Considering Buying a Used Car Franchise? Here are some things to keep in mind:
While franchise dealerships offer brand recognition and a large inventory, they are also less likely to have the wide variety of cars available at an independent dealer. Checkout Byrider Franchise for more info. Franchises also typically charge more for used cars than independent dealerships, but they tend to have higher-quality used vehicles. Independents also typically have lower prices. They also have more customer service, which can be an important consideration. The price difference between franchises and independents is significant.
The auto brand must be popular in the local market in order for it to be successful. For example, if the brand is Lincoln, it may not sell as well in a competitive market. You should base your decision on hard data that can help you understand the market and its prospects. While auto manufacturers can provide sales projections and market research, it is a good idea to seek out objective third-party sources for this information. Dealer 20 Group and other financial analysts can also provide additional information.
Be sure to read the terms of the “as is” box and any verbal promises that the dealership may make. Verbal promises may be difficult to enforce. The state attorney general can give you more information about what the “as-is” clause covers. If you are concerned about a dealership’s reputation, try to avoid buying a car from them. They may use the word “as is” to deceive you into a false sense of security.
When choosing between a franchised or independent used car dealership, always consider the financing aspects of the purchase. Independent dealerships tend to offer better prices and a higher-quality inventory than franchises. If you have a poor credit history, independent dealers are generally more affordable than franchise dealerships. Also, they usually offer better warranties than new car dealers. This makes it easier to get financing and a better way to repair your credit.
Independent dealers may have higher interest rates than franchise dealerships. In addition, independent dealers may be more lenient on financing, which means that they can offer financing to people with less than perfect credit. The downside to a used car from a franchise dealership is that it will be a later model, while an independent dealer might sell a model that is a few years old or even a few years old. There are some advantages to buying a used car from a franchise dealership, so always check out your options.