Many things have changed since we started dealing with Covid in 2020 – including how we buy cars. For this piece, we talked to Patsy Butterfield, one of five female car brokers with HM Brown, about what we should know if we’re in the market for a car.
The car market has been especially unstable, with supply issues along with parts/chips being scarce. Because of the lack of new car inventory, demand in the used car market has greatly increased.
Be prepared to spend more. We’ve all become quite comfortable with really low interest rates. I can remember when 15.9% on a car loan was common. We have enjoyed low rates for several years now and there is a huge correction in rates right now.
Don’t be intimidated. Do your research and go into the dealership with a clear plan. Or better yet, use a broker.
So many benefits, but I will touch on a few. Instead of only being able to represent only one manufacturer, brokers can sell any make, any model, new or used. That alone makes them much more objective. Brokers are not trying to sell you only a Toyota. We can speak factually about the differences between the models and yet, point out shortcomings as well. You will never get that impartiality from a dealer.
Also, many dealers have limited options for financing/leasing. Because of the huge buying power that many brokers have, we can offer a far larger menu of finance/lease options. Dealers often have reasons to offer “special dealer financing” but be assured, they are making up that money somewhere. If you are working with a broker, we can break down exactly what that 1.9% or 0% financing really means. And best of all, we can tap into any special interest rate, rebate, or monthly incentives they may have available.
As a consumer buying a car, I negotiated all day with the dealer to a fair price, and yet walking out of the finance office and getting my car, I always seemed to ask in my head, “Did I really get a good deal?”
I never want you to feel that way.
Buying a car shouldn’t be a stressful process, it should be fun! I make an effort to take away the stress involved, and replace it with information, options, and transparency.
Patsy Butterfield is an Auto Broker with HM Brown & Associates, where she works with clients to help with the car buying process from start to finish, including finding cars, bidding on trades, and financing, as well as any extra aftermarket wish lists.
Patsy came from an Ad Agency & Post Production industry before deciding to make a big career change to the car world. She works with all manufacturers, banks and credit unions and cultivates those relationships to bring the best client experience possible. You can expect 100% transparency, no horror stories, and nasty surprises when working with Patsy.