"Making one of the biggest purchases of your life can be simple, convenient, even quick — and from anywhere," says a voice-over on an Amazon YouTube video about the deal.
Amazon said in a statement that it will start online vehicle sales in the U.S. with Hyundai. People will be able to search for vehicles using local dealership inventory, purchase or finance it, and then pick it up or have it delivered by the local dealership.
Beginning in 2025, those who purchase a next-generation Hyundai will also have access to Alexa, Amazon said.
“Partnering with one of the world’s most customer-centric organizations unlocks incredible opportunities as we continue to expand our portfolio, grow our sales network, transition to electrification and realize the future of smart mobility,” Jaehoon (Jay) Chang, president and CEO of Hyundai Motor Company, said in a statement.
The news comes as the auto market continues to recover, even after a six-week strike by the United Autoworkers Union (UAW) at Detroit's Big Three automakers — Ford, General Motors and Stellantis — that ended last month. According to a Cox Automotive report, car prices held steady despite the strike and new-vehicle inventory at the start of November rose.
What to know
At Amazon, besides models and prices, there are a few other things to consider, according to a November 17 MotorTrend report. This includes the fact that you will not be able to make returns on Amazon, at least not at this point.
Marty Mallick, vice president of Amazon Worldwide Corporate Business Development, told MotorTrend that the two companies will be in the testing phase next year, however, and would see if returns could eventually be an option.
Another consideration is that you won't be able to test drive the vehicle unless you visit a dealership.
Meanwhile, you might also want to consider that other automotive e-commerce websites, such as Carvana and Driveway, also offer the option to buy cars online and both have seven-day return policies if you change your mind.
Car buying tips
Car buying for beginners especially, can be tricky, so here are a few points to keep in mind:
Remember that car buying can be an emotional experience, so know your budget and stick to it, as Kiplinger previously reported. Think hard about whether to use a dealer or a bank for financing and shop around for the best rates. You may get a better deal on a loan from your bank or credit union, which may also help to alleviate the pressure of purchasing and financing a car from the same place.
Joey Solitro is a freelance financial journalist at Kiplinger with more than a decade of experience. A longtime equity analyst, Joey has covered a range of industries for media outlets including The Motley Fool, Seeking Alpha, Market Realist, and TipRanks. Joey holds a bachelor's degree in business administration.
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