Considering purchasing a vehicle but you have too little time on your hands to find just the right one, or lack the experience to negotiate the best deal with a dealership? Maybe the particular model you are looking for is quite rare and seldom find their way onto the used market. It is usually at this point that you might be considering purchasing a vehicle from a broker.
Related: Can I get a better deal on a used car if I pay with cash?
A car broker is an independent individual that will find the vehicle you are looking for and negotiate with the particular seller or dealer for the best price. In most cases, vehicle brokers will also take care of all the paperwork involved and even deliver your new vehicle should it come from far. At this point it seems working with a vehicle broker to find your next car can be to your advantage, however, you need to take note of a few key areas before choosing a broker.
Fees
Different brokers will have different ways in which they will structure their fees. In many cases, a vehicle broker will charge a percentage of the total sale price of the vehicle, similar to a sales representative at a dealership. However, it is not uncommon for car brokers to charge a fixed amount. With that said, it is important that you note what services are included in the fees as in some cases extra charges can be incurred if you need the vehicle to be delivered for example.
While most dealers prefer dealing directly with the customer, in many instances dealers don't mind working with brokers as it could result in a quick and painless sale even if it means they need to pay a reward for the lead. Take note that this is usually incorporated into the vehicle price as well as fees from the dealer.
Purchasing experience
When you work with car brokers, you should note that in most cases you will only provide the details of what car you want, in which colour and which options should be fitted. Very seldom will you have the opportunity to test drive or even view the vehicle in person before a deal is made. Thus the purchasing experience is a matter of signing papers which means you need to place a lot of trust in the broker's experience, especially when buying a used vehicle.
Personal information
While larger brokerage firms will offer some type of security around your personal information which includes your banking details, ID number, licence number and place of residence. Smaller brokers might not have the online security to keep the said information private from hackers. Individual agents might also not dispose of physical copies of your personal information correctly, resulting in unknown people gaining access.
Thus it is important to do thorough research into the broker or brokerage you are considering to handle negotiations and your paperwork on your behalf.
Verdict
Although having a broker find the exact model you are looking for and negotiating a better deal on your behalf certainly has its merits. In this day and age, it has become very easy for individuals to track down their own dream car. You can very easily search for used models on AutoTrader yourself, or even find a dealer to discuss your needs.
In conclusion, should you decide to use a broker, be sure that they are transparent in their dealings and thoroughly research their business before committing to an agreement. Alternatively, you could save yourself the fees and find used car specials on AutoTrader with a few clicks of the button. It is similarly as easy to find new car specials on AutoTrader.
