More and more consumers are realizing the potential savings of buying a used car
(PRWEB) May 24, 2010
Savvy Consumers Realizing That Now Is The Right Time To Go Used
Incentives are through the roof with some automakers and Americans could be forgiven for thinking that now is the right time to buy. Look a little deeper and it's becoming clear that hidden costs could sink car buyers, and why choosing a trusted used car marketplace like LemonFree.com is critical for today's savvy consumer.
While automotive dealerships offer discounts, most buyers can't pay cash. Today, financing a new car loan is expensive enough that it makes it more costly to buy one than it has been in more than two years, according to Comerica Bank data.
"Because of that, more and more consumers are realizing the potential savings of buying a used car," says Daniel Legal, co-founder of LemonFree.com.
Legal and LemonFree co-founder Lance Schafer recognized the value of providing a website where consumers could get as much unbiased information as possible without worrying about advertiser influence. They offer nearly two million listings throughout the U.S. and Canada alongside their reviews, and buyers can even compare the average pricing of similar cars within a 200-mile radius to gauge the market.
Consumers have already written their gratitude at being able to find an affordable used car without worrying about problematic poor quality pre-owned vehicles. One recently commented, "I was feeling hopeless looking for a Nissan Maxima at a decent price. When I came to LemonFree.com, I found my car and now I'm on my way to get it!"
Compare that to the new car buying experience for many. Money is tight for a lot of families, and it can take a near perfect credit rating that a lot of Americans simply don't have. Experts say it may take years for the situation to improve.
Take General Motors as one example. The company had to sell its in-house, or captive, financing wing in the wake of the financial meltdown and buyers now need to find private lending from banks who have no incentive to make a deal.
There has been talk that GM would be re-creating a financing arm that would make loans in-house. Normally they would be pre-disposed to making good terms available, even to the 1 in 6 Americans who is considered "sub-prime" or a credit risk.
But automotive manufacturers are trying to stay afloat and that means only the best qualified buyers are given loans. It leaves only one avenue available to many Americans, a fact the LemonFree.com staff understand well. In fact, their used car horror stories led to the site's creation.
Legal spent more than $100 in a fruitless attempt to sell his 2000 Volkswagen Golf. Print classifieds didn't reach the same audience that online marketplaces do. One of the leaders at the time was a generalized site, but he says that trying to search for cars was difficult at best and not targeted to buyers' needs.
There was the opening, and along with Schafer, Legal had seen the success of game changers in other sectors. As Schafer says, "We had a vision for creating a fast automotive site that focused on the consumer and all of the cars available."
They did, and they focused on creating a site where advertising wouldn't play a role in their growth. Instead, LemonFree.com invites buyers and sellers to peruse thousands of cars in their area for free, and even more in each region of the U.S. and Canada.
Buyers know that since dealers and private sellers don't have to pay a fee, they can use their advertising dollars on ensuring that a quality car is listed on the site, and they reward vendors who take care of their customers.
Sellers have enjoyed the site, too, knowing that they can reach millions of prospective owners with the click of a button and without paying a dime.
"The used car market is only going to get bigger in the next six to 12 months," concludes Legal. "Saying that, there will also be many more people trying to sell bad cars and we are working every day to help better educate car buyers through our site so they can spot a lemon from a mile away."
LemonFree.com is the premier used car marketplace for buyers looking to find quality, affordable pre-owned vehicles. The site's model encourages sellers and dealers to use their reputation for excellent used car service and pricing rather than advertising dollars. With 4.5 million views monthly of almost 2 million vehicles, LemonFree.com is the one stop shop for used car buyers and sellers who want a transparent buying process.
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