential buyers was non-existent. Today however, if one buyer is lied to, that person spreads the words and before long, the dealership is empty. So Washington owners of car dealerships have to be more honest with Washington car buyers. Dealers know this and are more careful than ever about what they say and how they treat customers. So before you go into a dealership see what people are saying about it online. It could save you lots of time and a bad experience too.
Financing is Easier Today
Financing is easier for many car buyers today. In the past there were only a handful of ways to finance a car and they were very detailed and difficult to navigate. Used car dealers have a myriad of ways to get buyers into cars and create workable payment options. Some of these tools include longer term loans that stretch out more than five years. Traditionally car dealers would seek loans in the 3 to 4 year range, but the rising cost of autos has made the length of financing consistently grow longer. This allows more people to get into a used car. Others include the use of new types of collateral for a loan including your paycheck and employment record. Combined these and other strategies make many more people capable of buying a used car.