Are you looking to buy a new-to-you used car? But wait! Are you also shopping on a tight budget? If you answered yes, you may be looking for some helpful tips on how to negotiate used car prices down to what you can afford or what you want to pay.
How to Negotiate Used Car Price Tip #1: Estimated Value from Kelley Blue Book
When you are interested in buying a used car, you should always run a free value check on the Kelley Blue Book website. You will get an estimated value for the car. Lets say that a vehicle seller is trying to charge you more, point out the Kelley Blue Book price. If you do not have a phone that enables you to browse the internet, print off the value check before going to meet with the seller. This works as a good negotiation tactic if the seller is charging more than the estimated value.
How to Negotiate Used Car Price Tip #2: I Can Pay This Much
Lets say that a used car seller is trying to sell their car for $4,000, but you only have $3,000 to spend. No harm will come from outright stating this fact. When doing so, be willing to show your excitement, but also your willingness to walk away. Basically, offer to buy the car right then and there for $3,000. With this approach, the seller is so close to making a sale that they can practically feel the money in their hands; not everyone is able to say no to this.
How to Negotiate Used Car Price Tip #3: Point Out Defects
When taking this approach to try and haggle with a used car seller, it is important to proceed with caution. You don’t want to outright accuse them of being a crappy car owner who didn’t care at all about maintaining their vehicle. What you do want to do those is point out issues or defects that would need fixing; potentially costly fixes that will up the overall price of the car. With this approach, you aren’t only asking for a better deal but providing concrete evidence as to why you should get it.
How to Negotiate Used Car Price Tip #4: Wait
This tip on negotiating to get a better deal on a used car does involve being patient. But lets say that you met with the seller and they didn’t budge; they want their $4,000 asking price and are unwilling to accept $3,000. Before you leave, provide the seller with your information (name, phone number, and email address). State that you want them to contact you if no one else expresses interest. Your offer of $1,000 less than their asking price might not sound good right now, but it will in 3 weeks when the car still sits unsold!
As a reminder, used cars can be purchased from a wide range of different places – current owners, dealerships, third-party sellers, and so forth. Regardless of who you intend to make a purchase from, always remember that no harm will come from attempting to negotiate a lower price. In fact, you may find yourself pleasantly surprised with the results.