Exploring the Importance of a Large Inventory in Your Used Car Purchase
Posted Friday, Jun 30, 2023
Every car salesman likes to boast a large inventory, but the truth is not everyone will have what you're looking for. A dealership with a large inventory can be hugely beneficial when purchasing a used car. Here's a list of reasons why you should watch out for a dealership with a large inventory:
Variety
A true large inventory doesn't only have many cars of the same make or model. It has many cars of various makes, models, years, and features. Having a large variety to tap into when looking for a used car to buy is great.
You may be interested in a car that's small, large, electric, luxurious, still in warranty, or seats seven people. A greater variety of cars in inventory means there's a greater chance of finding a car that's your perfect fit.
You can also compare many similar cars or look at options you haven't previously considered. All in all, more variety means finding a better match.
Comparison
A large inventory means you can compare the prices of different makes and models as you browse the different vehicles. You'll have a better idea of the relative prices of vehicles within the dealership. You'll comprehend how different makes, models, years, and features are valued and how age, mileage, and condition also affect the prices of cars.
Armed with this information, you can negotiate better when deciding the final price of the car you purchase next. If going to the dealership feels awkward, you can just as easily browse inventories online.
Condition
A large inventory also means that you could find the same car in different conditions. The chances are higher of finding a used car that may still be under warranty and have low mileage, healthy engine performance, and properly maintained service records.
Some say buying a used car is a bad idea because you'll end up with a fixer-upper. That's not necessarily the case. You can find cars in really good condition as well as average or mediocre condition. Cars in good condition cost more, but it's money well spent. If you're in the market for a bargain, though, you can negotiate a low price on a car that needs more attention.
Rarity
A large inventory isn't built overnight. It's likely the dealership has been around for years or has ties to many sellers. When you have access to such an inventory, the chances of finding a rare car or a car no longer in production grow significantly.
If you're a collector looking for hidden gems, you're more likely than not to find something that interests you at a dealership with a larger inventory than a smaller one.
Even if you're not on the hunt for a rare find, a large inventory means quicker access to vehicles in high demand, saving time and effort looking for a specific car. They will most likely already have what you're looking for and wouldn't make you wait to arrange it.
Negotiation
Having more access to a greater inventory means you can negotiate a better price for the car you're interested in. Since it's possible for several sellers with the same type of car to offer different prices, you get to compare the different prices and choose the one that suits your wallet the most. This forces sellers to set competitive prices.
Not only that, but it gives you more power when negotiating your final price. With more sway in negotiations, you're more likely to drive home with a much better deal.
In contrast with a smaller inventory, they may have only one model of the car you desire. With only one car available, they may set any price they want. And while negotiating, they are in a stronger position. To avoid that, it's best not to waste your time with a dealership having a small inventory.
Convenience
By now, we have realized that a large inventory streamlines the entire process of finding the perfect used car to buy. First of all, there is a greater chance of finding the make, model, or year you are interested in. In fact, you'll find several variants of it in different conditions. It will also allow you to consider other options you didn't think about before. You can compare several kinds of cars in one place. Since many sellers may be selling the same car, they are more likely to set competitive prices, making it easier for you to find a better deal.
You won't have to wait weeks or months for your desired car to be arranged. They will probably already have it. Instead of having to go from one dealership to another, you have everything you need at a single dealership.
Better Financing
it's no secret that a dealership with a large inventory means selling a lot of cars. Therefore, they would offer a range of auto-financing solutions to cater to a wide array of customers with varying budgets and credit scores. To ensure they can accommodate their customers, they would have formed relationships with several lenders, making sure they have the best rates in town.
You're more likely to secure financing even if you have a poor credit score if you shop from a dealer with a large inventory and, subsequently, better financing. Dealerships with smaller inventory won't go through all that trouble. They would rely on the skills of their sales representatives to push the cars out of the door without impressive financing deals.
Conclusion
To sum it all up, buyers will benefit greatly from dealerships with large inventories. You're more likely to find the car you want after considering several options. Also, those cars will be available at competitive rates, and it will be easier to secure financing. If you don't want to miss out on these benefits, then don't waste your time at dealerships with relatively smaller inventories. The Internet Car Lot has an impressive online inventory of over three thousand vehicles, with a strong network of sellers and comprehensive financing options.
