How to Get the Price Down on a Used Car?
When buying a new car many consumers prefer going for an old car. Because the depreciation of an old car reduces the cost during the car deal, it doesn’t matter whether you are buying a car from a private seller or a dealership; you must possess a sound knowledge of the car before you start negotiating. You must understand the relationship between the car price and its age, condition, and depreciation.
Many online research tools and websites can help you with proper information regarding the particular car model before you start the car buying process so that you can purchase your dream car at the best price. Car prices may vary from dealer to dealer. So, you may have to find a car dealer who is flexible enough to go through with the negotiation process.
Tips on How to Get the Price Down on a Used Car
You will find many tricks and tips on many websites. But you need to find the perfect strategies that go with your personality. Here are some tips for you that may help you to get the price down for the car buying process:
Get a Proper Idea of the Car’s Price
Whether you are buying a new or used car, the first step is to get the proper information about the used car price and the manufacturer’s suggested retail price. To get a good deal, you will have to come up with a solid plan on how to get the price down on a used car and have to completely stick to it. You can start the process by conducting thorough online research. By doing so, you will know the fair price of the car.
By comparing the market value and the price the seller is demanding, you can decide whether it’s worth it for you to go forward with the deal. Besides, you may need to decide whether you want to buy the used car from a private seller or local car dealers. You can’t expect an out-the-door price from a car salesperson. As private sellers don’t master negotiation skills, there is more space for you to negotiate the price.
Check Out Multiple Dealerships
You must compare the prices of multiple car dealers to get the best deal. You don’t need to roam around the car showrooms. You can easily check out the prices of your desired car online. You can simply contact a car dealer through email to know the car details and car prices.
You can contact dealers from a metro area and cast a wider net. You can look for local car dealers and beyond that. But make sure they are flexible and open to negotiation and offer you all the facilities, like a test drive, before you purchase the car.
Make the Perfect Opening Offer
Once you make up your mind about the car, you must go forward with the deal and make the right opening offer. The price must be lower than the asking price and definitely within your budget. It is said that the tone of the rest of the negotiation process depends on the opening offer greatly. But make sure not to go for a monthly payment plan.
Car buyers often get intimidated by the car salesperson when buying a new car. Sometimes they get too caught up and confused about the facts and numbers. The key is to stick to the numbers and stay confident. And if you ever feel intimidated and uncomfortable during the negotiation process, feel free to walk away from the car dealership.
Make Counter Offer
Car dealerships can take a long time to process. So, you need to be very patient throughout the whole process. You can make another offer depending on how the salesperson or the private seller reacts to your initial offer. You need to be strategic and very confident if you want to get the price down of the used car.
Once you are in the negotiation process, the car salesperson will inform the sales manager about your offer. And that’s how the process starts. Sometimes, the process gets too lengthy and can easily wear you down. So, you will have to inform the salesperson about your time restriction and that you are willing for a swift and fast deal. And if they don’t respond immediately, you will have to walk away.
Don’t Stress Over the Sticker Price
There are many tricks and tips available on how to get the price down on a used car. One of the most effective ones is you need to completely forget about the MSRP sticker price. As it’s a used car, it has been through a lot of depreciation for years. So, it’s natural that the price of the car will be lower than the sticker price. So, you are allowed to make any offer regardless of the car’s sticker price.
A proven way to get a good deal on a car and reduce the number of items you have to negotiate is to take your car loan and trade-in out of the equation. We’ll get to the trade-in in a moment, but let’s talk about financing first.
Get a Pre-Approved Financing
Getting a pre-approved loan is one of the best ways to negotiate with a car dealership. It’s now easier than ever. You can apply for a pre-approved loan online. Once you get the pre-approval in writing, you already came a step closer to sealing the deal and successfully taken a piece out of the negotiation puzzle. Let the dealers know you have pre-approved financing ready at hand and you want a further discount on the car price.
You can offer a trade-in for the same car or some other car for a similar price range. It plays an important role in negotiation. By offering a fair trade-in, the salesperson will know that you have a piece of good knowledge about the car price.
Offer Paying Cash for Discount
If the car salesperson offers you a plan with monthly payment, make sure they deny the offer at once. Let the salesperson know that you are willing to pay the full amount in cash and you want a lower price with a further discount. This trick has proven to reverse the whole negotiation game.
The salesperson would have his ways of distracting you from the negotiation process with the maintenance plan, starting with insurance, financing, and a whole deal of monthly payments. Don’t get distracted and keep your focus on the car sale. You may need to simplify the deal by letting the salesperson know that you are only interested in a good deal on a car.
Getting the price down for Certified Pre-owned vehicles
Certifies pre-owned reports are available for all the luxury car brands, such as Mercedes Benz and Lexus. When you are buying a used car make sure it’s a certified pre-owned vehicle that has valid inspection reports and vehicle history reports. These reports are the symbol that the cars are inspected thoroughly.
Negotiate to Get the Best Price Without Sales Tax
When buying a used car, make sure to ask the seller about the sales tax and the registration fees. Negotiate more to get a lower price, excluding the sales tax and other hidden costs. Besides, take a test drive before closing the deal.
How to Be More Strategic During Negotiation
You need to follow a few strategies to get the price down on a used car. Some of them are described below:
- Before making an initial offer, research the current market value of the car.
- Let the salesperson know you have done your homework.
- Stay focused on the numbers and facts.
- Remember, it’s just a business transaction and nothing more.
- Be confident and stay focused in every step.
- Don’t come up too strong or soft.
- Stay firm and polite.
- If you feel intimidated or uncomfortable with the negotiation, feel free to walk away.
Buying a used car can help you out financially because of its depreciation. But choosing the best car for you can get a bit tricky. You have to do online research to find more information about the car. You can check out the Zippy Cash for Cars website for the latest car information. Then you compare car prices and select the perfect vehicle according to your preferences and needs.
Private sellers are preferable as they demand less money, but at the same time, car dealers are more reliable. When you get all the right information, you can negotiate confidently. By following some simple strategies, you can master the art of negotiation. You need to stay focused and remove all the variables from the deal.