9 Things You Must Consider Before You Buy or Lease a Car Online

The option to buy or lease a car online has arrived, but consider these points before you sign on the virtual dotted line.

Know exactly what you’re buying

Zoriy Birenboym, founder of e-AutoLease, says one of the most common mistakes made by online car shoppers is to quickly accept a low price. Yes, everyone wants a bargain, but buyers are sometimes surprised to learn what the dollar didn’t buy them, especially when leasing. “Sometimes you pay a bit more but you get much more,” he said. “We offer 24/7 concierge service to our customers. Yes, they pay a few dollars more but they receive much more customer service” than they would from other dealerships.” These are important red flags to look for in a vehicle history report.

Do not make a deal without a written agreement

Birenboym says car buyers and leasers often forget to have details put into writing. Not only will it save you costly misunderstandings, but it can put you in a better position to bargain with other dealerships. “Remember: Your word and the word of another dealership is nothing but a phonetic disturbance to the ears of a competing seller. A disclosure makes an offer official,” he says. “When you send a disclosure from one dealership to a competitor, they have the means to understand where that price came from. Even if the numbers you are getting is already at their cost, they can use an official disclosure to get more money from corporate to get you as a customer.” Find out the trick to getting a better deal on your trade-in.

Dispel the notion that online car buying or leasing is just for the rich

Yes, those that make high six figures and above often buy and lease cars online but so do college students, retirees, and buyers from every other socio-economic group. “Our service is for everybody,” said Birenboym. “It’s for people who have families and people who are just starting their careers. We have a giant customer base of college students who we helped get approved for auto loans. Our service [and similar services] are for everyone.”