5 tips to use a car-buying service Advertiser Disclosure Advertiser Disclosure We are an independent, advertising-supported comparison service. Our aim is to assist you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct your own research and compare data for no cost to help you make financial decisions with confidence. Bankrate has agreements with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. How We Earn Profit The products that are featured on this website are provided by companies who pay us. This compensation can affect the way and when products are listed on this website, for example for instance, the order in which they may appear in the listing categories, except where prohibited by law. This applies to our loans, mortgages,, and other products for home loans. This compensation, however, does affect the content we publish or the reviews appear on this website. We do not cover the vast array of companies or financial offerings that might be open to you. SHARE skynesher/Getty images
4 min read Published June 15, 2022
Jackie Lam Written Jackie Lam Written by Contributing writer Jackie Lam is a contributing writer for Bankrate. Jackie is a writer on auto loans. Edited by Rhys Subitch Edited by Auto loans editor Rhys has been writing and editing for Bankrate since late 2021. They are committed to helping readers gain confidence to take control of their finances through providing clear, well-researched information that breaks down complex subjects into digestible pieces. The Bankrate promise
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We receive compensation for placement of sponsored products and services, or through you clicking certain links posted on our site. This compensation could affect the way, location and in what order items appear in listing categories and categories, unless it is prohibited by law for our mortgage home equity, mortgage and other home loan products. Other factors, such as our own website rules and whether the product is available in your area or at your self-selected credit score range may also influence the manner in which products appear on this site. We strive to provide a wide range offers, Bankrate does not include details about each financial or credit item or service. If you don’t like the thought of negotiating with a dealer about the cost to purchase a brand-new car, a car-buying service might be an ideal alternative for you. You can do it from the comfort at home, and some of the car buying services might have ways to save money in your pocket. Are car buying services a good fit for you? The process of negotiating with dealerships can be daunting. If the fear of a bad deal has kept you away from checking out the dealer’s showrooms, a buying service might be the best alternative for you. There are two primary types of car buying services that include concierge services and membership-based services. Concierge services can help you determine the cost of your car and make the buying process more convenient for you, like delivery of the car to your home or to an area center so that you can test drive it before purchasing. Numerous organizations, including AAA warehouse clubs, warehouse clubs, and others, provide car-buying assistance for their members at no cost, says John Nielsen, managing director of automotive engineering and repair at the AAA National office located in Heathrow, Florida. Nielsen states that buyers who avail these car-buying services can save thousands of dollars off their purchases. “I know somebody who bought a car from our program and saved $2,600,” he says. While consumers can to save quite a bit of money, not all car-buying services are the same, according to Lauren Fix, founder of The Car Coach and Car Smarts and a consumer expert on autos. She says consumers need to know what the car-buying service can benefit from these deals and if their objectives are the same as yours. Tips on using a car-buying service If a service for buying cars might be a good fit for you, think about these guidelines before seeking one out. 1. Companies offer negotiation, convenience Car-buying platforms are for shoppers who are tight on time and can’t find and fix, according to Fix. For example, Carvana, a popular car-buying company, has fixed costs and will bring the car to your residence so you can test-drive it over the course of seven days. The cost can vary, and some companies charge a percentage of the cost of the car. For instance, at Meriwest Credit Union in San Jose, California, members can avail the Autoland car buying service. Utilizing the service allows them to barely interact with anyone from a dealership, says William Fultz, an auto broker at Meriwest Credit Union. Members are assigned the auto advisor who can negotiate the price of your car on your behalf and work with them on getting an auto loan through Meriwest Credit Union. 2. Free services are usually for only members. If you’re a member of AAA, AARP, Costco, Sam’s Club or a credit union, you may be eligible to tap into their car buying services for free. Every program operates differently and some may offer the service of negotiating the cost of a vehicle on your behalf, while others provide pre-negotiated fixed rates. Some of these clubs and organizations may offer discounts, benefits or incentives offered by car makers only to members of their organization. 3. Buyers must still conduct their research prior to contacting a car-buying service, Fix recommends looking up sites for research on autos like Edmunds or Kelley Blue Book, to learn the average sales price for your desired car within your region. Another benefit to doing research prior to the purchase is that buyers will be aware of what they’re looking for prior to when they contact the service firm, Nielsen says. “It’s difficult to help you if you’re looking at Minivans, Sports Cars, and convertibles all at the simultaneously,” he says. Nielsen recommends narrowing your choices to your best two or three choices, including models, makes, colors and choices, prior to contacting a car-buying service. “Think about what it is that you truly want to buy and how much you’d like to pay,” he says. If a business has this data, it can work much more efficiently at finding the car you want with a price that is competitive. 4. Know how car-buying services are paid for. While these services may be free for members, the costs are included in any membership fees. As for the concierge, they might charge a flat fee or a portion of the cost of the car. Car buying services typically negotiate discounts with dealers because of the sales volume the dealership can earn through this process, and they can transfer savings to the consumer. But consumers should be aware they may be directed by the company them to certain dealers with which they’ve a working connection, she says. “You should determine if you are getting the most value for your money,” Fix says. Fultz believes referral fees could never be the primary advantage these companies receive. Credit unions usually offer car-buying services as they improve relationships between customers and an institution. “It ensures that we keep our loans within the institution on a greater basis,” he says. “It is beneficial to our members, us and the dealers.” 5. Learn about the return policy. Customers should make sure they understand the policy on customer satisfaction before they buy the vehicle or car, Fix says. If you don’t, you may be stuck with a major purchase and something you aren’t happy with. You can check out the car-buying service platform’s website, or by reaching out to customer service to inquire what the return policy is. Beyond the time you’re allowed to use after purchasing the car for returning it make sure to see if there’s a cap on the miles you can drive it. If you exceed the amount of miles that you can drive, you’ll be charged for each mile past the limit. Typically, the car can’t be returned modified or damaged and must be in the exact state as it was when it was handed over to you. The bottom line Using a car-buying service could be an ideal option for you if you don’t want to negotiate with an agent at the dealership, prefer not to step foot in a car dealership or if you are short on time. Before you make a call to make a decision, you should do your research and study the specifics, like researching , the charges involved, as well as a car-buying platform’s return policy. Find out more
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Written by a contributing writer Jackie Lam is a contributing writer for Bankrate. Jackie writes about auto loans. The article was edited by Rhys Subitch Edited by Auto loans editor Rhys has been writing and editing for Bankrate since late 2021. They are dedicated to helping readers gain confidence to take control of their finances through providing clear, well-researched information that breaks down complicated subjects into bite-sized pieces.
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