Former hedge fund manager and investment strategist Paul Mampilly is an expert when it comes to investing in the technology industry. He earned an MBA in 1996 at Fordham University and he joined Wall Street in 1991 at Bankers Trust. He managed the hedge fund manager at Kinetics Asset Management before deciding he had enough of Wall Street and its focus on making the rich even richer. He now publishes Profits Unlimited which provides investment advice to regular investors using Wall Street tactics.
He has analyzed the car industry and determined that people will be buying cars primarily online before long. Paul Mampilly bought a car himself earlier this year and did so for the first time at a car dealership. He put it off as long as he could because, like most people, he thought that the process of buying a car is about as painful as it could possibly be.
He spent a great deal of time researching what car he should buy as he didn’t want to be influenced by the salesperson at the car lot. He is married and his they do a lot of home projects together which means taking home materials to complete these. They also own a number of animals which means that they need ample space in vehicle to transport home their food.
After having talked to a lot of people about the car buying experience Paul Mampilly agreed with them all that it pretty much sucks. Even a root canal sounds better to many people than dealing with the nonsense that one has to go to in order to buy a car from a dealer, whether new or used.
Paul Mampilly did some research and said that a convincing Autotrader survey showed that people would rather do the car buying paperwork online instead of at a dealership. Digging in deeper, he sees that the entire car buying experience is moving online as just about nobody willingly deals with car dealers in person. You can negotiate the price online, set up the car loans, and even have the car delivered without ever stepping foot in the actual dealership.
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