Used car shopping: Buying directly from the owner is your best bet
The resurgence of the used car market
Before gas prices spiked and the economy took its turn for the worse, how many of us considered buying a used car? Probably not many. But Market Watch is reporting that consumer interest in used and certified pre-owned cars has spiked compared to the first three quarters last year.
Sites such as Cars.com saw a 56 percent increase in dealer contacts and a 63 percent increase in shoppers interested in certified pre-owned cars.
"Not only do manufacturer-sponsored certified programs on Cars.com drive certified buyers to local dealerships, but they also generate more overall traffic -- new, used and certified," Cars.com president Mitch Golub said. "Certified programs support new car sales; in fact, 30 percent of certified lead senders on Cars.com buy new cars."
To the smart manufacturers, it's basically a two-pronged approach. Marketing and aggressively pricing certified pre-owned cars is helping bring shoppers in hesitant to buy new. But at the same time the increase in traffic to the dealers helps new car sales as well.
CPO means higher price
The disadvantage to certified pre-owned is the higher sticker price. Purchasing a preowned car directly from the owner is a better bet, especially through a site like Mota.net. Not only do you avoid the inevitable dealer markup, but you benefit from Mota's professional inspection. A little extra security when buying used.
The key point here is that consumers are taking to the pre-owned market more and more. Taking on more debt right now is just not a good idea. Buying used helps you escape the high cost of new cars with the first owner taking on the cars depreciation.
Avoid the dealers, find the sellers
Raymond Ciccolo, who is president of a group of seven dealerships in the Boston area, says many will not be able to survive the current economic slowdown. Ciccolo is also the Massachusetts director of the National Automobile Dealers Association.
"People are putting off purchasing," Ciccolo said. "The want is gone, and they are only going to buy when they need a car."
Today, the quality and reliability of today's cars is much better than anytime in history. Yes, you have brands and models that have a poor reputation. Unfortunately for manufacturers, buyers don't forget. If they've had or heard about a bad experience, they carry it with them for a long time.
But to come to the auto makers defense, people need to set their differences aside and look at all of the options available. It's a tired cliché, but thinking outside the box presents you with many more choices that will only help in your car buying decisions.
Andy Mrozinski
Editor, Ridestory.com
andy@ridestory.com
http://twitter.com/ridestory
Stumble It!
Before gas prices spiked and the economy took its turn for the worse, how many of us considered buying a used car? Probably not many. But Market Watch is reporting that consumer interest in used and certified pre-owned cars has spiked compared to the first three quarters last year.
Sites such as Cars.com saw a 56 percent increase in dealer contacts and a 63 percent increase in shoppers interested in certified pre-owned cars.
"Not only do manufacturer-sponsored certified programs on Cars.com drive certified buyers to local dealerships, but they also generate more overall traffic -- new, used and certified," Cars.com president Mitch Golub said. "Certified programs support new car sales; in fact, 30 percent of certified lead senders on Cars.com buy new cars."
To the smart manufacturers, it's basically a two-pronged approach. Marketing and aggressively pricing certified pre-owned cars is helping bring shoppers in hesitant to buy new. But at the same time the increase in traffic to the dealers helps new car sales as well.
CPO means higher price
The disadvantage to certified pre-owned is the higher sticker price. Purchasing a preowned car directly from the owner is a better bet, especially through a site like Mota.net. Not only do you avoid the inevitable dealer markup, but you benefit from Mota's professional inspection. A little extra security when buying used.
The key point here is that consumers are taking to the pre-owned market more and more. Taking on more debt right now is just not a good idea. Buying used helps you escape the high cost of new cars with the first owner taking on the cars depreciation.
Avoid the dealers, find the sellers
Raymond Ciccolo, who is president of a group of seven dealerships in the Boston area, says many will not be able to survive the current economic slowdown. Ciccolo is also the Massachusetts director of the National Automobile Dealers Association.
"People are putting off purchasing," Ciccolo said. "The want is gone, and they are only going to buy when they need a car."
Today, the quality and reliability of today's cars is much better than anytime in history. Yes, you have brands and models that have a poor reputation. Unfortunately for manufacturers, buyers don't forget. If they've had or heard about a bad experience, they carry it with them for a long time.
But to come to the auto makers defense, people need to set their differences aside and look at all of the options available. It's a tired cliché, but thinking outside the box presents you with many more choices that will only help in your car buying decisions.
Andy Mrozinski
Editor, Ridestory.com
andy@ridestory.com
http://twitter.com/ridestory
Labels: Buying Cars, MotaMoney, Used Cars
Stumble It!
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