3 Used Car Dealership Myths
Setting the record straight on used car lots
Many myths about used car dealerships are pervasive, mostly thanks to movies and TV being happy to perpetuate some mistruths. A television show can use well-trodden tropes like the seedy used car dealership and be sure that audiences quickly understand what they’re getting at, but this doesn’t accurately reflect the modern used car dealership market.
The car lots near me don’t follow those stereotypes. Buying a used car from a reputable used car dealership is one of the best ways to save thousands of dollars on a car purchase. In this article, we’ll look at three popular myths about used car dealerships and buy here pay here dealerships and why they’re as outdated as the media peddling them.
Myth #1: Dealerships will rip you off
People are often wary of purchasing from a used car dealership as they believe the dealership is only looking to make the maximum profit available. But in a world of internet reviews, social media, and online blogging, news travels fast. Bad experiences at dealerships are amplified online while the thousands of great deals go by without mention.
Car lots know that to succeed in the modern market they must maintain a good reputation. Used car dealerships that try and rip off a customer don’t last long, as their name gets shared far and wide across the internet and simply searching for their name will bring up negative ratings and reviews.
Myth #2: Vehicles sold at used car dealerships are subpar
A pervasive myyh is the idea of the “lemon”, the banger a used car dealership sells you that breaks down weeks or months later. On the contrary, the car that you buy from a used car dealership is significantly more likely to be a high quality choice.
The used car dealership will have had to source the car in the first place. Whether they picked up the vehicle from a private sale, trade-in, or ex-company use, a great deal of diligence goes into buying a car to be sold on a used vehicle lot.
Most dealerships will perform a multi-point inspection that’s far beyond the tests you’d perform yourself at a private sale. Hundreds of elements are tested, as the dealership knows it will need to fix all issues before putting the car for sale on the lot.
Consider, again, that a dealership needs to worry about its reputation. A private seller will never see you again and doesn’t particularly have to care if you’re happy with your purchase. Buy here pay here dealerships, in particular, need to be sure that the vehicles sold are excellent in quality so that you will be able to continue paying your monthly repayments to them.
Myth #3: Used car dealerships are more expensive
Yes, it is usually possible to buy a car on the private market for a lower price than if you bought it from a dealership. But this doesn’t take into account all of the additional benefits you get from buying from a dealership.
First, we must consider financing. Few people have thousands of dollars sitting around, so most of us use financing when buying a new vehicle. A used car dealership makes this a lot easier than trying to buy a vehicle privately with a loan from a third-party financier.
Buy here pay here dealerships, in particular, offer an accelerated means of getting financing. As the dealership handles the financing instead of farming it out to a third party, everything can be done under one roof. You can come into a buy here pay here dealership, get financing, and drive away in a new vehicle within the hour.
Buy here pay here dealerships also typically offer great rates for those with a poor credit rating. If you have a bad credit rating and you go to a bank for a car loan, they’ll either turn you away or charge you a huge amount of interest, as they consider you to be a high risk borrower. Buy here pay here dealerships usually don’t take credit rating into account when making a decision on financing, instead caring more about whether you have a steady income that’s enough to cover the monthly repayments.
Then there are other benefits a used car dealership can offer that a private seller can’t, such as a limited warranty, servicing discounts, easy trade-ins, and purchasing advice. There’s a lot to gain from choosing a respected used car dealership, so you should forget the myths and make your own decision.