In the previous 24 months, the rise of the online used car dealer has blossomed, cars can now be bought online, and once finance and payment is arranged, they can be delivered to your home. It is a system that has become simplified and widely used.
Many argue that the physical dealership is still an essential part of buying a car and that the feel, touch, and drive are important, and indeed they are. However, do we still need to test drive it if we have a seven-day returns policy and deliver it to our front door.
The Online Car Market
Otherwise known as the ‘dealer disruptors’, the online used car market has grown in leaps and bounds, and the last 24 months have seen this growth peak. It is a market that is twice as big as the new car market in the US. Used vehicles are becoming increasingly younger based on the increase in off-lease vehicles and newer certified pre-owned vehicles.
What These Disruptors Offer and Why Physical Dealers No Longer Have a USP
The online used car dealer can offer the following:
• Detailed photos and a walk-through video in high definition are the norms. Many websites offer 360-degree views of the cars, and the quality of photographs allows for zoom options. With the global increase in smartphone usage, buyers have more options of how and where they can access online information about potential cars.
• Social media, blogs, and instant messaging to advertise and share products have grown and can be seen in examples like We Buy Exotics. It is a modern, relevant way to share and increase a physical dealer’s range over a hundred-fold.
• VR, get in, and have a seat is offered by the few high-end used car dealer out there that are using tech to the max. This is allowing for quicker decisions when it comes to buying cars, and research shows this down 22 days per buyer since 2017.
• Detailed search tools, the integration, and the amalgamation of used car dealers on online networks mean that you can now buy a car from pretty much anywhere in the country. The search options are wide and varied and will allow access to millions of vehicles at one time in one place.
• Suitable delivery options. The immediacy of online shopping necessitates speedy delivery, and the used car market has one of the best logistics and delivery systems in the country, with most offerings such as Carvana, Fair, and Vroom being able to provide next day or same week delivery, dependent on where you are based in relation to the physical vehicle.
These offerings have been proven to be exactly what the buyer is looking for, and the ease at which a purchase can be completed only adds to buyer demand.
The dealer disruptors that have taken the online car market by storm look set to continue, and as with anything tech, this revolution will not be slowing down any time soon.
Featured image: Unsplash (Erik Mclean).