Process Essay
Thesis: The majority of the American population has very little, or no understanding of the used car trade. A simple understanding on when and where to sell, how to get your car ready, writing a classified ad, negotiating, and making a contract.
With consumer demand rising and supply constrained by several factors, including the tendency of new-car owners to hang on to them longer, prices for used vehicles have been climbing steadily. According to one recent study, nearly three times as many shoppers now want to buy a used, rather than a new, vehicle. (Dalglish)
In trying to find the perfect buyer, your options include: new-car dealers, used-car dealers, and friends and strangers. New-car dealers are generally eager and ready to buy. They are incredibly picky about every aspect of a car’s condition. New-car dealers will be choosy about the make and model, preferring newer models in relatively good condition.(Makower) They will pay a relatively low price for the car. Used-car dealers are also eager to buy and incredibly picky about every aspect of a car’s condition. But they aren’t very choosy about the cars they buy. However, they will pay a rock-bottom price for the car. Friends and strangers are usually eager and ready to buy. They will be much less picky, and rely more on your word for information. They will be choosy about the car, but will already be interested in the car through your ad. You will get the best price, through negotiations, but you have to work harder. The best time to sell is in the springtime when the weather turns nice. Other good times are in September when kids are going off to college; and in the dead of winter, when there is no competition.
It is possible to turn the average used-car into a saleable commodity in just a few hours. You should dress up your car, regardless of the condition you normally keep it in. You want to make it clean, neat, and even smelling nice. You must do this to the entire car, inside and out, from one end to the other. Most car buyers understand that appearance is a good indicator of how well someone treated the car overall. Nine important steps to take are: washing and waxing, painting and touching up, cleaning your tires, a thorough cleaning of the interior, gather all the important documents, steam...
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...importantly, make copies of everything you sign. The bill of sale is the basic car-buying document that records the transaction. The following should be included: the date of the sale, year and make and model of the car, state registration, VIN number, odometer reading, amount sale is for, extra conditions, and the buyer’s and seller’s names and addresses and phone numbers. Make sure that each party gets a copy of the bill of sale.
A large percentage of the population uses the automobile regularly. The majority of the population, over 90%, has little or no understanding of the car buying art. (Robertson) Many people feel that selling their car themselves can be a real hassle. But, if you can realize that you will get several hundred dollars more than what a dealer might offer you, it just may be worth a little effort and time on your part.
Works Cited
Dalglish, Brenda. “Better Than New: used-car prices jump as consumer demand grows.”
Maclean’s 10 Jul. 1995: 22-24
Makower, Joel. How to Sell a Used Car. New York: Perigee Books, 1988.
Robertson, C.B. How to Deal on an Automobile. Lyons: Blue Mountain Publisher, 1988.
The simple car that was easy to fix with some simple tools have now become as complex as a supercomputer on wheels. Most people today have decided that automobiles of today are too complicated and just send their cars to a professional for repairs. As of January 2013, the average age of a vehicle operating on the roads today is 11.4 years old. (Associated Press, 2013). People are holding on to their cars a lot longer than in the past. Although, some claim that it is because today’s cars last longer. There is no doubt that today’s economy is also playing a part in the public’s reluctance to part with their older vehicles. However, cars will always need repairs.
...n, David. “The Advantages of Buying a New or Used Vehicle.” Car and Driver. May 2009. Heart Communications, Inc. November 24, 2013. http://www.caranddriver.com/features/the-advantages-of-buying-a-new-or-used-vehicle.
Purchasing a car is one of the biggest and most important decisions that someone will make during their lifetime. Over the past several years, the prices of a vehicle have increased significantly due to the rise of inflation. Economists compare averages of vehicles to calculate and determine the cost of every vehicle that ends up on the car lot. To determine the cost they interpret all the above information and include everything from the cost of making the vehicle to the time of selling it. In the long run, the demand for vehicles is inelastic because they become a necessity for many people. However, in the short run, the demand is elastic because the purchase of a new vehicle can be put off for a while.
Used car dealerships are a dime a dozen. Some are wonderful, some are terrible, and most fall somewhere in between. ABC MotorCredit prides itself on providing exemplary service to multiple communities across Ohio. There are many reasons that ABC MotorCredit stands out from the crowd when it comes to providing excellent customer care and great quality vehicles.
Offering consumers access to an extensive inventory online along with warranties, service, financing, appraisals, and add the consumer’s ability to sell the car to the dealership is CarMax’s brand. CarMax needs to continue to leverage their competitive strengths while making sure they offer the best-priced cars to the very competitive used car buying consumer. While it may be attractive to CarMax to enter new car market, they risk losing the ability to conduct their business model as manufacturers have various rules and contract requirements to carry the Chevrolet, Buick, Cadillac, Honda, or Toyota product lines. With this, they risk losing their brand recognition and identity with their consumers. Additionally, costs associated with buying an existing dealership with inventory and various licensing and franchising fees have the potential to drive up costs and therefore threaten their ability to price
“Automobile In American Life and Society.” Automobile In American Life and Society. N.P., n.d. Web. 16 Feb. 2014.
When I turned twenty-two I was excited to purchase my first car, I had been saving for 5 years in order to obtain the car of my dreams. I knew exactly what I wanted, all the “bells and whistles”, and I knew exactly what I was willing to pay and not a penny more. I thought I had a strong knowledge of the sales and pricing of the particular car I was hoping to buy, because I had done my research for weeks browsing and comparing the Sunday car ads. I was assured that my knowledge of the sales would get me a fair price and a great deal. However, my overconfidence and naivety, in the “creepy” sales tactics used by the dealership, made me unaware of the three hour nightmare that was about to ensue; leaving me brokenhearted, angry and vowing to never step foot on a car lot again.
AutoZone has responded to changes in its' macro environment by placing stores in regions "that have large number of vehicles seven years old and older because of these cars' need for repairs and maintenance" (Wikinvest.com, 2012). Nationally, sales of new automobiles were at a 30-year low in 2009, but they have since rebounded slightly. Customers are still reluctant to buy new vehicles due to concern over high prices and general jitters about the economy. To combat this, many manufacturers have been offering discounts to lure consumers to purchase. As a result, AutoZone is facing a boon in the marketplace- "the cars and trucks in America's driveways have reached a record old age" (USAToday, 2012). In addition, there are more vehicles registered in the U.S. than previously.
delivery companies, mechanics and many more persons . By buying these used auto parts we shall be
According to Carmax annual report (2016), used car retailing business is dependent on many economic factors and unemployment rate is one of the factors. It helps in determining consumer buying power. Gradual decrease in it from 10% to 4.9% since financial crisis, (U.S bureau of Labour Statistics, 2016), provided the boost to the automotive retail
There are a lot of decisions being made when looking for a vehicle. In order to make the right ones you have to understand what you want but mainly what you can afford. There are many ways you can purchase a car, whether you buy it from a car dealership or a private seller, the process is normally the same. The first thing you should do is set a budget that suits your needs. This will save you from having financial problems later. You don't want to receive repossession letters months ahead for not paying your car on time. Next you want to decide on whether you prefer a new or used vehicle. Pre-owned vehicles require more attention because unlike new vehicles, they've had...
The trends that have been most instrumental in the shaping of America over the past sixty years have been suburbanization and the development of our consumer culture. These two phenomena have changed not only the face of America, but also the fabric of our society, our values and aspirations. Suburbanization and consumer culture are broad, sweeping terms that encompass many different catalysts of change. However, the automobile is an important product and tool of both of these institutions. This paper examines the inundation of American society by the automobile during the post war era as a key catalyst for the rise of consumer culture, its role in facilitating suburbanization and some of the negative impacts the automobile has had on America. Over the past sixty years America has changed greatly to become what it is today, and these changes have largely been driven by our national love affair with the automobile.
When you hear the term “used car”, what is the first thing that comes to mind? Some may think of an old rusty Cadillac that belongs in a junkyard. Others may think of that nice Camaro at the used car dealership for sale. Over the years, used car sales have skyrocketed. In 2012, over 40.5 million used cars were purchased in the United States (Atiyeh, 2013). Used cars are in high demand in today’s economy because of the lower prices, slightly higher gas mileage, and that they can be more trustworthy against some of the newer models. With used car sales always climbing, how do buyers know what they are looking for in a vehicle? How do they come down to the final decision of where to purchase the vehicle? Most importantly, how can buyers make sure that they do not get scammed? This paper will take you through the process of purchasing a used vehicle, from deciding on a budget, all the way to the final purchase of your “new” car.
Types of goods will help us determine whether demand for cars is elastic or inelastic. If a good is considered to be a luxury rather than a necessity, the greater is the price elasticity of demand (McConnell & Brue, 2004). Cars can be deemed as necessary due to a need for transportation. Other types of cars can be classified as luxury. A person who needs to be able to get from one place to another will have the need for a car. An old vehicle may suffice. In such a scenario, buying a brand new car is more likely to be a luxury rather than a necessity. If car prices go up, people are more inclined to just keep driving their old vehicles. In essence, the cars already on the road would serve as substitutes for new cars. However, over a longer period of time, old cars tend to wear out and the elasticity of demand for vehicles is less.
With convenience comes cost. There are many costs associated with owning a car. Firstly learning to drive can be prohibitive, with lessons often out of a lot of peoples budgets. Once you have passed your test buying a car can also prove expensive. It is often the case we have to buy cheap second hand cars as new cars are very expensive. Sometimes this is fine and you can have a reliable car, but other times you pick one up that’s not been well maintained and can cost you a fortune in repairs and keeping it on the road.