How to negotiate a used car price?
You are out looking for a vehicle to buy, and you have found one. Good for you. It is beautiful and performs like a car angel. You have decided to buy it, and you know that when one buys cars it is expected of them to negotiate for the right value of a car. If you don’t and you just pay the amount that it is being sold for, you will be saying goodbye to more money than you need to. The car sales person will laugh at you behind your back. So with that in mind, here are some great things to think of when preparing oneself for the process of negotiating a car’s price:
Research the Car’s worth
All you have to determine the value of your car. This will be easy to do at the dealership or where-ever the car is with your smart phone. As long as you have enough data on it, though. Go to a website like Red Book at seeing how much this particular make and model is normally worth so you have a starting point of knowledge to build on.
Have the Vehicle Inspected by a Mechanic
This will cost you a little bit of money. But it might save you some if there are some serious problems with the vehicle. Whatever you find out can be used as ammunition against the seller when trying to make him accept less money than the asking price. You could also offer to pay only some of the repair costs while the seller pays the rest.
Make the Offer
When a used car sales person puts a price on a used vehicle. They will mark it up by twenty percent so they can make a profit off it. Don’t even try to get the price lowered more than that because you will fail and look silly as a result. Getting to pay fifteen percent or ten percent less is more realistic.
You will want to have an air of confidence about you when talking to the seller so that you can have a psychological upper hand. If you seem like you won’t be easily manipulated, you can then use this to your advantage. You can do this by giving a firm handshake and making strong eye contact.
Don’t Compromise Too Much
You should be prepared to make small concessions here and there, but don’t go too far. You don’t want to be caught paying more than you have allowed for yourself in your budget.
Make Sure to be Nit Picky
Have a good look at the whole vehicle. This will be a good moment to use any info provided to you by the mechanic. What you want to do is find little imperfections. Be subtle in getting the seller to be worried about them by implying that you might be having second thoughts because of them, but then backtrack and say that you may still purchase the vehicle.
Haggle Back and Forth
If the seller says that they will knock five percent of the price off. Counter them with a higher price slashing of ten percent. Then they may offer seven and so on. If they refuse, then you are well within your rights to walk away, and halfway out the door, they might change their minds, but if they don’t that’s no big deal. Congratulations, you have negotiated!