I’ve used brokers in the past on this forum with no issues, but I knew someone else interested in a Xc60 and showed them one of the deals from a broker. They then asked how do I know I’m not being scammed if they request payment to be paid not via a credit card or via PayPal invoice etc? It is a valid concern which I didn’t think of since I’ve seen the major brokers in my tri-state area listed here with no problems posted. In NY you need to be registered and a bond of 100K currently! Is this required before brokers register on the forum?
No, registered brokers on here are not screened to be legit and/or lawful businesses. Users on here are encouraged to do their own research before conducting any transactions.
Dealers request brokers licenses, W-9s, proof of bond, and local business licenses before they will let a deal go through so there’s essentially no need for a verification system in this forum.
There are a number of brokers here who (probably) aren’t getting paid by the dealer (however they might be double dipping). Also a number of brokers here aren’t licensed but are still doing deals so either the dealer isn’t checking or they are only getting paid by the customer.
From what I’ve seen and from what I’ve been told from people’s experiences who are not on this forum, the brokers get paid by the dealer which is why Id be hesitant to pay a fee.
And I said that when? Plenty on here that I’ve encountered that get paid via the dealer if I chose to go that route. Thanks for the assumption Einstein!
Depends on structure. Some dealers might operate on a birddog structure and effectively pay the broker a mini with the broker collecting the lions share of their fee from the end consumer.
Just the dealer. Customers sign a broker agreement when they do the deal that states who is paying the customer. Dealer or customer. It has a line for how much the dealer is paying. Most times that line is blank because they don’t want customer to know how much.