3 Ways the Internet Has Changed the Used Car Market

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We live in a digital era where technology has impacted every industry. Processes that once involved a lot of physical interactions, such as online car buying, now happen entirely online. One recent study revealed that up to 92% of car buyers now research cars online before making up their minds. And they do this whether they are buying a new or a used car.

Some people may argue that buying or selling a second-hand car online is risky, but technology has added a layer of security to both processes. Here are some ways the internet has completely changed the used car market.

Consumers Have More Knowledge and Power

Access to information has never been easier. Before the internet, car buyers would have to make in-person visits to used car dealerships or private sellers to find out car details. Others depended on local newspaper classifieds which offered very little information about the actual status of the cars.

In the digital age, things are very different. There are many car review websites that offer detailed reviews and hands-on tutorials for spotting and fixing potential car problems. Online car forums also allow car owners to share their experiences with different car models.

A simple google search yields a lot of information on anything you need to know about a car. Car buyers now make better decisions based on practical knowledge from reliable sources. They don’t have to worry about being misled by the salespeople.

Less Psychological Stress

Haggling over car prices can be stressful. One study shows that car buyers spend an average of 187 minutes in a dealership before buying a car. The internet has changed that. Car buyers can now purchase cars from the comfort of their homes and avoid dealing with salespeople.

They can visit virtual car showrooms and make purchases without being coerced by sales agents. Virtual showrooms offer a 360-degree view of cars’ interiors and exteriors, allowing buyers to make an informed decision. About 56% of auto shoppers say they would be convinced to buy a vehicle from a 360-degree video even without test-driving it. And the best part is you can decide not to get the car if you don’t like the dealership’s services.

Enhanced Security

Buying a used car was once a risky undertaking. Back then, getting a good deal was only possible for car experts who knew what to look for in a used car. However, inspecting a used car before buying goes beyond spotting the obvious defects. The value of a used car can also determine wear and tear on parts such as the engine, brakes, and tires. The internet and technology have made it possible for car buyers to gauge the value of a used car.

There are many expert and user reviews that guide buyers on what to pay attention to. It’s now more difficult to mislead buyers with fake reviews. Also, buyers are able to pay via credit card and protect themselves against unscrupulous dealers.

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