With car broking, there is much to learn. This includes knowing how to find the right cars to source and what to look for in every deal. Additionally, you need to know who the sellers are and the subsequent buyers. Afterwards, you must know how to benefit from the opportunities to maximise your commissions. We can teach you everything you need to know through our car broker business package.
Purchasing a used car can sometimes be a great investment instead of choosing a new one. Like with most things though, there are risks. The vehicles can have problems, such as standard wear and tear or more serious ones. If you are in the market for a used car, there are things you should avoid. What we are going to do is go over some of the mistakes you can’t make here.
Get your financing in order
The first mistake is not organising financing before you shop. Like with any purchase, you must plan on how you will pay for the car. Not everyone has the means to pay in cash in full. Even if you do, you might not feel comfortable carrying it. Thus, financing may be the best option. It provides a loan and establishes an upper limit of your price range. The negotiating procedure is easier when you know this in advance.
You will need to shop around here as individual lenders have different rates and loan terms. Make sure the finance has monthly payments you can afford. Do it prior to shopping around for cars. It is also possible to use an auto loan calculator.
One thing we want to mention though is you won’t be buying cars yourself when you get into car broking. There will be no need to worry about finances here; you just arrange deals and never have to purchase yourself.
Secondly, you cannot forego the test drive. Some buyers neglect to take the car out before the purchase. If you are not doing a test drive, you will be in danger of encountering unexpected and costly issues. Remember, the drive gives you a feel for the car, something you can’t do just from looking at it.
Have a mechanic examine the car
Another mistake is not having the car examined by a mechanic. It can be a huge error. This step can save you money, as the motor could have problems you can’t spot yourself or detect on the test drive. The inspection will cost you, but it will potentially save you more in the long run.
Making the initial negotiations in person is something else you should not do. Once you go to the seller, it is less likely that you will walk away from a deal. You will probably make a concession to buy because you are there. However, it puts you in a bad position.
What you should do instead is do the necessary research and comparisons at home. Then, negotiate via email or phone. Mention some used car statistics before meeting them and you can gain an advantage. Then, once you are there in person, don’t be afraid to walk away if anything seems wrong.
Buy based on your needs, not looks
Countless people make this mistake with all sorts of products. Before you even begin looking at cars, see what it is you need. People in need of commuter cars should not waste time looking at trucks. Similarly, don’t look at sports cars if you need something that can tow a caravan. Shop based on criteria first and foremost.
Check the history
The last mistake we will talk about is not getting a vehicle history report. With reports such as these, you can check for past problems and accidents. Furthermore, you are able to check the number of previous owners.
Get the best start with car broking
At Auto Car Brokers, we provide our Business Package to transform people into the next great broking experts. It is based on our own success in the field. You get a comprehensive suite of modules that you can’t find anywhere else. These will be resources you can use time and again to run your business.
So, if you’d like to discover more about car broking, talk to us today or browse our website. This is a fantastic opportunity, especially in the UK.