Caveat Emptor: "Let the Online Car Buyer Beware"

Selling Your Car Online/Buying a Car from an Individual

“For Sale By Owner”

Thousands of Americans every year attempt to sell their car online. Sites like Autotrader, eBay and others seem to make it so easy for the average person to sell their car for top dollar. Individuals are turning more and more to the internet to list their car "For Sale By Owner" for a variety of reasons. One would think that it’s usually because the big car dealers are offering them too little money for the cars. While that can be true sometimes-it is not always the case.

The main reasons individuals try to self-sell their cars online:

The Car Was Wrecked

Maybe it’s on the CARFAX, maybe it’s not. But either way, the dealers can spot a wrecked car before the CARFAX or AutoCheck reports. At BobStallingsCars.com we use a device, called an Elcometer. We can detect the thickness of the paint. For the most part, panels read roughly the same number. For example, if all doors and panels read a “6” and the hood reads “18” we know that the hood was repainted. Our skilled professionals are able to then assess the damage and make sure that all repairs were made properly. Folks should know, it’s okay to buy a car with some touch up work, as long as it’s been disclosed, been painted with factory paint and a discount has been offered. Even the most professionally done touch ups are noticeable to dealers and when you go to trade out of the car, your offer will be lower than a car with no touch ups.

The Seller is “Upside Down” on the Car

Meaning they owe more on the car than the market value of the car. Americans have seen this happen in the mortgage industry and it is a common problem in the automotive industry now. During economically difficult times, many consumers obtain loans with $0 Down, or leased their vehicles. Not only does the individual seller need more money for the car- HE ALSO DOESN’T HAVE THE TITLE in hand. Never buy a car without the title.

The Car has been Modified

Upgraded, tricked out, “pimped”, after market, custom…all of these terms mean MODIFIED. The seller has modified the car in a way that not only usually devalues the car but, voids the warranty. Sure- a lowered car with low profile tires and non-factory wheels can look really hot! But, the second you change the suspension on a car you void the warranty. Only in rare cases can non-factory wheels increase the value of a used car. Buyer beware of “custom” work that is being sold by an individual online. Custom Paint? Same thing. A complete paint job is usually a tell-tale sign of someone trying to cover up an accident. Even if it’s in a complimentary shade to the car.

BobStallingsCars.com Vehicle Finder!

Unhappy with the Dealer’s offer on your car? Check out the BobStallingsCars.com Consignment options. Instead of taking your own photos, have your car professionally photographed. Instead of trying to write your own listing, let BobStallingsCars.com professional listing writers market your car appropriately. Not sure on how much to ask for a selling price? Who knows better than an auto dealer? Scared to meet strangers to “test drive.” Let BobStallingsCars.com help those strangers in our convenient location based near the Addison Airport.

Financing

The most important issue that affects self sellers---How their customers will pay for their car. Most Americans do not pay cash for their cars. Most, even wealthy Americans, Lease or Finance their PreOwned Vehicles. At BobStallingsCars.com we have an extended book of lenders who can make sure your customers get approved!

Have More Questions on Consignment? Call Lindsey Stuart: 972.248.2277

Lexus LX 570 “I Can See Around Corners”

The Lexus LX 570 is the first ever car with the ability to see around blind corners that drivers can’t see. The Lexus LX 570 has a standard blind corner monitor installed in the front navigation panel. This front and side video monitoring system displays blind spots for the driver and assists with parking. The cameras are installed below the logo on the front bumper; to see a 180 degree view on the front, exterior left; to view the back side, right outside of the back passenger door. All of this amazing technology doesn’t change the luxurious and refined look of the Lexus that we are all expecting. If the vehicle goes below 5 miles per hour the navigation automatically goes onto the navigation screen. The Lexus LX 570 was the first car to add this feature. Lexus is always thinking ahead and truly knows today’s driver.

Another notable feature is the “Crawl Control” feature. Name stemming from cruise control, this is an additive off-road-capable feature made for multi-terrain driving. Off roaders also enjoy the multi-view cameral in order to avoid any scratches or dents by the rough terrain. The antilock breaking system is also designed for terrain by reducing stopping time on sand or gravel. The Lexus LX 570 is made strong enough to battle the toughest terrain and is still packs in the luxury of Lexus.

Speed, intelligence, functionality, luxury and room for 7! This fully loaded Lexus LX 570 is the perfect blend of family hauler, daily driver and mudder-both on and off Main Street. Please visit your trusted used car dealer of Carrollton here to find out more about the Lexus LX 570!

Discovering Depreciation

2008 Mercedes-Benz E-Class 550 Carrollton Texas

Standard Luxury Vehicle Depreciation

Depreciation of your vehicle is a ugly thing. Most experts agree that a new car depreciates $3000-$5000 as soon as you drive off the lot. There are even website calculators devoted to guessing how much an average vehicle will lose. Check out Money Zine Depreciation Calculator to see how much your vehicle will depreciate before you pay it off. Also, Edmunds True Cost to Own Calculator can help in deciding which brands hold their value better than others.
According to Bankrate.com:

Depreciation for Dummies

1) Rule of Thumb

Let's start with some basics. Here's a standard rule of thumb about used cars. A car loses 15 percent to 20 percent of its value each year. A 2-year-old car will be worth 80 to 85 percent of its 1-year-old value. A 3-year-old car will be worth roughly 80 to 85 percent of its 2-year-old value. Let's say you have a 1-year-old used car worth $12,000 that loses 15 percent of its value each year. At 2 years old, the car would be worth $10,200. At 3 years old, it would be worth $8,670.

2) The First Year Sting

The depreciation in a car's first year tends to be even steeper. A new-car owner feels the sting immediately. A new car loses a big chunk of its value as soon as you drive it off the lot. Here's why.
When purchasing the car, you paid a retail price -- the price a dealer charges for a car. As soon as you're off the lot, the car is worth its wholesale price, the amount a dealer would be willing to pay for a car should you turn around and head back.

3) Where did the Value Go? 

So a brand-spanking-new car or truck loses thousands of dollars of value as soon as you drive it home. Whatever money you spent on taxes and licensing is gone for good as well.
"Just the difference between wholesale and retail prices is a large amount of what goes away right away," says Charlie Vogelheim, editor of Kelley Blue Book."

Save Car Value & Money

Unless you are leasing a vehicle, purchasing a 1-2 year old vehicle will save you thousands. Used cars hold their value much better. And, at BobStallingsCars.com, most of our PreOwned vehicles still have the remaining balance of their factory warranty which negates the cost of an extended warranty.

For a real trade appraisal, call us, email us at Sales@BobStallingsCars.com or visit our website. We will give you a 10 day buy bid on your vehicle.

In the market for a car? We don't have it in stock? No Problem! We will locate you one for a fraction of what our competition will sell it for. Just email Sales@BobStallingsCars.com or take advatage of the vehicle finder tab on our site.

Call and talk to the experts today! 972.248.2277- 972.248.CARS
BobStallingsCars.com
Driving the Future of Car Buying

Related articles

• How to Visually Inspect a Vehicle Prior to Purchase (bobstallingscars.blogspot.com)
• How to Buy a Used Car with Help from the Internet (bobstallingscars.blogspot.com)
• Non-Commissioned Salesmen | The Future of Car Buying (bobstallingscars.blogspot.com)