If you are buying or selling a car you may well have come across a car broker and wondered How do car brokers make money?
What Is A Car Broker?
A car broker is a professional who assists customers to buy a car by acting as a middleperson – a broker – between a buyer and a car dealer or private seller. A broker is a person who can get you a great price thanks to their experience in negotiation, as well as save you time and money in the process of searching for a car. In this blog we are going to answer the question of ‘how do auto brokers get paid’ so that we can offer more transparent services.
Need help finding a car? The friendly car brokers at eCarz offers a time-saving solution for people looking for a great price on a used vehicle without the hassle of visiting car yars and trawling through used car adverts.
How do car brokers get paid?
Car brokers are professionals who provide a valuable service to people looking for a new or used vehicle. A car broker can help whether you know what type of car you want, or if you aren’t sure, by going through your options in line with your budget, and then working out what is realistic for you. When it comes to knowing just how do auto brokers make their money, the answer is simple:
- Some car brokers charge a ‘finders fee’ for the service of locating a vehicle, but in many cases – if not most – a car broker will save you this fee and more on the purchase price thanks to their network of dealers and vendors.
- Other brokers chare a referral fee from the dealer for arranging the sale, which may run from $250 to $1,000, depending on the car.
Even if you do not pay the fee directly to the broker, the charge will be included in the sale price so ensure you ask directly about what sorts of fees are included.
What other services do car brokers provide?
Car brokers can provide a range of other complementary services including organising test drives, coordinating a warranty on a car, working out insurance, and negotiating on your behalf. This is all part of the car buying service that a broker may offer as a means to add value to their standard services. Speak to our friendly car brokers today about the extra services we provide to every valued customer.
What are the benefits of working with a car broker?
Ultimately, working with a car broker means that you will have access to the networking of car dealers and vendors that you simply wouldn’t have access to as a private buyer. You may secure a fantastic deal on a vehicle that never goes to market because your broker knows the dealer who has the car in their yard.
- Car brokers are very experienced in dealing with new and used cars and can spot defects, problems, and issues before you even have to look at the vehicle.
- A good broker acts as a filter to your car buying experience and ensures you only consider high quality vehicles.
We hope this has helped to answer the question of how do car brokers get paid. If there are any other questions, such as ‘how do car leasing brokers make money’, or ‘can my broker sell my car for me’ please call us to speak to one of our friendly team. We can answer any of your questions and are only too happy to chat.