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With recent online apps emerging – Carvana, Carguru, and Vroom – it is much easier to sell your car via Internet than going to a dealership. COVID-19 is a strong catalyst that jumped this buying and selling method to the mainstream. Back in 2020, the online method to buy jumped up to nearly 39% in consumer interest. There is not as much stigma or uncertainty when going with this new style. However, selling to a dealership is still strong and established to the average American consumer.
The traditional route is what the normal consumer is exposed to and feel comfortable having one-on-one interactions when it comes to making a big financial decision. However, studies also show that 61% feel like they are getting rooked throughout the process as well. This might shift into a direction where live video and chat support will be readily available to digitally bridge that gap as much as possible. The new delta variant spreading is making this option difficult and following similar trends to what COVID-19 did to the auto industry last year.
The two methods are somewhat in a crossroads. Digital is growing while traditional is gradually tapering off. Both have the onus of having both sides of the coin. Everyone, including you reading this, already have the general idea of what to expect when buying from a dealership; this can be from personal experience or the cautionary tale your parents told you to brag about the great price they got. Below are the advantages to using the online method if you are questioning to go into a dealership:
- Information is power and a consumer wants price transparency. Without leaving your house, you can get a car appraisal and compare that to other competitors to see where your car value lands. This gives you the power to decide what your car is worth to you and where to take that. This doesn’t lead to any sales pressure from a dealership contact while you scroll through your phone.
- Ease and comfortability are two main factors when it comes to your car decision. Buying and selling with the least amount of hassle are benefits that make your life a lot easier if you have other things to tend to. The level of service streamlines the purchasing or selling process. Stress alleviation is a huge plus through a tough process.
- Reliable sources are boxing out scammers. Buying a car through eBay or a Craigslist posting is no longer the normal standard, and the bar is much higher with companies being listed on the NYSE (New York Stock Exchange). This gives much more credibility to the online service and gradually stripping away the stigma that highly valued assets cannot be transacted online.
Instant car appraisal, streamlined process, and established credibility are only three of many reasons to sell or purchase your car online. Traditional car buying is not vanishing by any means, but the shift in the auto industry is already here.
With the current times, it is best to purchase vehicles through the non-traditional method; this is primarily for safety concerns. Timing is always a kink in the step with what to do with your vehicle but health should be the main priority.