Cars and Bids, you've probably heard of them. It's a website created by YouTube video curator Doug Demuro. Doug has built up a library of vehicle reviews for all kinds of cars from BMW to Mercedes-Benz, Mini Cooper to Subaru, and Audi to Volvo to name a few
. Along the way, Doug decided to start https://carsandbids.com/ in 2020. According to Doug DeMuro, “Basically everything that’s exciting, fun, interesting, or quirky is welcome here – as long as it comes from the modern era.” The goal is for anyone interested in this area of the market to come to Cars & Bids first to buy (and sell).
Well, for the average car buyer, Cars and Bids is simply not the best way to buy. IQautos is going to present to you why you should be weary of purchasing a vehicle from a new website like this.
1) To start, say IQautos listed a 2017 BMW X5 xDrive35i on Cars and Bids for $30,000. Assume 10-20 people bid on the vehicle and it goes up in price to a final successful auction bid of $35,500. Well, that is not the price you are paying. Cars and Bids will then proceed to automatically charge your credit card a 4.5% final bid fee ($1,597.50!) To put this into perspective, most states in the US have sales tax to register the vehicle that is in the 3-7% range. Cars and Bids is charging you more to buy the car on their website than some states even charge for sales tax. (Here is what residents of most states pay in sales tax AL 3-4%, GA 6.6%, SC 5% with $500 max, NC 3%, FL 6%, TN 7%, VA 5-6%, you get the point.
2) On websites like Cars and Bids, you are completely relying on the seller, who you have no idea about, to accurately disclose information on the vehicle they are presenting. These sellers do not have a business to stand behind their products and once the bidding is completed the sale is final. You basically have to perform any inspections and all due diligence beforehand. At IQautos, we are a local dealership in Metro Atlanta that's been in business for 22 years with a 5-Star Google Rating & are #1 on Yelp in our relative area. We will literally bring our vehicle to your mechanic to have inspected if you desire. We also allow all our clients a 3-Day Money Back Guarantee to make sure they're comfortable with their purchase.
3) Cars and Bids does not help you facilitate your funds / financing for any of the vehicles that they are third party to. Basically, what that means is that they're charging you a 4.5% fee to simply use their website and have no care in the world as to how you pay for the vehicle or what your financial situation is. Mind you, the average person bidding on a vehicle on Cars and Bids is probably more than capable of arranging their own financing, etc.; however, at IQautos you will have a plethora of financing options to choose from. At IQautos
, you pay 0 extra fees on top of the actual listed price, and we have the ability to customize a loan for you through Capital One Auto Finance
without ever pulling your credit. IQautos is also partnered with one of the best credit unions for obtaining a car loan, iThink Financial Credit Union. We can get you pre-approved prior to coming out with our credit union that has ultra low rates ranging on 36 months, 48 months, 60 months, 72 months or 84 month loans. IQautos does all of this seamlessly as it only requires a few extra documents on top of our normal dealership paperwork.
4) IQautos can help arrange shipping for you with your purchase, in fact if you search from any state in a 1,000 mile radius on IQautos - CarGurus
, IQautos will actually give you a transparent price that includes shipping to your home zip code. Shipping is normally around 50/cents a mile if you leverage our dealership shipping rates. We ship to all major cities including Atlanta, Augusta, Athens, Macon, Chattanooga, Memphis, Knoxville, Nashville, Birmingham, Huntsville, Mobile, Greenville, Hilton Head, Columbus, Columbia, Charleston, Spartanburg, Anderson, Florence, Savannah, Montgomery, Tuscaloosa, Hoover, Warner Robbins, Murfreesboro, Franklin, Charlotte, Winston-Salem, Chapel Hill, Durham, Fayetteville, Lynchburg, Wilmington, Valdosta, Jacksonville, Tallahassee, Gainesville, Dothan, Panama City, Destin, Pensacoloa, Tampa, Orlando, Fort Myers, Clearwater, St. Petersberg, Sarasota, Largo, Bonita Springs, Naples, Marco Island, Estero, Fort Lauderdale, Vero Beach, Palm Bay, West Palm Beach, Delray Beach, Hollywood, Jackson, Meridian, Biloxi, New Orleans, Houston, Galveston, Bowling Green, Lexington, Louisville, Indianapolis, Carmel, Roanoke, Pittsburgh, Raleigh, Lynchburg, Marietta, Alpharetta, Cumming, Sandy Springs, Dalton, Calhoun, Rome, and more! Get a shipping quote today at IQautos!
5) Title work, IQautos aids and assists in completing all of your out of state title work. We can send the titles directly to your local DMV, to your bank or credit union or utilize one of our third party title companies to transact your title and tag processing. If you pay cash or wire funds, we will mail your title directly to you along with any appropriate documents to properly get your vehicle registered. We also provide a 45-day Georgia Temporary Tag. Cars and Bids will not do any of this, they will simply charge you a 4.5% fee to put you in contact with the seller of the vehicle that may or may not have any clue on how to help you. Our office manager and staff of highly trained automotive professionals will be there to guide you through any of your questions.
6) Since Cars and Bids is not an actual Automotive Dealership, they cannot help you with title work, financing, AND THEY CANNOT HELP WITH YOUR TRADE-IN. How does this affect you, well say you're purchasing a $20,000 vehicle and you have a $15,000 car your want to trade-in; at IQautos, not only would be help you with your financing and title work, but you would only pay sales taxes on the difference of the vehicle price (-) trade-in value/allowance. That means, using Cars and Bids, you would have to pay sales tax in GA on the full $20,000 ($1,320 in GA TAVTax based on 6.6%.) If you traded your vehicle in on a purchase at IQautos, you would only have to pay sales tax on $20,000-$15,000=$5,000*6.6%= $330 GA TAVTax. That means that you would save $1,000 on a purchase through IQautos with your trade-in if you were a Georgia resident. This example was just for a $20,000 car, you can imagine how much extra you would save on larger purchases as well.
In short, buying from a reputable car dealership that has been in business for 22+ years has significant advantages over buying a vehicle from Cars and Bids. IQautos is able to provide you with a full circle of products and purchasing options all while making your purchase stress free. IQautos does not charge you any extra fees or dollar amounts to simply buy a vehicle. We have transparent pricing that includes our dealer fee. Most dealers actually add $799-$1,299 in extra, bogus, add on fees to pack their profits.
IQautos has redesigned the car shopping experience around the customer. Forget the painful traditional dealership model, where it requires an in-person visit, multiple dealership personnel, and most of a day to make a purchase. How about one expertly-qualified car geek to guide your entire shopping experience and the dealership visit is optional? At IQautos we call them a Genius, and they’re here to help you, not sell you. Wouldn’t you rather deal with an extremely knowledgeable decision-maker that handles everything from general questions and trade appraisals, to financing, warranty coverage, and nationwide delivery?
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- Tony Lopez (15 Years at IQautos)
Call me at 404-313-3232 with any automotive questions.