Once you’ve spent some time planning your used car purchase, you’re ready to call car owners and make them an offer. If you’ve done your research thoroughly, you know by now that used car prices vary for the same model and year depending on a host of factors like mileage and any prior major accidents and repairs. No matter what the price, there is always room for negotiation. Here are a few tips to effectively reduce the price of your car.
You should always let the seller know that you have the money to buy the car immediately. This portrays you as a serious buyer and whatever else you say will be given far more weight. Sellers are interested in making money with minimum hassle and are more attentive towards people who can readily provide them with cash.
A great way to balance the playing field is by showing the car owner that you have done your research in used cars and that you haven’t contacted the seller through random browsing of some classified website. Mention the list of similar cars you have discovered and the price range that suits you. Make sure your price range is below the selling price. Try and sound confident and well informed.
Most used cars on sale have a built in margin for negotiating price. It is a given that the buyer will ask for some sort of discount. In fact a discount is a great trick to appease the customer and hook them into buying the car. Set a maximum limit that is below the average price of similar cars. Do not set your limit too low as you might not succeed in getting a reduction and price jumps in a desperate attempt to obtain the car may come across as non-serious. Use your initial few cars to develop a better instinct for setting an upper limit on your price.
Keeping your arrogance in check, feel free to walk out or say goodbye if you feel that the negotiations are unnecessarily being prolonged. The seller is trying to wear you out and a show of frustration on your side by ending the discussion can often be a winning point for you, with the seller caving in and accepting your offer.
Remain focused especially if the person selling the car is a professional salesman. By listing unnecessary features the seller will try to justify the advertised price. Do not get distracted by his or her sales pitch and let them know exactly what it is you are looking for. Try to find flaws no matter how small and try to counter his attempt to maintain an unreasonable price.
Throughout the negotiation be stern yet charming. Try to find a mutual interest other than cars and complement him on something. Avoid praising the car as this might work against you. By now you should have secured several car deals with the final choice being made on your terms and most importantly, your price.