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What is An Auto Broker?

Most consumers are accustomed to the idea of engaging professional assistance when it comes to important purchases. For instance, realtors and stock brokers are routinely used to assist with the purchase of real estate or investments. These are things that a consumer could technically arrange on their own, yet many find that it is easier and/or smarter to solicit professional assistance.

Despite the fact that a car purchase is one of the major life investments consumers make in their lifetime, the concept of using an auto broker to help arrange the sale of an automobile has not yet become widely embraced by the general public - in fact, many people do not even know that using an auto broker is an available option when it comes to making a car purchase. Below we will attempt to outline some of the key benefits that auto brokerage services hold for car buying consumers.

What an Auto Broker Does

Quite simply, an auto broker manages the process of buying a car on behalf of a customer. This includes finding the desired vehicle, negotiating the price, delivering the final paperwork, and securing financing, if necessary. An auto brokers job is to help the customer save time and money in the car buying process.

Why Use An Auto Broker?

Auto brokers offer several advantages for consumers. The following are a few of the key benefits:

  • Convenience - Saving Time
    Using an auto broker saves consumers the time and effort of having to car-hunt at dealer lots, an activity which most people find to be less than desirable. Because auto brokers are essentially professional car buyers, the entire sale process is typically seamless and straightforward.

  • Negotiations - Saving Money
    Because auto brokers have professional relationships with networks of car dealers, they are able to secure discounted pricing that they can then pass along as savings to their clients. Even when the auto broker's fee is factored in to the total cost of the car, the consumer still usually ends up saving money on their purchase.

  • Preferential Treatment - Getting What You Want
    Auto brokers ensure that their clients receive great treatment by car dealers, and are often able to enjoy perks that are not available to members of the general public. For instance, if there is a waiting list for a high-demand vehicle an auto broker's customer may get bumped up toward the top of the list.

  • Peace of Mind - Buying with Confidence
    Consumers who use auto brokers enjoy the confidence of knowing that they have a professional advocate on their side in the car buying process, so they don't have to worry about the possibility of fraud, deception or other consumer woes that are all to common on the auto industry,

Who Can Use an Auto Broker?

Any consumer who wants to buy a car can use an auto broker. In the past, auto brokers have had a reputation for serving the higher end of the car market (e.g. luxury cars), but most brokers today will work with just about anyone seeking to purchase a new car, or a late model used vehicle.


What Does an Auto Broker Charge?

Auto broker fees are typically determined either as a flat rate or as a percentage of the value of the car being purchased - some brokers will take their fee as percentage of the savings they negotiate for you. Whatever the pricing model, auto broker fees typically range between $400-$800 dollars (higher for certain luxury vehicles). Most auto brokers get their fee directly from clients, although some get paid by the dealership.

Even when the auto broker's fee is factored into the total expense of the car, the end cost to the consumer is usually less than or equal to the deal they would have got on their own - so minimally, the consumer gets the service of the broker for no extra cost, and in many cases, saves money on top of having the convenience that the broker service provides.


In Conclusion…

We hope this overview has been helpful in highlighting what auto brokers do, how they do it, and what the benefits are for consumers. If you would like additional information, please feel free to contact the AutoHeroes at any time for a free consultation-we'll be happy to speak with you.


 

 

 
 
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