What To Know About Independent Used-Car Lots

Independent used-car lots tend to sell cars from any manufacturers and obtain their cars from various sources such as private sellers, dealers, auctions, and more. Because of this, independent used car lots tend to have greater diversity in their stock compared to traditional franchise dealers.

Independent used-car lots are abundant in the United States, with about 20,000 member dealerships, ranging from national chain stores to small family-owned stores. There are also different types of independent used-car lots but all of them have some similarities. Here are some things to know about them.

Affordability

Independent used-car lots are known for their affordability. They have more affordable and lower-priced cars than their franchise counterparts. While this is partly due to the selling of used cars, independent used-car lots also provide greater value as the customers get a more diverse and better selection in a greater price range.

Independent used-car lots also have greater financial flexibility and are better for customers with a poor credit score or history. However, these used-car lots mitigate the risk of customers with poor credit scores through significantly higher interest rates for them. The vast selection of models and relatively cheap starting price make them great for families who wish to own another second-hand car or for a young person who wishes to buy his first car.

Bargaining and Negotiation

When purchasing from an independent used-car lot, customers should try as much as they can to bargain and negotiate for a better deal or price. Independent used-car lots are generally open to negotiation and you may have to spend some time bargaining extensively before reaching for the best possible deal.

This is because independent used car lots may not be incentivized to offer deals and discounts as they do not have to meet any quotas. If you are not prepared or willing to bargain and negotiate, then an independent used-car lot may not be for you.

Research and Patience

You can buy a reliable car from an independent used-car lot or stretch your budget to obtain a used car with the most value. However, doing so requires research and patience. Before buying a used car, it is also best for consumers to do their research regarding the model of the car and also clarify extensively regarding the car’s history, age, and condition.

You should also obtain the car’s vehicle history report and arrange for the car to be checked by an independent mechanic. If you have already set your mind on a certain car model, try to find out the car’s dealer retail prices, and trade-in prices, and negotiate within that range.

You should also be prepared to set aside some money for the reconditioning of the used car and any additional checks that will be done to ensure the car’s functionality. If you are willing to take the time to research, verify and ascertain that the car is working well, then you will be rewarded with a reliable car at a good price point.