Online Vehicle Purchasing: Pros and Cons

Vehicle purchasing was once a major event with a specific sales pattern. A customer visits dealership, test drive a few vehicles and repeat until they found a dealership and vehicle they preferred. Today, that’s been traded in for the simplicity of online vehicle browsing and purchasing.

It’s the latest way to purchase a vehicle, with both independent companies and dealerships alike are embracing it. At the same time, there are drawbacks to moving this process online, and it’s important to consider the pros and cons of online vehicle purchasing.

Why Has Online Vehicle Purchasing Taken Off?

Almost everyone does some online research when purchasing a vehicle. This makes sense when considering the magnitude of the purchase at stake. The average age of U.S. cars and light trucks this year rose to a record 12.6 years, according to the report by S&P Global Mobility.

It’s important to carefully consider options purchasing a vehicle that lasts longer than a decade. If consumers are doing online research to learn more about their options, it makes sense for retailers to expand that to include purchasing vehicles for them.

Pros of Vehicle Purchasing Online

The concept of purchasing a vehicle online is still a relatively new idea to most. Consumer Affairs notes the following statistics:

• Less than 3% of respondents have purchased a car online
• A further 23% would order a vehicle online while still having some in-person contact at the dealership
• 29% are interested in an entirely online car buying experience

This indicates that interest in online vehicle purchasing is growing. There are good reasons for this, including:

  • Better Selection -The inventory of vehicles that you can purchase online is nearly limitless. This is better than simply having to select from what happens to be available on the lot at any given point in time, or having to drive to multiple dealerships to see what might be available.
  • No Haggling -Many people are uncomfortable with the process of haggling on the price that they will pay for their new vehicle, and dread having to spend hours dealing with finance. Fortunately, with online vehicle shopping, haggling is not something that has to be done.
  • Easy Comparisons -It is simple to compare different types of vehicles against one another online with ease. Consumers can simply enter the criteria that they want to find with the vehicles that they are looking at and see how various vehicles within the inventory stack up against one another.

These are just a few of the things that people love about online vehicle shopping, but there are some downsides to take into consideration as well.

Cons of Online Vehicle Purchasing

Before consumers click on the Internet to find their next vehicle, they may stop and think about the downsides. It’s very different from buying an item and having it delivered from a subscription, and much more complicated.

  • An Unseen Purchase – Consumers must be comfortable buying a high price item completely unseen. They can’t view the physical condition of the vehicle that they are shopping for online to note issues or defects. This may not be an issue with a brand-new car, but it could be a large issue with a used vehicle.
  • Limits on Financing Options – A significant issue with online vehicle purchasing is that finance options are limited. Without talking to an F&I manager, consumers might get discouraged by limits on finance options.
  • No Returns – If you’re brave enough to purchase a vehicle online, take time reading the fine print. Many sellers offer limited warranties and no return policy. If something goes wrong with a vehicle after it’s been delivered, consumers may be out of luck.

Consumers should keep these drawbacks in mind as they weigh their options while deciding if their next vehicle purchase is online or in person.

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