Tuesday, August 28, 2012

Would you buy a car on the internet?

Recently the biggest auction site in the world started a novel experiment to sell cars on the internet with the twist that every time somebody bid on it the price will go down 500 dollars till the auction ends. It is an interesting concept, but still I will be hesitant to buy a car on the internet (like I know many people will be too). It is the second biggest investment for most of the people after housing and like housing with an on spot checking and inspection, people tend to test drive the car and have a feel of it before buying it. Not only that, it is not an individual decision in case of family buying a car (for a single person it is an individual case), plus you have to an appropriate down payment to buy the car in most cases. Then there is the case of preferences of what car make and model to buy, what interest rate you can get (depending on your credit score), how much you can afford, what color and what type to buy. The biggest decision will be to test drive the car to see if you are comfortable in it. Also it is much easier to haggle the price face to face then to buy on the internet. It is just makes me uncomfortable to invest a huge amount of money in something which I have only seen pictures on the internet. I know there are people who do buy cars on the internet and seems to be happy with it but for me I still want to go to the dealer and see the car in person.

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