So, you have decided to buy a new car? An excellent idea! However, you should know that buying a car is not as simple as it used to be. Of course, you can enter a car dealership and pick the first one that fits your budget. But if you want to be smart about it, you should take your time and do some research; especially if you’re buying a used car.
Now, we understand that some people don’t have the time to do their homework. Fortunately, car brokers exist; they can help you pick a perfect car and even negotiate down the price. But as you can imagine, there are good and bad car brokers. So, to help you find the ideal one, we have prepared a list of four characteristics that every top-notch car broker has.
First of all, your car broker needs to be licenced to deal with cars in your state or country. You would be surprised to know just how many brokers are offering their services without even having a single paper that proves that they are qualified for such tasks.
While a licence doesn’t guarantee that a car broker will do a decent job, it protects you from various frauds. Furthermore, having all the legal papers shows you that a broker is taking their business seriously.
Just an FYI, not all countries require licences, but still, a broker should have some legal documents to prove their legitimacy.
Of course, car brokers don’t work for free. Some offer their services for a flat fee and some for a percentage fee. Usually, the ones with a flat fee are better for your wallet, especially if you plan to buy a high-end car. However, even a percentage fee is acceptable if you find an exceptional car broker. If they can negotiate an excellent price for a car, paying them a little extra shouldn’t be a deal breaker. Finally, on average, a flat fee goes anywhere from $200 to $500 per vehicle.
Many car brokers are working with car dealerships for referral fees. While this is not an illegal practice, you can imagine that it’s not quite ethical. The same principle that forbids judges to take money from lawyers should be applied to car dealerships and brokers.
Even though your broker may offer you an excellent car for a reasonable price, that doesn’t mean that they couldn’t have found a better deal if they browsed some other dealerships that aren’t paying them referral bonuses. So, make sure that you hire an independent car broker just to be safe and certain that there is no foul play.
Finally, your car broker should have an impeccable reputation. Like with any other types of services, your goal is to hire a company or individual that has a proven track record. In the car broker industry, this means that they have numerous satisfied clients and countless successful deals under their belt. Of course, experience and numbers aren’t the only things that matter; the quality of their deals will always come first. So, if you decide to hire a car broker, read some user reviews and testimonials to filter out the good ones from the bad ones.
And that’s it for today. We hope that our article gave you an idea how a top-notch car broker should look like. Ideally, they will cost you less than buying a car on your own, even after you pay for their services. However, for that to happen, you need to hire a true professional. So, take your time and pay close attention to these four characteristics.