Want the latest Car Deals before everyone else?
Enter your email to get early access to deals
(it's free)
November 9, 2021
Autotrader claims they are the ultimate online solution for buying and selling cars.
Do they really give you greater control during the car buying process? Some customers would absolutely agree, but others are left unsatisfied.
Here’s my honest review of Autotrader, where I dive into how the platform works and if they deliver on their claim.
Table of Contents
Autotrader is an online platform for buying and selling used, new, and certified vehicles. The company was started in 1997 and is based in Atlanta, Georgia.
Their platform contains a wide variety of vehicles from both private sellers and local dealers. It also provides helpful tools for customers to research vehicles and insurance.
Many people have successfully bought and sold cars from Autotrader. However, others have described negative experiences.
Overall, Autotrader is a trustworthy site. Still, you must do your due diligence to thoroughly research vehicles and understand liabilities before purchasing or selling your vehicle through their platform.
Autotrader seeks to improve the car market by providing tools for retailers, manufacturers, and consumers.
Their platform was designed to improve the car buying experience while also improving the entire vehicle value chain. They make it easier for consumers to buy vehicles and for those selling cars to advertise them.
Buying a vehicle through Autotrader is fairly simple. Here are the basic steps:
Private sellers and dealers can sell vehicles through Autotrader. There are two ways to do this:
Option 1: The first option is with a Kelley Blue Book instant offer. For this choice, you simply head to the website and click “get my offer.” You will enter the vehicle details and receive an instant offer. The offer is valid for seven days. If you accept, then Autotrader collects the vehicle from your home.
Option 2: The other option is to post an advert to Autotrader to advertise your vehicle to millions of users. To do this, you follow the prompts on their site to create an advert. This includes entering vehicle details, including quality photos, setting your price, and more. Buyers can then view your advert and make offers.
To sell your vehicle, you will need the bill of sale, odometer mileage disclosure, vehicle title, service book and receipts, and as-is documentation.
Yes, you can also trade in your vehicle through Autotrader. To determine the value of your trade-in, Autotrader leverages Kelley Blue Book data from dealer websites, adverts, car auctions, and more. They assess the current market with their free car valuation tool.
To trade in the vehicle, you must enter the vehicle details. Then, you’ll receive the instant cash offer good for seven days. Select a participating dealer, then complete the trade-in. The offer is the same whether you choose to trade in the vehicle or sell it outright.
Autotrader operates as a “credit broker.” This means that they do not provide financing.
However, they make it easier for you to apply for financing with the retailer. The platform includes a calculator to help you estimate monthly payments for vehicles you are browsing.
While Autotrader has helpful tools and information for financing, they do not provide it.
If you opt for an instant offer to sell your vehicle on Autotrader, then you cannot negotiate. They provide haggle-free offers, which means you can take it or leave it, but no negotiation.
However, if you buy or sell on the platform via adverts, then you can negotiate. Most often, you can submit an offer as a buyer, which means the seller can accept or negotiate it.
No, since Autotrader does not provide the financing you cannot refinance your loan through them. They have some helpful information on refinancing a loan, but they will not be able to help you do so. Instead, you must contact lenders to refinance the loan.
What about Autotrader fees? Here’s what you need to know.
As one of the largest auto marketplace, Autotrader makes money in a myriad of ways. They make the majority of their money (84%) from trade customers or professional retailers.
Autotrader charges them a stock advertising fee for each vehicle, with a discount for a large number of listings. They also sell value-added services that these sellers can use to engage more buyers. Private sellers who advertise their vehicles on Autotrader must also pay a fee.
Currently, it costs $49 per listing. With each listing, you can also enjoy free ad renewals.
In addition to advertising fees, they also make money from service providers that pay them a flat rate for exposure, like GEICO and Capital One.
Autotrader picks up the vehicle if you sell it to them with an instant offer. Otherwise, it is up to the buyer and seller to arrange vehicle pickup/delivery.
Autotrader does not guarantee free returns or exchanges. They put the responsibility on the buyer to understand the Consumer Rights Act. They also provide tips for safely buying and selling a vehicle. Still, they do not offer a return policy.
No, Autotrader does not provide any warranties or protection plans. You must shop elsewhere for protection plans.
However, if you purchase from a dealer on Autotrader, their dealership may offer warranties or protection plans for free and/or for an added fee.
Overall, Autotrader has okay customer reviews. On Trustpilot, they have a startling 1.8 out of 5 stars out of only 183 reviews. Interestingly, the rating is significantly higher on Consumer Affairs, with 4.0 stars, and on Site Jabber with 3.5 stars
Here are some key takeaways from positive reviews:
However, not all customers had a good experience. Here are some common complaints:
Autotrader is certainly a helpful resource for buying, selling, or trading vehicles online. Here are some of the top Autotrader alternatives to consider:
Some parts of Autotrader are free, like many of their research tools. If you post an advert to sell your vehicle, you must pay.
Autotrader is a legitimate business and trusted website. However, they do not own the inventory in the adverts. Therefore, you must approach car selling and buying with caution even on their platform. Additionally, they have quite a few negative reviews citing “scammers” on the site.
If you are looking to buy, sell, or trade-in a vehicle, then Autotrader is a solid option. It’s free for buyers, so it’s definitely worth using during the car shopping process. For sellers, it’s not super expensive and is often worth it. You can also opt for an instant offer and avoid the advert fee, but you may be able to get more for your vehicle when selling directly to consumers.
No, as of right now Autotrader does not lease cars.
Autotrader is available throughout the U.S. and has 3 million vehicle listings from 40,000 dealers and 250,000 private owners. As of 2018, they also operate in Australia.
It’s unclear if Autotrader checks credit scores. They do not provide financing directly. Instead, you can get financing through their finance partners. The finance partners will check your credit score.
Get the latest Car Deals as soon as they come out.
Enter your email to be notified when deals are published (usually once a month)
Posted in Car Buying Tips |
Want the latest Car Deals before everyone else?
Enter your email to get early access to deals
(it's free)