The benefits of using a car broker are many. First, they will be able to negotiate for you, ensuring you get the best deal possible. While some people are skilled negotiators, a broker will know how to save money while getting the exact car you want. If you try to negotiate, you might settle for something less than you wanted. It may mean you’ll end up with the wrong colour, trim level, marque, and model year.
Avoid using a car broker who says he will work for free
While using a free car broker may seem tempting, this strategy is not advisable. Such brokers usually work for the dealership and will not be looking out for your best interests. Moreover, they may settle for a higher price to get your business. To avoid such a scenario, it is advisable to investigate the broker and his fee structure before hiring him. Using a car concierge or an auto-buying program can help you find a good car broker without paying a dime.
While hiring a car broker can save you time and frustration, it is still better to do your research. Although a car broker can save you countless hours of research, you will lose control of the process. Instead, it would be best if you tried to educate yourself and avoid any car broker who tells you that he will work for free. When choosing a car broker, it is best to stick with someone with experience and an established reputation for providing top-notch service.
Avoid using a car broker who charges a flat rate fee
The most obvious reason to avoid using a car broker that charges a flat rate is that they are primarily funded by the dealerships they work with. A car broker should not be compensated by the dealerships they deal with – if they are, you should look elsewhere. Brokers should also be independent of dealerships, which is good, but they should not receive any money from them.
Always avoid using a car broker who charges a percentage of the final selling price. Using a percentage-based car broker can be expensive, particularly for high-end rarities. In addition, a car’s Kelley blue book value is often higher than the average selling market price. Although this may seem like a good deal, the actual cost may be considerably higher than what the Kelley blue book shows.
Find a car broker with a good reputation
A growing number of consumers are choosing to hire the services of a professional car broker. These brokers can find the perfect car for their clients and often charge a fee for their services. It would be best if you did your homework to find the right broker for your needs. Some brokers promise lower prices and costs or will advocate for you in your purchase. It’s also important to ask questions before making a decision.
While many car brokers are former dealers, reputable brokers are independent of dealerships. Ideally, they should not take any payment from them. Some are home-based and work for dealerships directly. Regardless, ask about the background of the broker and their company. A reputable broker will be proud to claim independence from dealerships and openly boast about knowing all the trade tricks. If you have concerns about a car broker’s freedom from a dealership, read our article on the potential risks of using one.
