How To Negotiate When Buying A Used Car

By Author: Marty Vergel Baes
Total Articles: 423
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Buying a used car can be that risky. This is because there is a great possibility that you would be getting a used car in poor running condition. However, you can avoid this by doing a careful car research before buying a used car. In addition to this, you would be able to obtain a good used car by knowing the proper way of negotiating with used car dealers. Car negotiation can actually be accomplished by using the steps below.

Step 1: Investigate on the True Market Value (TMV) of the car

You can start preparing your negotiation plan by investigating the true market value of the used car that you wish to buy. There are actually two ways to do this. The first method is by gathering enough information about your chosen car from the nearest used car dealerships. You can visit two or more used car dealers and inquire about the TMV of your chosen car. Do not limit your investigation by visiting a single dealership. The more car dealership you consult the better. This allows you to gather and compare TMV information from dealerships. Choose the most realistic ...
... estimate you obtained.

The second way to investigate is by conducting car research using used car dealership sites. Most of these sites provide TMV estimates of all the used cars they offer for sale. All you need to do is to provide these with the information about the car that you are planning to buy. The information might include the car's model, make, and condition.

Step 2: Allow a reputable mechanic inspect the car

Using the information gathered from the first step, try to locate the car that you wish to buy. Start transacting business by inspecting the used car's over all condition. It is advisable that you bring along a reputable mechanic to assist you in doing the inspection. This allows you to determine the possible defects of the car that you wish to buy. Take note of the car's negative qualities. You can this information as leverage during the negotiation. You can also earn discounts from these defects or negative features.

Step 3: Secure a copy of the car's history

Secure a copy of the history of the car that you want to buy from specialized websites such as CarFax or AutoCheck. Through this you would determine whether your chosen car was salvaged or got involved in an accident. These factors reduce the car's value. You can show the document that contains the history of the used car to the salesperson that is handling your transaction in case he or she is charging you with an amount that is more than what is appropriate.

Step 4: Demand for a test drive

Before going into the actual negotiation, request for a test drive. Driving the car enables you to point out its weaknesses and this can be useful during the negotiation.

Step 5: Do the negotiation

During the actual negotiation process, project yourself as if you have nothing to lose when the negotiation fails. Be straightforward in demanding for the things you want from the deal. Offer the dealer with a payment that is 15% lower than what they asking. It is better to use cash for the transaction since most dealers closes the deal promptly if it is done using cash instead of a financing deal. In case the salesperson refuses your offer, make a counteroffer by increasing the price that you are willing to pay. If the salesperson refuses still, be ready to walk away and find another dealer.