Private, auction, online or dealer? What’s the best way to buy a car?
Buying a car is one of the most exciting and biggest purchases that many of us will make. Whether you’re looking to buy something brand new or to bag yourself a second-hand bargain, what’s the best way to do it? We’ll take a look through the pros and cons of each method to help you decide which is the right one for you.
Pros of buying privately
With a number of online sites as well as Facebook Marketplace to search, buying privately from someone is fast becoming one of the most popular options. Often this is because used cars from these types of sellers are much more affordable, meaning you could explore a number of options financially to help you purchase your next set of wheels. Another great bonus of buying privately is that often sellers take good care of their vehicles and make sure they’re clean and serviced regularly. You might also find that they want a deal to be done quickly, so you may even be able to squeeze a bit off the price!
Cons of buying privately
Although it may seem like a quicker and easier way to buy your next runaround, there are some negatives. Don’t forget, you’ll be buying from a complete stranger, so be mindful when talking about payment and coming to collect. You’ll also find that there will be no warranty or any guarantees on the car, so make sure you have a list of checks you want to do before you drive away, as well as ensuring the seller has given you all of the relevant documentation.
Pros of buying from an auction
Probably the least common way to buy a car, but still popular, buying from an auction can be cheaper than you think. Not only will the whole process be an incredibly fast turnaround, you’ll also find that what you can get for your money is great! Who doesn’t want to make their money go further?
Cons of buying from an auction
The major problem you’ll find with this method of buying is that you won’t be able to test drive before you buy. The car is also unlikely to have any kind of warranty left and the vehicle could have question marks around its history. If you can, do as many checks as possible before you place your bid.
Pros of buying online
The world of buying online may be new to some, but with the coronavirus pandemic it could become the new normal. One of the major positives, especially if you’ve not had much exposure to it, is that you won’t have to haggle with ruthless salespeople in a dealership. You’ll also be able to compare and contrast an almost limitless variety of cars until you narrow it down to your favorites − you won’t be limited to what a dealership has in stock.
Cons of buying online
Although you may think it would be easy to find the finances to purchase your new set of wheels, it can be more challenging than you think. If you’re buying from a private seller online, you’ll have to secure your own funds, whether you do this with a loan, on a credit card, by saving beforehand, or via a car finance lender. And, though it may be nice to browse an endless number of makes and models online, it can be easier to view and test drive cars in person.
Pros of buying with a dealership
Probably the most common and well-known option, buying through a dealership has one huge benefit – being able to view and test drive a car before you buy. This way, you’ll get to know everything about your potential purchase before you sign on the dotted line; it’s a surefire way to know whether or not you want to go ahead. It also allows committing to details of the purchase in the printable bill of sale form right on the spot.
Cons of buying with a dealership
Although popular, there are some negatives to this method. Although they’ll help you finance the car through a PCP or HP deal, you may also get stuck with hefty dealership fees if you’re not careful!
No matter which way you choose to purchase your new wheels, these pros and cons should help you decide which will be the best for you.
