How to Negotiate a Used Car Price: TrueCar
None of us are unfamiliar with the idea of buying used cars. But knowing how to negotiate the price when buying a used car is very important. Let’s say that you want to buy a new car. Then the fair price is what the manufacturer states it to be. But when you want to buy used cars from car dealers, there is no fixed understanding of the fair market value of the car. This is where you can take the help of TrueCar.
People are getting more comfortable with making transactions to buy used cars. There are a lot of platforms like TrueCar where that provide both the buyer and seller with a common ground to make offers and negotiate a suitable price. But as TrueCar is a free platform for buyers and a paid platform for TrueCar certified dealers, buyers need to carry a certain decorum to negotiate at TrueCar.
What is TrueCar?
TrueCar gives a guaranteed price for a car you can buy at one of your local dealerships. This is to give you a good price. The service does not charge the users, and there are no hidden fees. The platform aggregates data, the MSRP of the cars, insurance data, loans, dealers, and potential buyers. From the latest data on the overall market, TrueCar suggests your desired car from three dealerships in your locality.
The guaranteed price works via the TrueCar Certificate Program on the TrueCar website. After you provide them with your personal information, they issue this certificate to ensure the price guarantee. If the car is available for sale when you walk into the dealership, the dealer will honor the price certificate. TrueCar certified dealer is a dealer who has registered on the platform to sell cars. Only the dealers who have registered are shown on TrueCar. These dealerships can be your local dealers or online-only dealers.
A TrueCar Price Report
To compare prices and get a clear picture of the price of the vehicle, a price report is very useful information. TrueCar has historical data on car prices, car insurance, the amount of money the buyers are paying, and the sale price of the cars. Thus you get an accurate and updated price report on the car you want to buy. And TrueCar prices are relevant to the car market in your area.
When you view the price report, you have the luxury of choosing the dealer you like. Shoppers can get the best price from the car dealerships where the car is being offered. The price report shows the most recent calculations, making it very helpful for buyers. Also, it is an open knowledge that the used car prices are not fixed, giving the buyers the opportunity to negotiate the best price.
How TrueCar Works
A car shopper can search for new or old cars available in his/her zip code, and in the results, you see the MSRP (Manufacturer Suggested Retail Price), savings offered by the participating dealerships, the destination fee, and the regional advertising fee. TrueCar is free to use. They take a fee when the dealerships sell a vehicle to a customer referred by TrueCar.
The prices of the cars are rated best/fair/good/high by comparing them with the price offered by the other participating dealerships. This price is derived from historical data of prices that have been offered to buyers before. TrueCar platform helps with leasing and buying vehicles. Customers can check TrueCar reviews on the dealers before making a decision.
Makes Car Buying Process Easy
When you buy a car, gathering information on car prices, comparing, and going to car dealerships can be too huge a task. On the other hand, if you don’t, you miss out on savings and better prices. Buying used cars becomes easy with TrueCar; you can compare the price and know the car’s usage history report.
Transparent Car Prices Ratings
You can get a glimpse of the prices of the vehicles and if the price is rated “Excellent Price,” “Best Price,” “Fair Price,” or “High Price.” The interactive breakdown shows you the price range of the rating and a few short explanations of why the price differences can be. There is no hidden cost added to the price shown in the price report.
Negotiating the Price for Used Cars
Usually, TrueCar takes its cut from the sale of the vehicle to the users. And not all dealerships are available on TrueCar. The price you find on TrueCar is competitive, but not the least price possible for the car you are looking for. Thus going to at least two dealerships and checking the price will give you a better understanding of the market.
How to Negotiate Used Car Prices at TrueCar?
The prices for the used cars are displayed on the vehicle’s listing on TrueCar. These numbers are not the final value of the car. The price listed by TrueCar is the price that was offered to potential buyers before for similar vehicles in a certain region. It is up to the buyer and seller to come to an agreement on a suitable price. You can compare, get informed, and then make your decision.
Beware of Price Fluctuations
After you choose a vehicle, you can get a price certificate and go to the dealership to buy the car. If the car is available, the dealer can sell you the car. There are chances that the car might have already been sold by the time you do. There has been an increase in the demand for used cars due to a supply shortage of new cars. Depending on the state of the economy, prices might vary.
Follow TrueCar Factory Invoice
TrueCar provides the scan of the actual cost from the factory. The factory invoice gives the much-needed idea to the buyer about the actual cost of the vehicle. Because of this, the potential buyer can see the transparency of the price layout and negotiate the price accordingly with the dealer. Other websites often omit manufacturer fees to show a cheaper price for the car, which can be seen as fraudulent activity. So a buyer must negotiate the price with the TrueCar Factory Invoice, not an invoice from any other website.
Finding the best deal on used vehicles becomes easy with TrueCar price reports. The dealerships offer competitive prices. The prices can vary due to increased demands for the specific model and color of the car, and the dealer wants to clear the stock, etc. It helps you get an overview of the prices, and you can negotiate the price on the dealerships in your area.
Pros and Cons of Using TrueCar
Finding cars and making buying decisions have become much easier with TrueCar. You do not have to wonder about the fair value of the car you want to buy. But like everything online, it has pros and cons as well.
- Buyers can find a car free of charge and can start the buying process.
- Potential buyers can receive personalized offers from dealerships without any hassle.
- TrueCar often has offers like Military Appreciation Package for veterans, their families, and service holders.
- Fewer chances of scamming as they provide transparent price breakdowns.
- They have a shortage of inventory as only dealers are registered participants in the sale.
- The car you want to buy and collect a price certificate for might not be available when you go to buy it.
- Online facilities are available only in the Tampa market at the moment.
- As TrueCar earns money through the fees from the dealers, it is mostly a dealership-friendly platform.
Should Car Buyers Use TrueCar?
Many people ask this question as well, “Does TrueCar ship cars?” TrueCar is a collection of a lot of certified dealers who can offer to ship the car you buy without any extra hassle. If you want, you can buy the exact vehicle you want with help from Truecar dealers with detailed registration information. It is a place for buyers where they have nothing to lose. If they like a car offer and price, they can decide to take it or leave it. In the case of both new and used cars, TrueCar can be a real help for buyers.
A lot of people prefer to buy cars at a fixed price only because they are not confident in dealing with sellers when it comes to negotiating. Many of us feel uncomfortable in trying to reach a middle ground through several steps of offers and counteroffers. If that is your problem as well, then TrueCar is just the platform for you. It has no required fee but works as a great advantage in knowing the current ongoing price of cars.
Even though TrueCar does not offer you a fixed price, it gives you the value around which you can set your suitable price. Negotiating is a skill, and TrueCar provides the perfect way for you to approach it. But before attempting anything, all needed research should be done. Learn more about topics like this and make good, well-thought-out decisions.