Negotiating the price of a used car cannot have one correct way of doing it since various factors are affecting the prices of these cars.
Before deciding which car model you want to buy, you are supposed to have done prior research that will help you plan how you will raise money for the purchase. What determines the resale value of a used car is not only the model, but there are other necessary factors to consider such as;
- The condition of the vehicle
- Optional additional that may raise prices
- Accidental history of the car
- The previous owner of the car
Knowing the resale value of the vehicle you are after is a requirement to this negotiating business. Assuming you are the one selling the car, would you want to keep negotiating with a customer who is so rigid at a genuinely less valued price? Do not ever go to a car business blindly; you will most probably end up getting a less valued car deal. You can search online for websites in your region that offers real resale values for cars.
Some of the essentials you need to have in mind
- Do not depend on one car deal have a list of alternative deals.
- Try not showing up your emotions during negotiations talks
- Be patient; do not rush to make decisions.
- The more your specified resale car is hard to find the higher its resale value will be.
- The cost of the spare parts of the vehicle you want to buy.
- Be flexible and be ready to make counteroffers.
The Negotiating Process
Having done prior research, exhausting all the available car deals, you can get around you as per your specified budget will be a good start to set your foot out there to make purchases. Search online for the cheapest car dealers around you. You might consider other factors like the installments package or the warranty offer provided. Nevertheless, before you hit the road, we want to equip you with the best used car negotiating tips
Be the first to break the ice
Do not let them ask you what your rock bottom price is. This question determines of whom the closing price will favor. Be the first to ask how low the prices can go. If they quote a price lower than their initial price, that means your dealer is flexible for negotiations.
Take a second look at the Vehicle
This round check objective is to point out all the flaws the vehicle has not ignoring any scratches and stains. These comments will not only give you an upper advantage when devaluing the car but also send a physiological pressure on your seller weakening his bid price.
Walk away
If you both do not come up with an agreement on the price, the best way to deal with this situation is to give the deal more time. Deciding on how to walk away will determine if the seller would reconsider his lowering the initial price again. Explain to your seller that you have done extensive research and you are quite sure the amount you are offering him is a fair price as per the conditions of the car.
You can walk away from the seller’s premises with a humble but firm request to the seller, if he is going to reconsider the coming near to your price, he should not hesitate to give you a call.
Good timing
Timing the low peak seasons when buying a used car will give you added advantage that may help you land on a better deal. For instance, going to a car dealer shops during storms and terrible weathers days or on end of month days, these sellers will be desperate to close that one last deal.
Email or phone conversations
For those who are good convincing via phone will have to try this method when closing any other deal.
