You’ve found the perfect car that ticks all of the boxes but it is just out of your price range – what do you do? Instead of walking away disappointed, it is worth negotiating and you might be surprised at how much you could save when you know how to negotiate like a pro.
When buying a used car, it is expected that there will be negotiations, and you should not shy away from this. So, if you want to know how to get a great deal when looking for a used car for sale, then read on to learn the secrets to negotiating success.
Research, Research, Research
One of the best car buying tips is to spend time researching your options and process before you start visiting dealerships. You should look at the average cost of used cars in the area and try to find a few alternatives for the model that you are planning to buy.
This shows that you have done your homework, you know the market value, and you have other options.
Automotive expert Alex Showalter has insightful content with accurate and up-to-date used car information. Knowledge is power when buying a used car, so spend time researching the vehicle online before you negotiate the car price at a dealership.
Encourage Them to Open Negotiations
It is often said that the person who speaks first loses in negotiating, as it puts the responder in control of the situation. This is why you want them to open negotiations, whether it’s by them advertising the price or by you asking them what they are offering.
Make an Offer Lower Than the Market Value
The best way to enter a negotiation is to offer lower than the market value but still offer enough that might interest the seller and show that you are serious. You should be able to tell how close you are based on their reaction (pay close attention to their body language).
Increase by Smaller Amounts
At this stage, you are likely to have a few counteroffers made. You should make sure that you increase your opening offer by smaller amounts each time, such as $100, $50, $25, etc.
Be Friendly Yet Firm
During these exchanges, it is important to be friendly yet firm. You want to maintain a positive relationship while showing that you are in control.
It is helpful to have a firm figure in mind for the most that you would be happy to spend. If they will not agree to this figure, do not be afraid to walk away.
Keep It Simple
A common tactic that is used when trying to negotiate car prices is to muddy the waters by adding in extras. This can make matters confusing and make it easier for the seller to gain an upper hand.
Instead, keep it simple and stick with the price for the used car.
Learn How to Negotiate and Make Big Savings
This post should teach you how to negotiate and help you to make big savings when buying a used car. Many shy away from negotiating, but it can make all the difference and is part of the dance when shopping in the used car market.
Check out our other articles on buying a used car for sale.