Even rich people love to save money.
There are some people in this world who could walk into any car dealership they want and write a check for any car on the floor.
Sometimes, though, they just don’t have the time to spend at the dealer and go through the hours-long process of buying a car.
For those people, and for regular car buyers like you and me, auto brokers can be a true blessing.
A car broker is a third party hired by a buyer to assist in the purchase of a new car. Essentially, it is a car broker’s job to make your job easier when it comes to buying a vehicle.
When purchasing a new car, a significant deal of research is recommended to ensure you’re getting the best price. A car broker can complete all this legwork, including researching and negotiating a price across his or her database of dealerships. Using their networks and connections, they’ll be able to do this for you much faster, and often more effectively, than you’d be able to on your own.
A full service car broker can complete the entire process for you, from finding the car to completing the transaction.
A good friend of mine just purchased a car through a broker and the only thing he had to do was visit the dealership to test drive the vehicle of choice then choose the trim and color. His 2015 Land Rover Discovery Sport was purchased well below MSRP and without any negotiation on his part. To top things off, his broker even scheduled home delivery of the new car.
A few words of caution if you engage a car broker:
- Make sure he or she operates independently and is not connected with a dealership.
- Verify the fees charged beforehand and how the broker will be paid. Some require a flat fee, and others operate on commission.
- Do your own research at the same time, just to make sure the broker is truly acting in your own interest.
If you don’t have the time to spend at a dealership negotiating, hiring a broker can be a great way to save a lot of time and, with luck, a few bucks.
Have you ever used an auto broker to buy a new car?