Answer to Question #211568 in Marketing for Nachiket Pawar

Question

1. You want to buy a car for your personal usage. As a potential customer, explain the

stages that you will follow in the process of buying a car. (10 Marks)

Answer 1

1.Research.

This refers to the process of collecting information about different cars in order to come up with a final decision on the type of the car to be bought.

2.Financing.

It entails sourcing for money to buy the car chosen. The money may be borrowed or may be taken from the savings of the buyer.

 

3.Buying vs Leasing.

Here, the buyer decides whether to lease or buy the car depending on the finance accumulated. The buyer chooses either to buy a new or used car depending on the efficiency of the car to be purchased.

4.Negotiate.

Once the buyer has found the vehicle that he or she is comfortable with, price negotiation starts immediately.

5.Take Precautions.

The buyer should be cautious about the condition of the vehicle to avoid purchasing the undesired one.

6.Payment Amount

Here, the buyer determines the final amount to be paid to the seller.

7.Consider Your Other Costs.

The buyer should put into consideration other costs that come along with the purchase of the car. They may include insurance, fuel and maintenance costs.