How to Negotiate a Used Car
How to Negotiate a Used Car
Posted on February 10, 2021
Buying a used car can be a tricky business, with some sellers living up to the reputation car dealers have for being slippery negotiators. If you're looking for a good deal on a pre-owned vehicle, follow these brief tips to make sure you come out ahead.
- Try to Get the Salesperson to Name the First Price
If you can get the salesperson to make the opening move, you'll have the first advantage. They won't want to scare you away from the start, so their first offer will generally be a reasonable one. Do this right at the start so you know whether it's worth even setting out on real negotiations.
- Worry About Your Own Budget, Not Theirs
Nonetheless, a salesperson will often try and justify a high price by talking up their costs. That's not your concern: know what you want to pay, and don't be persuaded upward for any reason.
- Used Car Sale Tip #1: Determine the Value
When you see a car that interests you, take a moment to check its value online. This will give you a firm grounding in the sales negotiation that follows.
- Used Car Sale Tip #2: Research the Car
If the fair value suits your budget, check if the model has any known reliability issues, or if customer reviews highlight any potential downsides.
- Used Car Sale Tip #3: Inspect the Car
Check the car thoroughly inside and out, looking for signs of neglect. Take a quick look under the hood, checking for visibly worn or corroded parts, and check underneath for signs of leaks.
- Used Car Sale Tip #4: Ask Questions
If you uncover any potential problems, don't be afraid to ask the dealer for more information. The quality of their answer will give an idea of their overall honesty.
- Used Car Sale Tip #5: Make the Offer
By now you should have decided whether the car is a good fit for your needs, and whether the typical asking price meets your budget. Put in a realistic offer, but one that's below your absolute upper limit so you have some leeway.
- Negotiate with a Private Seller
Negotiate with a Private SellerNegotiate with a Private SellerNegotiate with a Private Seller
Remember that if you're negotiating with a private seller, the asking price is on average 10% higher than a fair dealer price, so don't be afraid to bargain a little harder.
- Negotiate Asking Price, Monthly Payments, Loan Terms & Trade-In Value
But if you're buying from a dealer, don't forget that finance terms can also be negotiated. You don't need to accept the first credit agreement you're offered, and if it looks like you're happy to walk away, the dealer may decide a more attractive package is available after all.
- Ask for a Vehicle History Report
As a final safeguard, make sure you get a vehicle history report from Carfax Canada. This will give details of any accidents, product recalls, and other issues which you'd rather know about before parting with your cash.
Find Used Cars in Edmonton and Wetaskiwin
You can avoid all these hassles by visiting our Alberta dealership, where you're guaranteed a great price on a used car that perfectly meets your needs and budget.