The Vehicle Trade-in Game Keeps Changing

WOODSTOCK, Ga. - Sept. 29, 2021 - PRLog -- Trading in a vehicle is a whole different ball game in today's world. The surge in digital acceptance (payments, etc.) on consumer durable transactions is approaching a state of incomprehensibility. COVID-19 forced the world to transact on the internet, not only for sustenance, but also for employment, entertainment, and even the purchase and sale of automobiles.

Who is leading the change?

Interestingly, 65% of all the people we transact with at are female and 72% are reaching us via mobile devices. Factoring in the general aversion that people have toward car dealerships, they seek to escape non-essential human contact wherever possible. The pandemic has helped create a new segment for companies that can accommodate people wanting to sell a vehicle quickly and efficiently.

What's driving the change?

The world has been begging for a better way to buy a car, including saving time. It pains me to say this but people dislike car dealerships and the hours spent perusing, waiting, test driving, and negotiating the deal. People abhor car dealerships because of all the friction and posturing involved. Three out of four customers are very tense and suspicious, diving headfirst into the transaction loaded for bear. These consumers are prepared for battle and walk into the dealership with a "slay or be slayed" attitude.

Supply and Demand

COVID crippled the automobile industry globally. An automobile contains tens of thousands of parts and several miles of wire. Factor in sophisticated digital componentry and the parts to make your Ohio-made vehicle are coming from all over the world. The plants that make semiconductors (the chips) cost billions of dollars to build and research and testing for new products can take up to a year.

What about selling my car to a private buyer?

Finding a private buyer for your vehicle will be "easier" in times where demand greatly exceeds supply, but remember…desire does not equal ability. Just because somebody "wants" to buy your vehicle doesn't mean they are in position to transact in a seamless fashion. Let's start with you having a car to sell. Does your vehicle have a lien that needs to be paid off? Does your vehicle need repairs?

What's the answer?

It depends how much time you are willing to invest chasing the extra $1,500 - $2,000 you might make on a private sale. That's about all you will get over and above what half a dozen online car buying agencies will pay you for the privilege of buying your vehicle. Some are better and faster than others but most are concierge grade and will come to you. Selling your car online is faster, safer, and much easier than trading it in or finding a private buyer.

Michael Lasini
Tags:Car Buyer Usa
Location:Woodstock - Georgia - United States
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