If you are in the market for a used vehicle, there are a few things you need to know. You should avoid large, chain companies, because they are often more expensive. You can also choose smaller companies that offer a better experience. Closed auctions are another good source of inventory for dealers. And finally, buying a used vehicle may save you a lot of money in the long run, thanks to tax benefits. Read on to learn more!
Large chain companies charge more
While some consumers like to haggle for lower prices at used car dealers, many others don’t. For example, a large chain company is likely to charge more at used car dealers than an independent dealership. This practice isn’t new; Toyota and Honda have long talked to individual dealers about charging more than MSRP. In fact, Toyota Motor North America’s senior vice president of auto operations, Jack Hollis, says the practice is a way to improve the overall customer experience. However, many dealers aren’t pleased with the practice, and are concerned that the practice will harm the reputation of the entire automotive industry.
Public chains such as AutoNation Inc. and Sonic Automotive Inc. have historically charged higher prices for used cars because of the efficiencies of scale. Their lower overhead allows them to pass on their cost savings to customers. However, consumers should avoid such large chain companies if possible. While they do tend to charge higher prices, they may be more trustworthy than independent dealers. If you’re … READ MORE ...