Automobile Repurchase Agreements Ease Buyer’s Remorse

2/13/2006
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Tags: Auto , Financial Performance

Almost everyone’s had it – the feeling like a 10-pound bowling ball is resting in your stomach. Did you make the right choice? The automobile that was so shiny and perfect on the lot is now sitting in the garage and you’re wondering if it’s the right color, if it has the right features, and perhaps most importantly, if it’s within your budget.

Buyer’s remorse is a natural human reaction to big purchases, and one that can haunt a credit union member every time they turn the ignition key. So what can be done to prevent this afterthought apprehension?

Buying from a seller with a repurchase agreement is one way to hold buyer’s remorse at bay. C hecking out a seller’s policy on returns or exchanges should be a strongly encouraged step for members who are in the buying process. In today’s age, most companies do focus on customer satisfaction, in part to grow goodwill with the customer and ensure future sales, but there are dealers who see a sale as a sale. It’s better for a member to know their options before they sign on the dotted line. And no matter how sure they are that it’s the right vehicle for them, the repurchase option provides extra peace of mind.

The best way to prevent buyer’s remorse, however, is to pick the right vehicle. Before purchasing an automobile, members need to consider how much they’re willing to spend – remembering to allow extra cash to cover tax, title and tags. Next, they need to think about what they want and expect from the vehicle: economical gas mileage, storage space for luggage, room for three kids, etc. Then add to the list the extras they prefer their vehicle to have: heated seats, four-wheel drive, body styling, etc. This type of thinking helps narrow the vehicle choices and allows members to decide on a few specific makes and models.

With pre-selected cars in mind, the buying process can begin. Before members hit the lot, though, they should use the Kelley Blue Book or NADA Official Used Car Guide to get a feel for the price a dealer might be asking for the desired model. This will let them know if the vehicle they’re purchasing is a good deal. To verify the car is actually everything the window sticker describes, a good plan would involve running a CARFAX report to obtain the vehicle’s history, including number of owners, the condition of the title, and any odometer discrepancies.

Car buyers have no need for heartburn during the process nor heartache after the vehicle is in the garage. Enterprise Car Sales makes the process easy and painless, giving buyers up to seven days or 1,000 miles to change their mind about a purchase. Enterprise will repurchase the vehicle – no questions asked – for the exact amount paid, minus a small cleaning and documentation fee. Advanced planning and working with a seller that has a repurchase agreement is the trick to members having a worry-free experience.

To learn how Enterprise can help your credit union provide exceptional value and service to your members, please visit : http://perfectpartnership.enterprise.com/