Don’t Make Them Work! Be Available to Digital Car Buyers.

By | Car Buying | No Comments

Be Available. Be Where the Car Buyers are Shopping!

Car shoppers used to be loyal to car brands and got their information from one source – the auto dealership. But times have changed, and gone are the days when consumers would go from auto dealership to dealership looking for the right car to purchase. Now, with multiple digital devices at their fingertips, car shoppers are able to ask questions and do research before even setting foot on the lot! Purchasing a car is a very considered decision for car shoppers; so how has car shopping changed with the digital world? The average car shopper today makes only 2 dealerships visits before purchasing a vehicle. It used to be that people looking to buy a car would find a deal, research it online, and then go to a dealership to test drive and purchase a car.  Now, although there are still ads, car shoppers are less influenced by them – and more influenced by their own digital and mobile research, comparisons, and pricing. Even getting real time advice from resources and dealerships! According to Google Trends, auto shoppers use an average of 18.2 different sources of information from TV, news articles, online, family, etc. before finally forming their final decision.

Did You Know...

TapCars distributes to more channels than any other service.

Today’s Dealership

Before the dealership visit, car shoppers are making decisions and forming their opinions based on their digital and mobile research. That’s why it’s important for dealerships to be omnipresent in these moments — if a dealership wants to stay in the consideration pool! Meaning that automotive dealerships need to be available online where ever and whenever car buyers are shopping. In addition to being available to car shoppers, dealerships need to be providing useful information; car reviews, YouTube videos, location, and contact information, etc., so the car shopper can easily locate them. Being useful online is important as most car shoppers enter the market unsure of what car to buy. Initially, car shoppers might start by asking friends or family for their opinions on what to buy or research car review sites. According to a TNS Media Consumption Report, research is showing car buyers being heavily influenced by YouTube videos when shopping for cars – 70% of car shoppers had watched a YouTube video when car shopping—more than TV, newspapers or magazines.

Car Buying Research

After asking for advice and doing some initial research, car shoppers dive deeper and look to YouTube for a virtual test drives, research gas mileage, seating accommodations, and other personal assessments — and do a “reality check” to see if the vehicle they are interested in fits their lifestyle and needs. The time spent watching vehicle related YouTube video’s has more than doubled since 2015! Then it comes down to price and location. 70% of searches for car shopping on mobile include MSRP (Manufacturer’s Suggested Retail Price), list prices, and “locate a dealership near me”. Of those searches “locate a dealership near me” has also doubled in the last year. Now it’s off to the lot!

Closing the Car Deal!

Half of all car shoppers use their mobile phones once they have arrived at the dealership. Although the vehicle they have come for has been carefully researched and selected – car shoppers also want to leave feeling like they also get the best deal. While at the lot, consumers are researching Kelly Blue Book and comparing prices offered by other car dealerships to use as leverage when sitting in the Finance office! So again, being prepared and knowing your role as the dealership in the purchase funnel is more important than ever!

Why Craigslist Postings are Challenging to Car Dealers

By | Car Selling | No Comments

Craigslist is NOT Dead

Some auto dealerships think Craigslist is dead – but that’s not the case! Car dealers must rely on digital tools to get the exposure they need to increase automotive revenue. Craigslist is a classified community and one of the best forums to sell used cars online — it has a simple interface, localized, and chronological listings that give the car shopper a sense of urgency to buy. Craigslist has also been an incredible source of leads for car dealers, but in 2013, Craigslist took criticism from dealerships when they started charging $5 for listings. This tactic was to keep dealerships from spamming Craigslist with multiple postings. Craigslist also states, in their Terms, that car dealerships can only post one car every 48 hours – this poses a problem for dealerships as they have many vehicles they are trying to move off the lot!

Craigslist Postings are Challenging to Car Dealers

Craigslist is ranked the #2 website in the US for inbound traffic (with Google ranked #1) that equates to 60 million users and more than 50 billion page views per month. Everyday these automotive dealers post their used car inventory, adding to the 80 million other ads posted by users each month. Craigslist was initially created as a community service tool, not to make automotive dealerships profitable. Over the years, there have been a significant number of posting issues car dealerships have had to overcome with selling inventory on Craigslist. Some of these issues include, but are not limited to, blocking IP addresses, car listings getting flagged, dealerships getting banned from posting, and multiple postings or posting to quickly.

TapCars Technology

always-available-technology

Always Available – Reaching Customers in Every Channel

Because of the fee and posting issues, many dealerships left Craigslist, but those that stayed have reaped financial and lead benefits! That’s why it’s important to have a 3rd party service like TapCars! TapCars makes used car inventory distribution fast and easy with our posting platform. It is a managed service that posts your listing in places where customers are looking; Craigslist, Facebook, Pinterest, Backpage and beyond. Our data tuned landing pages and multi-channel coverage drive massive traffic and a high volume of leads per car.  TapCars can automatically populate your CRM or send emails to your sales team.  More than a name and phone number, our lead generation program can include*:

  • Specific car
  • Recorded Voice Mail
  • Credit Application*
  • Employer & Monthly Income*
  • And more…

The TapCars reporting platform displays all your listings and lead activity into a single/easy to use dashboard. Want to export and email reports? You can automate the delivery and focus on selling cars. We’ll calculate views and cost per lead for you.

Use more than TapCars Posting Services for marketing? Connect your other marketing services and compare all of your data in a single location. The TapCars Interactive Dashboard is an important asset for understanding the success of your marketing program spend. Ready to see how TapCars can improve the profitability of your dealership? Book a demo with us and see!

Auto Dealerships on Craigslist

With digital connectivity from our computers to our tablets and mobile, more automotive dealers are coming back to Craigslist every day as well as for the first time. If you are an automotive dealership that wants to move more inventory faster, now is the time.  With over 500,000 cars posted, TapCars technology is a proven marketing tactic utilized by dealerships across the U.S.

Moments of Truth – How Car Buyers Shop

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Moments of Truth – How Car Buyers Shop

Car shoppers around the world, including the US, are changing how they shop for new and used vehicles. Gone are the days when consumers would go from dealership to auto dealership looking for the right car to purchase. Now, with multiple digital devices at their fingertips, car shoppers are able to ask questions and do research before even setting foot on the lot! The average car shopper takes only 2-3 months before visiting a dealership to take a test drive. Purchasing a vehicle is a very considered decision for car shoppers; so how has car shopping changed with the digital world? It used to be that people looking to buy a car would find a deal, research it online, and then go to a dealership to test drive and purchase a car.  Now, although there are still ads, car shoppers are less influenced by them – and more influenced by their own research, comparisons, and pricing. According to Google Trends, auto shoppers use an average of 18.2 different sources of information from TV, news articles, online, family, etc. before finally forming their final decision.

Customers are Taking the Wheel

The car buying process usually kicks off with the potential car shopper seeing an advertisement on TV, newspaper, billboard, or radio. And then customers take the wheel; and the car shopping process turns to digital. Auto dealerships are finding a greater need to influence car shoppers online, especially when it comes to classified advertising, to get car shoppers to even go into a dealership! That’s where we fit in, TapCars is a managed service that posts auto dealerships used car inventory across social media — where consumers are looking! The top 5 sources of influence on the path to purchasing a vehicle include test drive, looking at vehicles, getting an online quote, talking to a sales person and comparison shopping online. Car shoppers consider these experiences to be the most important in the car buying process.

Top 5 Car Buying Sources

Test Driving a Car

74%

Looking at Vehicles

71%

Requesting an Online Quote

59%

Talked with a Salesperson

58%

Comparison Shopping Online

45%

*According to Google/Shopper Sciences, Zero Moment of Truth Study – Automotive, Apr 2011

Online Car Shopping Research

Car shoppers are doing more of their own research online and spending less time at dealerships. According to a McKinsey report the average buyer visits just 1.6 auto dealerships while car shopping, down from 10 years ago when shoppers visited an average of five dealerships. No matter the source, digital plays a a huge role in the car shopping experience today. In-market research and comparison searches on mobile devices has more than tripled since 2011 making mobile an important ad format for auto dealerships. According to JD Power, 48 percent of vehicle buyers that shop on a mobile device use their smartphone while at the dealership, primarily to access vehicle pricing as well as model information, inventory and classifieds searches, and special offers and incentives.

Post Car Buying Behavior

As a result of the car shopper being more invested in the decision making process – they are more devoted to the car brand they have chosen. After purchasing a vehicle, car buyers are excited to share their experience online! Many will call, text, email or meet with family or friends to talk about or show off their new or used car purchase. Over 41% will engage in sharing their vehicle purchase in some form of digital or Social Media – via blogging, tweeting, Facebook or writing a review on a website.

Why Dealers Love Craigslist

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Why Dealers Love Craigslist

Colorful balloons, flags and inflatables were all it took get a car shoppers attention… oh the good old days! Today, auto dealers must rely on digital tools to get the exposure they need to increase automotive sales. Craigslist is a classified community and one of the best forums to sell used cars online — it has a simple interface, localized, and chronological listings that give the car shopper a sense of urgency to buy. Craigslist has been an incredible source of leads and revenue for car dealers, but in 2013, Craigslist took criticism from dealerships when they started charging them for listings.  However, the user experience improved dramatically as savvy automotive dealers realized that by reducing the total amount of cars posted on Craigslist, they would receive more exposure and new customers than they had before!

Craigslist Reach

Craigslist is ranked the 9th most visited site in the US (or 45th in the world) according to Infinite Prospects; with over 30 billion page views per month. Car shoppers go to Craigslist with the intention to buy; shopping for cars is one of the most popular searches on their website.  The average person spends roughly 13 minutes or more, per visit, when car shopping on Craigslist.

Craigslist attracts two kinds of car shoppers; those who are actively looking with an intent to buy and those that are browsing. Being that all micro moments of the car shopping experience are important — there is a key advantage to posting on Craigslist. According to Car and Driver the  #1 tip for a successful car buying experience on Craigslist is to hone your search. Craigslist allows users to configure their search results to include dealers, private sellers, or both. If a warranty, certified pre-owned status, or convenience is high on your list of priorities, you’ll want to restrict yourself to dealer listings, as there’s no reason to waste time scrolling through pages of clapped out Fox-body Mustangs and worn-out work trucks.

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Classifieds Postings

Craigslist is a great forum for classified listings, it is not always easy to keep updated if you are an auto dealership with a sizeable amount of used car inventory to sell. That’s where we come in, TapCars is trusted by some of the biggest names in automotive; from dealers and dealer groups and other vendors. The new Craiglist format brings personal and individual control to the table and makes it easier to focus on getting the right vehicles out there, with the right message. TapCars service delivers a product mix that generates qualified leads, improves inventory turn, and reduces marketing spend. This alllows dealerships to focus on selling cars – while leaving the marketing to us. TapCars posting technology reaches customers across all marketplaces & channels with attractive, informative, and user friendly display ads and easy programmatic distribution.

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Auto Dealerships on Craigslist

With digital connectivity from our computers to our tablets and mobile, more automotive dealers are coming back to Craiglist every day as well as for the first time. If you are an automotive dealership that wants to move more inventory faster, now is the time.  With over 500,000 cars posted, TapCars technology is a proven marketing tactic utilized by dealerships across the U.S. Get your free DEMO here: dealers.tapcars.com.

Is Your Car Inventory Online? The Rise of Digital Auto Shoppers

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Digital Drives Inspiration and Research

Car shoppers are doing their research online, 95% of car shoppers use digital channels for research and inspiration, with both mobile and video increasing year over year! So, how does digital drive car shopping decisions?  As a result, 80%+ of car shoppers are in-market 3 months or less. The car shopping process usually kicks off online with mobile and video ad formats prompting potential car shoppers to begin their research. Mobile ads have calls to action to visit the dealer, dealers website or contact the advertiser.

Online Discovery

No matter the source, digital plays a a huge role in the car buying experience today – from dealer visits, test drives, and reaching out to family and friends to help make a purchase decision! In-market research and comparison searches on mobile devices has more than tripled since 2011 making mobile an important ad format for auto dealerships. According to JD Power, 48 percent of vehicle buyers that shop on a mobile device use their smartphone while at the dealership, primarily to access vehicle pricing as well as model information, inventory and classifieds searches, and special offers and incentives. Thats where we fit in, TapCars is a managed service that posts auto dealerships used car inventory across social media — where consumers are looking!

When looking to buy a car, shoppers turn to mobile for a variety of reasons. The top 5 research activities on mobile are to view cars/trucks, call a dealer, read reviews, view current offers, and locate a dealer. Car shoppers are also using mobile for the same comparison activities. There are two primary actions in-market mobile shoppers do once they are on the lot; comparison/research and pricing activities. Comparison/research activities include looking at reviews, checking out a specific model, or reaching out to a family or friend for advice. If the car shopper is ready to buy they may search for pricing information, hours and contact information of a dealership, or researching discounts or other offers.

Video Engagement

Do you want to sell a vehicle? attach a video. Out of all the advertising formats, video ranks number one for driving consideration for car shoppers. The amount of time consumers are watching car videos is rising; one in four car shoppers watch an hour or more at some point during the research process, Google says. Video adds a human experience to the car brand, that text and photos can’t compete with. Things like infotainment systems, vehicle handling and emerging technology are easier and sometimes more exciting to illustrate with video. Nearly 84% of car shoppers said they would watch a video on their device next time they shop for a car. Videos help to introduce brands/new brands, help to learn more about specific cars/trucks, and to narrow down the purchase decision. In a research study by Google Think Insights, 74% of car shoppers said that they looked online at videos to learn about specific cars/trucks. And 57% said that videos helped introduce them to new brands. Almost half of all those who watched a video made a trip to the dealership!

Owning it!

Trends in the automotive industry have changed with the rise of digital connectivity. The car shopper’s journey is self driven backed by deep research. With car shoppers being digital savvy, dealerships need a strong online, mobile, and video presence to keep up with consumers — from inspiration to ownership!

Automatically Add Used Car Inventory to Facebook

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TapCar’s Facebook Inventory Listing Widget

Build a social following or post inventory on your Facebook timeline? This question posed a difficult challenge for any dealer that wanted to build a comprehensive social strategy & ensure that consumers could see what cars they had available. The new TapCars Facebook Inventory Widget solves this dealer specific social marketing challenge.

TapCars Changes How Inventory is Posted on Facebook

With the TapCars Facebook Widget, we connect your inventory feed to our widget, and consumers can browse through your inventory without ever leaving your page. Best of all, the widget is added as a new tab – allowing your marketing team to continue building your brand without compromising eyeballs for single car posts.

Facebook Inventory Tab - as shown on dealership wall

Did We Mention It’s Free?

Current TapCars customers can have their new Facebook Inventory Tab added for free. Follow our short 3-Step Quick Start Guide to get started. Your cars are posted and removed automatically as soon as they come out of your feed. No maintenance required!

Common Questions About the Facebook Inventory Tab

  • Do we (dealership) still control our Facebook Page?
    • Absolutely. This new feature only requires permission to provide information to your page – which comes from the same data feed used for your posting services.
  • What cars are included in this new tab?
    • The Facebook Inventory page uses the same criteria for posting that we use for craigslist, pinterest, etc.
  • Can I still post individual cars to my news feed?
    • Sure thing. Since you control your Facebook page and news feed, you can continue to post anything you like.

How to Get Started

If you’re a current TapCars customer, see our Quick Start Guide to connect your Facebook account to our inventory widget.

If you’re not a TapCars Customer and want this Inventory Widget on your Facebook page, contact us for a demo or give us a call and we’ll get you set up right away.

Does the Mobile Shopping Experience Come Up Short for Consumers?

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Mobile Comes Up Short Among Auto Shoppers

Although general mobile usage is about to surpass desktop, there are some activities that are still better suited for desktop, especially among automotive shoppers.

Desktop vs Mobile

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Have you ever tried building or customizing a vehicle from your phone? How about comparing specs across several different vehicles? The small screen of a mobile phone just doesn’t measure up to a desktop interface. Dealerships and manufacturers have made significant investments making sure their sites are mobile ready but simply relying on a responsive design doesn’t make it any easier to engage with these more complex tools. Other points that are better on desktop include researching warranty information and watching videos on manufacturer websites.

On the other hand, in-market research and comparison searches on mobile devices has more than tripled since 2011 making mobile an important ad format for auto dealerships. According to JD Power, 48 percent of vehicle buyers that shop on a mobile device use their smartphone while at the dealership, primarily to access vehicle pricing as well as model information, inventory searches, and special offers and incentives. When looking to buy a car, shoppers turn to mobile for a variety of reasons. The top 5 research activities on mobile are to view cars/trucks, call a dealer, read reviews, view current offers, and locate a dealer. Car shoppers are also using mobile for the same comparison activities. There are two primary actions in-market mobile shoppers do once they are on the lot; comparison/research and pricing activities. Comparison/research activities include looking at reviews, checking out a specific model, or reaching out to a family or friend for advice. If the car shopper is ready to buy they may search for pricing information, hours and contact information of a dealership, or researching discounts or other offers.

Automotive Mobile Usage

According to research from Facebook, vehicle shoppers in the US not only use mobile devices as they research both new and used cars, they even prefer them for other activities. A majority of vehicle shoppers, for example, said mobile was a better way to ask friends and family about auto options, and about two in five preferred to book a test drive from a mobile device.

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Vehicle Shopping Activities That Work Better on Desktop vs Mobile Devices According to US Vehicle Shoppers Sept 2015

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Note: Ages 18-64 who intended to buy/lease a new vehicle in the next year; among those who primarily used a mobile device for auto research.
Source: emarketer.com

In Summary

So, instead of trying to recreate the desktop experience on a mobile phone or tablet, dealerships and manufacturers should focus on specific functionality within their mobile site; reading reviews and features, finding the nearest dealership, searching inventory, contacting a dealership, scheduling a test drive and communicating with a salesperson. 58% of car shoppers say, that in the future, their smartphone is likely to be the only device they use for all their vehicle research.

Mobile and Video Drive Research for Automotive Shoppers

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Digital Research Matters in Automotive Shopping

Today’s consumer is more connected then ever with more access to, and deeper connection with, automotive content and brands. Not only do consumers have more devices to choose from, but they own more devices than ever before! According to a Neilson Report, American’s on average own four digital devices and engages with media content over 60 hours per week. When we look at the stats, 72% of automotive research involves cross shopping between different digital devices. This includes in-market shoppers who are using connected devices, like mobile, to perform research and competitive shopping activities. As digital research has increased, car shoppers are in-market fewer months — 82% are in-market 3 months or less. The research process for buying a vehicle often begins online and ends at the dealership. The research process often kicks off with consumer advertising, where 3 out of 5 of the top ad formats persuading car shopping activities are digital. Over the process, there is an average of 24 research touch points on the path to purchasing a vehicle, with mobile and video driving this activity. Shoppers can research their new and used car purchases before going to the dealer, and with some mobile apps, even buy a used car.

Mobile Car Shopping

Screen Shot 2016-05-27 at 4.29.34 PMIn-market research and comparison searches on mobile devices has more than tripled since 2011 making mobile an important ad format for auto dealerships. According to JD Power, 48 percent of vehicle buyers that shop on a mobile device use their smartphone while at the dealership, primarily to access vehicle pricing as well as model information, inventory searches, and special offers and incentives.
When looking to buy a car, shoppers turn to mobile for a variety of reasons. The top 5 research activities on mobile are to view cars/trucks, call a dealer, read reviews, view current offers, and locate a dealer. Car shoppers are also using mobile for the same comparison activities. There are two primary actions in-market mobile shoppers do once they are on the lot; comparison/research and pricing activities. Comparison/research activities include looking at reviews, checking out a specific model, or reaching out to a family or friend for advice. If the car shopper is ready to buy they may search for pricing information, hours and contact information of a dealership, or researching discounts or other offers.

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Video to Reach Car Shoppers

The amount of time consumers are watching car videos is rising year over year; video adds a human quality of the driving experience to the car brand. Things like infotainment systems, vehicle handling and emerging technology are easier and sometimes more exciting to illustrate with video. Nearly 84% of car shoppers said they would watch a video on their device next time they shop for a car. Of all the ad formats video is number one for driving purchase consideration amongst car shoppers. Videos help to introduce brands/new brands, help to learn more about specific cars/trucks, and to narrow down the purchase decision. According to Google Think Insights, 49% of car shoppers visited an auto dealership after watching a car/truck video!

In Summary

There is no doubt that digital research is driving automotive purchase decisions. With constant connectivity, shopping is 24/7. Whether making an everyday purchase or researching larger ticket items like cars and trucks, mobile is a critical platform for consumers. So how should this information impact your advertising if you are an automotive dealer? Here’s your dealership marketing checklist for making sure mobile and video are part of the mix:

  • Your website should have a responsive design for easy mobile access.
  • Incorporate more video into your site, display ads and social media.

“To Buy” or “To Lease” Your Next Car – That Is The Question.

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Automotive Leasing Trends

According to an analysis by Polk, leasing a car has accounted for 28.9 percent of all new car purchases by Millennials, those under 35, in 2015. This percentage exceeds the industry wide lease penetration rate of 26.7 percent, and reflects a 46 percent increase in leasing by Millennials over the last five years. By comparison, the share of leasing among all car shoppers has increased 41.7 percent during that period. The younger generation are definitely leasing – with college students facing loan debt – they are looking for the best ride at the lowest monthly payment. Leasing provides, for drivers of all ages, an option to drive a car with little down payment and allows for lower monthly payments than a conventional auto loan. Leasing results in the car buyer driving a newer car, with low maintenance, and less money overall. How much money can be saved leasing vs buying a car? According to Experian Automotive leasing could save nearly $100 per month.

Car Leasing Pros

Some of the advantages of leasing, instead of buying, include lower monthly and down payments, pay sales tax only on the portion you are financing, and drive a newer vehicle with less maintenance costs (as most leases come with a factory warranty to cover most repairs). This option also allows you to drive a new vehicle every 2-3 years when your lease ends. Also, if your lifestyle changes, transferring a lease to someone else is usually pretty easy.  There are two websites that will handle the transfer paperwork — as well as help you find someone to take over your lease. One transfer site is called SwapaLease, and the other is LeaseTrader. Another benefit is that there are usually no hassles when your lease ends! simply turn it in and sign on the dotted line.

Car Leasing Cons

You don’t own the car you are making payments on – you are simply renting it. Also, in the lease agreement, a set amount of annual miles is determined (usually 12,000-15,000) — if you go over, you will need to pay for excess mileage. If you have accrued any damages to your leased vehicle, you will need to pay for them at the time you terminate your lease. Another con is if your driving needs change during your lease agreement and need to terminate your lease it could be costly to do so.

Car Buying Pros & Cons

When it comes to buying a vehicle there are pros and cons as well. If you own the car you are free own and to modify it as long as you wish. For example, Jeep owners enjoy upgrading, modifying and changing up the look and features of their vehicle – you can’t do that in a lease! Also, if you own your car for an extended period of time, buying does save you money in the form of a trade in vehicle. If you own the vehicle, there is no cap on the miles you put on it. If your lifestyle changes, you can sell the car whenever you would like without any termination fees. The cons of buying a vehicle include needing more money down to purchase and higher monthly payments. You also have more money tied up in your car — which is constantly depreciating. Based on the Car Depreciation Calculator on Money-Zine.com, a brand new $30,000 car will only be worth about $18,000 after 5 years! There might also be more hassles when it comes to selling your vehicle vs just being able to “turn in ” your leased vehicle. If neither of these options work for you, a 3rd option is to buy a Certified Pre-Owned vehicle (CPO). Using the same Depreciation Calculator, buying a 3 year old version of that same $30,000 car might only cost you about $18,000 and the depreciation rate slows down considerably. After 5 years you could still sell it for about $8,000. Also, the monthly payments and down payments for a used car are going to be similar to a lease.

In Summary

Is leasing a car right for you? It comes down to lifestyle and preferences. Some people like driving a new car every two to three years or it might make sense if you are in a profession that gets a tax write off? But for most, it comes down to budget.  Do your research – there are a ton of auto payment calculators that can help you determine if  leasing or buying new or used is the best option for you and what best suits your lifestyle and finances.

 

 

Calculate Your Depreciation

Car Buying; the “Where” and the “When”

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Where should I buy it?

Although we see more of the car buying process happening online, visiting an automotive dealership is still a critical part of the process. According to Google Trends, search interest for “car dealerships near me” has doubled in the past year. And of those that used their mobile devices as part of the purchase process, one in three located or called a dealer on their mobile device. In addition to distance, car buyers look at other trends when looking to purchase a vehicle – some of them include seasonality, timing, to get the best deal!

Seasonality

Seasonality plays an important role for the used car shopper. Dealerships need to be on high alert in the Winter months – which offers the greatest potential discount to car buyers.  Every February, for instance, there is a spike in search interest for “cars for sale” possibly due to people anticipating a big tax return.  Summer is another important seasonal moment. When the temperatures rise, so does the interest in car shopping. Search interest for “lease deals” peaked last Summer, up 20% compared to 2014 according to Google Trends. One thing to note is if you have your heart set on a particular make or model, inventories can also become more limited during these peak times, so it is important to weigh the discount vs. getting the car you really want.

Timing; End of the Month, Quarter, Day and Time

As far as timing goes, leverage the best discount possible with the dealership at the end of the month. Also, buying a car at the end of a quarter might increase savings. Why is this a prime time to purchase?  It comes down to an auto dealerships goals, most automakers set sales goals for dealers, and then dealers set similar goals for themselves. Often, these goals include bonuses if they achieve them, which is a big incentive for auto dealers or salespeople who close extra car sales at the end of a month/quarter. Also, buying a car at the end of the day or week (Sunday) can also play into pricing. An eager dealer or sales person won’t let you leave if they know you are serious about buying which can also lead to savings.

The DEAL!

Start doing some research online by getting price quotes from multiple dealers before you go to the dealership to purchase. Also check if a car company is offering any bonus perks like cash back or special financing. If you are buying a used vehicle auto makers, like Ford, may offer lower pricing or special rates on CPO vehicles as an incentive – which can save you by having lower monthly payments. Also, refer to your bank to see if you can get a low interest loan, and then go to the car dealer to see what their financing offer is. Generally banks offer a 4% low interest loan.

Owning it…Our Tips? Shop for your ideal car early in the month or season, and purchase it later in the month or quarter/season. Get your test drives out of the way, and begin narrowing your list. When the last few days of the month come around, start visiting automotive dealerships to start the final negotiating process and own your ride!

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*we'll never share your information