The used-car market is growing in popularity all across Canada. Since cars are lasting much longer and people are looking for a cheaper alternative to buying a new car, many car buyers are looking for used cars, which is making the market that much more competitive to find the car of your dreams before someone snaps it up. If you are wondering if you should buy a used car from a private seller or from a dealership like Ride Time, there really is no question. The answer is “Dealership all the way!”
There are many advantages to buying a used car from a dealership versus from a private party — some of which you might not even be thinking about. Before you pick up the classifieds and start sifting through them, consider these major advantages dealerships have that independent sellers don’t.
When you buy a used car from its owner, you are stuck with whatever options it has. That might have you looking everywhere for the car that was purchased new with all the features you want. Sometimes that can be harder than you think. If you buy a used car from a dealership, even if it isn’t exactly what you want to begin with, they can make it all that you are looking for. Built into the price of the car, you can customize it so it’s just the way you want it. Add upgrades and accessories at will instead of worrying about them afterward.
There are a vast number of aftermarket upgrades that many used cars aren’t equipped with. Other things that dealerships can offer is an extended warranty to cover things that are no longer covered under the manufacturer’s warranty. When you buy from a private seller, buyer beware — their biggest problems might become yours. There are also times when dealers will offer incentives and promotions to entice their customers to choose dealership over private.
When you buy from a dealership, who has an excellent reputation and wants to keep it that way, you can be assured that you aren’t buying a lemon or a car that has something wrong with it that hasn’t been disclosed. Since dealerships rely heavily on word of mouth, if you do find a problem, they will help you solve it without it coming out of your pocket. Since they have a reputation to uphold, you have some additional security when buying a used car at a dealership.
When you buy from a private seller, then you are responsible for getting financing on your own. That might not sound like a big deal, but for some buyers it is. If you buy from a private individual, then your options are either obtaining a loan from a credit union or a traditional banking institution. If you buy a used car from a dealership, they work with many lenders to find you the loan you want. They can also help to find the best rate by comparing financing companies to get you the best interest rate possible. The best part? You can be in and out the door, approved for a loan, and driving your new used car, in less than a couple of hours. That usually doesn’t happen when you go the traditional loan route. By the time you can secure financing, the car you want might be long gone.
There are also times when lenders won’t finance a car if it is sold by a private car owner. Because there is no way to ensure that the seller is selling with good faith and disclosing any problems, lenders don’t want to take on the risk that there are major issues with the car. So for some borrowers, a dealership is the only way to go.
If you are in the market for a used car and need financing, then a dealership offers many advantages over private vendors. Ride Time can not only try to get you the financing you need, but will work hard to get you the best rate possible. Before you hit the classifieds, check out what we have to offer!