William Gholson deals with auto parts in the San Antonio area. As an expert mechanic, he has an eye for good deals involving rare car parts. The story usually goes something like this: someone has a car problem that requires replacing a part in their vehicle, they call a dealership, only to be told a ridiculous price that leaves them gasping.
Some parts carry a 5000% profit margin, which is obviously ridiculous. Now granted that we are talking about rare parts in this example, profit margins in the high hundreds are common place across the board, which means that you could still end up paying five, six or seven times more than the true value of that part.
Do Your Research and Always Verify
Googling prices and dealerships on the Internet is what research looks like these days, and for good reasons. If something is available, somewhere, anywhere, there is a very high probability for you to find it on the Internet. Verification is crucial – always make sure to check the part’s number before completing the purchase.
A Little Bit of Haggling is Okay
Haggle a bit, whenever there is an opportunity, but stay polite throughout the process. Junkyards are usually willing to match the prices of other local businesses. Never lie, however, as they can easily verify that on the Internet.
Be Very Careful About Rare Parts
If you find something online that could be a really rare part, always check it out in person.
William Gholson often buys rare car parts online and in the local auto part dealer communities.