Friday, November 18, 2011

Online Car Buying

I was reading a Globe and Mail article today about a new online car buying site for Canadians  Its, you pay a fee of $47 for them to send your car request to dealers in your area, the dealers submit offers and you get to choose if you want to accept one of their offers.  You pay a $250 deposit to hold the deal and the dealers do all the paperwork and whatever else needs to be done to get you into the car for your agreed upon deal.  This is the best thing I have ever heard of in car buying.  Of course it is basically useless for us here in NL, one bacause I don't think any dealers have signed up for the service yet, I tried using my postal code and two because there really is just not much competition here for most dealerships.

I used the old Toronto, Ontario M4Y 2M9 postal code I remember from watching Circle Square 35 years ago and found 10 BMW Dealerships within a 50 KM radius, meaning you would have 10 dealers offering you the best deal on a BMW.  You would have to save thousands of dollars in a situation like that, for a cost of $47.  The service also provides you with dealer invoice costs so you can figure out how much the dealership is still making off you if you accept their offer.  Maybe next time around I will give it a try just to see what I can save for $47 bucks.  If nothing else you can probably take those offers to the local BMW (or whatever type of car you are buying)  dealership to see if they will cut you a better deal.  I am guessing they won't but it might put a scare into them at least.

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