iMotors

Why Use a Car Broker Over a Dealership?

Jun 20, 2023

Why Use a Car Broker Over a Dealership?

Buying a car can be a daunting task, especially if you're not familiar with the process. You have to do your research, compare prices, and negotiate with the dealer. It's no wonder that many people choose to use a car broker to help them through the process.

A car broker is a professional who can help you find the right car at the best price. They have access to a wide network of dealerships and can negotiate on your behalf. They can also help you with the paperwork and make sure that you're getting a fair deal.

Here are some of the benefits of using a car broker:

Save time: Car brokers can save you a lot of time by doing all the legwork for you. They'll find the cars that meet your criteria and negotiate the best price.
Save money: Car brokers have access to special pricing that dealerships don't offer to the general public. They can also negotiate on your behalf to get you a better deal.
Reduce stress: Buying a car can be stressful, but a car broker can take the hassle out of the process. They'll handle all the paperwork and make sure that everything goes smoothly.
Get the best deal: Car brokers are experts in the car buying process. They know what to look for and how to negotiate. They can help you get the best deal on the car you want.

If you're thinking about buying a car, I highly recommend using a car broker. They can save you time, money, and stress.

Here are some additional reasons why you might want to use a car broker:

You're not sure what kind of car you want. A car broker can help you narrow down your options and find the perfect car for your needs.
You have bad credit. A car broker can help you find a car that you can afford, even if you have bad credit.
You're not a good negotiator. A car broker can negotiate on your behalf and get you the best possible deal.
You want to buy a car out-of-state. A car broker can help you find a car in another state and have it shipped to you.

If you're considering using a car broker, there are a few things you should keep in mind:

Do your research: Make sure you choose a reputable car broker who has experience in the industry.
Get everything in writing: Before you sign anything, make sure you understand all the terms of the deal.
Be prepared to pay a fee: Car brokers typically charge a fee for their services. However, this fee is usually worth it, considering the savings you'll get on the car.

If you're looking for a stress-free and hassle-free car buying experience, I highly recommend using a car broker. They can help you find the perfect car at the best price.

How imotors is able to offer such low lease rates ?

1. Negotiating power: imotors have negotiated favorable terms with the car manufacturers or financing companies that allow them to offer low lease rates.
2. Volume discounts: By leasing a large number of vehicles, imotors is able to secure volume discounts that translate into lower lease rates for their customers.
3. Low overhead costs: imotors has lower overhead costs than traditional brick-and-mortar dealerships, such as lower rent, utilities, and staffing costs, which could allow them to pass those savings on to customers.
4. Marketing promotions: imotors runs marketing promotions that temporarily lower their lease rates in order to attract customers and boost sales.

How do I end my lease early?

As you probably already know, lease contracts are not designed to be easily or inexpensively terminated before the normal end date. However, you do have a number of options available to you that could minimize your costs and headaches. Unfortunately, an adequate discussion of these options would be too lengthy to present here. A full discussion of all your lease termination options, including how to choose the right option for you, is contained in our article, Exit Your Lease Early.

Can I use my current car as trade-in on new lease ?

It depends. If your current car is paid for, you can certainly use it as a trade-in. Just be sure you know its fair trade-in value, and that the dealer gives you full credit when your lease payments are calculated. If you still owe on your car, you will want to get the “payoff” from your finance company and compare that amount to the trade-in value of the car. If the trade-in value is higher, you have “trade equity.” If not, you’re “upside down” and you may want to reconsider. You know, too, that you would do better financially if you sold your car yourself.

How does sales tax apply for a car lease?

Sales tax laws can be quite different between states and localities. Most states simply apply the local sales tax rate to each monthly lease payment. A few states want all sales tax paid up front, based on the value of the vehicle or the sum of all monthly payments.

Do I pay interest on a car lease ?

Yes, but it’s a little different than for a loan. You always pay a finance fee, called money factor, on a car lease just as you pay a finance fee, called interest, on a car loan. Money factor is expressed as a very small number such as .00175 but can be converted to APR interest rate by multiplying by 2400. For example, a lease money factor of .00175 is equivalent to 4.2% APR interest rate. You pay finance fees on a car lease because leasing is a form of financing and the finance company wants to be paid for the use of their money. Leasing is not renting. The lease finance company uses their money to buy a vehicle from a dealer and leases it to you. By leasing, you essentially borrow the finance company’s money that was used to buy the car.