When you are buying a used car, a Vehicle Write off check, Revs inspection and other tests come later. First, you have to negotiate the deal in a proper way, to get the best possible deal on a second hand vehicle. Here are some tips to help you do that.
Carry out homework
You have to do plenty of homework, given that it is a big purchase that can have a big impact on your life and finances for many years to come. Use your budget and Consumer Reports in order to determine the best models and makes to go for, as well as the types of vehicles that can be the best value for money options.
After you have determined what you wish to purchase, make use of online resources such as Kelley Blue Book and Edmunds to get information about the pricing. This will allow you to get detailed information on the make, year of manufacturing, model etc, as well as the mileage, condition etc. You should also keep your location in consideration. The cost of living, just like all else, has an effect on car prices. In the Midwest, used vehicles come cheaper than in the coasts.
Know the amount you can ask to be given as rebate
When you negotiate a car purchase, you have to determine the amount that you may reasonably ask to be let off from the retail cost. You should conduct enough research to walk into the showroom of the dealer and know the amount paid by others for the vehicle that you wish to buy, its MSRP, invoice cost, your “walk away price” etc. Take into account the maximum amount that you would be willing to spend.
Shop multiple dealers
Do not hesitate to say that you can get a better discount down the road. But you have to ensure that you can support this claim. It is a good idea to play the lots/dealers against one another and find out who is more eager to please you.
Do not mention a trade-in at the outset
In case you have a trade-in, it is not a good idea to mention the same until the very end. The salesman is likely to give you a more attractive deal when you mention a trade-in, and it can distract you from the actual price quote that he gives you on the used car that you prefer to buy. Even if the salesman enquires whether you would like to do a trade-in, stall that discussion and say that while you would want to trade a car in, you would prefer to nail the cost of the new car before you arrive at a trade in.
Have full knowledge of the numbers
Find out about the “off the lot” and “out the door” price. When you are quoted a price, make sure that it is detailed and consists of all the fees and additional charges. You would want to ensure what is the “out the door” price and what the “off the lot” price is.