It pays to be a smart consumer in today’s market and there are some things you must understand before negotiating for a used car. In a car dealership everything is negotiable and if you don’t know how the game is played there is a good chance you will be out talked by the salesman and end up with a less-than-desirable deal.
This article shares with you 10 things to know before negotiating for a used car.
1. Know how much you can afford to spend. Before stepping foot in the dealer showroom, know your spending limit and stick to it, this will help you avoid being upsold to a more expensive model.
2. Research. Go online and research the average selling price for the vehicle you are considering so you know the dealer’s price is in the ballpark.
3. Open your negotiations low. Start by giving the dealer a low bid for the car but be reasonable. The car dealer will work with you to find a final price that works but they will be less inclined to work with you if you offer too little to start.
4. Don’t allow the dealer to rush you. The salesman makes money by selling more cars so he or she will want you to make your buying decision quickly. Understand this but don’t let it intimidate you, if in doubt go home and sleep on it.
5. This deal is only good for today. This is a common ploy used by the sales agents but don’t fall into the trap. The salesman wants to sell you a car period this means he is as happy to sell you a car tomorrow as he is today.
6. Buy late in the month. Sales agents typically have monthly sales quotas to meet and the end of the month is their crunch time. These quotas are attached to sales bonuses which means you are more likely to get a great deal as the month end.
7. Shop in mid-week. Avoid the weekend’s when most people buy cars and instead go mid-week when the sales are not happening as quickly and the dealer is more anxious to close a deal.
8. Ask about unadvertised sales. There are often sales that are not made know to the vast public but by asking a simple question about unadvertised sales you might just land on a gem.
9. Don’t get emotionally attached to a car before the deal is made. Once you are emotionally invested in getting a car you have lost all of your negotiation power. Know that there are many cars that you would be more than happy to own.
10. Bring a car expert with you. If you are uncomfortable with negotiating for a used car yourself then bring a friend who knows cars. This tip alone could save you hundreds or more.
If you are faced with negotiating for a used car don’t be intimidated, simply follow these 10 tips and you will be well on your way to a great deal.