The internet has triggered a revolution in the car-buying process. People no longer spend an entire day at the dealership negotiating prices or signing loads of paperwork. All that can now be done online. This move was propelled by social distancing rules brought about by the Covid-19 pandemic.
Today, you can shop for a car online and complete all transactions without meeting the salesperson. And your car can be delivered to your doorstep. Here’s how you can buy a car without ever setting foot into a dealership.
1. Set a Budget
First, set a budget so you know the amount of money you’re willing to spend on a car. This will also help you identify the car model that fits your budget range. Your budget shouldn’t solely focus on the sticker price or the monthly payments, consider the total interest you’ll pay over the loan term as well. Other expenses to factor in include fuel, insurance, repairs, and maintenance. Try to be as realistic as possible when setting your budget.
2. Get Pre-Approved for a Loan
Start talking to auto retailers after you’ve been pre-approved for a loan. Pre-approval helps you know the type of car you can afford. It also gives the dealer a benchmark if they want to finance your car purchase. Pre-approval also gives you greater negotiating power and prevents you from falling for predatory loans. You are very clear about the car you want to buy.
3. Compare Prices and Look for Great Deals
The great thing about shopping for a car online is no one is breathing down your neck and telling you to buy a specific car. Experts advise that you shouldn’t pick a different car model than the one you initially wanted to buy, unless you get a great deal.
Check out the available deals on similar cars or the incentives offered by other dealerships for the same model. For instance, if you’re looking for a Suzuki samurai for sale, you can compare the prices of different models or visit different online dealerships before making up your mind.
4. Negotiate the Price
Before you buy a car, you need to know what others are paying for the same car to ensure you get a good deal. You can use online car valuation tools to know the true market value of the car.
Once you’ve determined the car’s market value, you can reach out to multiple dealers and quote your price. You can call or email them. In your communication, let them know you’re aware of the car’s market value and that you’re talking to a few other dealerships. This might make them quote a slightly lower price.
5. Take a Test Drive
You’ve taken a virtual tour of car showrooms, compared prices, and identified the car you want to buy. But there are features you must test in person, such as the seat belt design and seat comfort. Talk to the dealership and have the car delivered to your home for a test drive.
You can hire an independent mechanic to help you examine the car if you’re buying a used one. But you don’t have to if you’re buying a certified pre-owned car or a new vehicle.