Your teen’s first car: Brand new or used?

When your kids turn sixteen, they might ask you for a car for their birthday or high school graduation. You might even consider buying them a car to teach them how to be more responsible or probably because they earned it due to their good grades at school. But when you want to give them a car, you have to ask whether or not you need to buy brand new or used. 

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A new car is significant because it shows your kid that you’re not settling for anything less than what they deserve. It’s something they will talk about with their friends. It’s also a good investment as a new car will eventually sell better than a used car when it’s time to dispose of the vehicle. 

A used car on the other hand is much more affordable. Not all used cars are banged up. You can find one for a great deal, even one with very little mileage. One way to look for such gems are car dealerships and bank auctions. Cars found at bank auctions are repossessed after the previous owners couldn’t make payments. 

Another option is a slight combination of the two. In a car dealership, you can ask if they are selling the test unit. It’s the unit dealers use for test runs with clients. These units don’t have that much mileage and are almost brand new. In fact, they are sold as brand new but are generally cheaper. 

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Jeff Lupient is proficient in many skills such as new business development, automotive dealership, and sales. His competencies would later lead to his becoming the president and CEO of Minnesota-based firm Lupient Automotive Group in 2012. For more reads on the car purchasing, visit this blog.

Customer Experience Management In Automotive Retail

With the dawn of the internet age, there has been a shift in consumer mindset in the automotive industry. Instead of the shopping experience beginning with a visit to a dealership, it can start with a visit to a website or online channel.

Image source: reviewtrackers.com

Additionally, in the past, it was the cars that had driven the sector, with the type, model, and brand dictating customer preference. As brand and growth expert Felix Stöckle put it, “the three most important things as far as cars were concerned were: first, the product; second, the product; and third, the product.” But now, customer experience significantly matters in the industry. A customer’s purchasing decision does not rely on the product alone.

With these trends in the market, automotive retail companies and professionals should adapt well, and there are various ways to do so, such as the following:

• Create a customer database: The best way to understand what customers want is to develop a database that lists their information, as well as their needs and desires.

• Manage online reputation: A poll by AutoTrader.com determined that around 75 percent of the time car buyers spend in shopping is devoted to researching online, including checking reviews, feedbacks, and recommendations.

• Make use of data and analytics: A massive amount of insights can be produced from the available market and consumer data online. Learning what clicks with customers can bring in more revenues and strengthen relationships.

Image source: thetimesweekly.com

Jeff Lupient is the CEO and president of the MN-based Lupient Automotive Group. Aside from having physical showrooms, the company also maintains online channels to connect with consumers. Visit this page to read more articles about the car industry.