While buying a used car is a great price-saving move, cracking the right is a tough task to do. One must negotiate the price correctly and keep all of the wits in place.
Whether you’re buying a used car from an authorized seller or from a private seller, understanding the art and science of negotiating is important.
Well, not everyone is a good negotiator. Such individuals still have a chance if they read this post and do as suggested. We have covered the top 10 negotiating tips, to adopt along with VIN Check, to crack a good deal in a used car.
Before Beginning the Negotiation
It’s true that negotiating the car price is an indispensable part of a used car purchase. But, before you make this move, knowing the exact condition of the car is important, based on which you’ll start the negotiation.
It’s very common to hide details like damage reports, actual mileage, parts authenticity, and other price-driven details to fool the prospective buyer. A car with a poor score on all these factors is worth a penny only.
But, sellers can hide a few or all of them and sell the car at a higher price. So, knowing the ground reality is important. Online VIN Check is going to help you a lot. VIN is a 17- character long unique code, allotted to each car. By decoding VIN, one can easily find out the right information related to factors like manufacturing details, car model, car body type, engine type, and so on. There are multiple online VIN check platforms like BMW VIN Decoder that will decode VIN in a blink of an eye. Try it once and you won’t regret it all.
If you know the reality, negotiation becomes easier. No one can fool you or charge you a bomb for a scrapped car. Once you have used the online VIN check facility and have access to actual details, try these tips to negotiate the used car price.
Tips To Negotiate the Used Car Price
Tip #1- Know your budget
Before you negotiate the price from the seller, figure out how much you’re going to spend. Set a budget for a used car and try to keep your search around the price only.
Tip # 2- Do some research as well
Before you quote a price, do some research at your front as well. Try to figure out what’s the market price for the model which you’re planning to buy. What price other competitors are offering? This knowledge will help you crack a good deal.
Tip #3- Never reveal your exact budget to the seller
Keep the budget to yourself. Don’t disclose it to the seller as once they know your spending capacity, they will never get lower than that price. Always start with a low price and keep some margin in your hands. This way, you’ll prevent overspending.
Tip #4- Don’t show desperation
No matter how urgently you need a car, don’t let it come out, especially in front of the seller. Sellers will sense it and become stern to reduce the price of the used car.
Experts suggest being a little patient while dealing with the sellers. Maintain your calm and composure and remain flexible. Don’t let the seller utilize your need as an opportunity to increase the price of the used car.
Tip #5- Do for a price break-up
Asking for the price break-up is a great move to make towards used car price negotiation as it gives you some room to negotiate. If the seller is quoting a high price because of the latest model year, you can find out whether it is actually worth the price by decoding the VIN. It grants great financial freedom.
Tip #6- Don’t be afraid to say “No”
We know that you may find the car very lucrative and in the desired condition. But, its price is on the higher side. So, take the courage and say “No” to the seller. Denying once will put the seller in the fear of losing the customer and some more scope of negotiation is instantly created. Walking away is not always harmful.
Tip #7 – Ask for the pre-purchase inspection
A pre-purchase inspection is the best way to know the exact condition of the used car by an expert. In this process, a certified mechanic or automobile expert assesses the car condition and gives the verdict on costing, left life, and other crucial details. Before you make a deal on a used car, we would suggest you ask for a pre-purchase inspection.
Tip # 8- Speak confidently
It’ll be about confidence. If you’re not confident about the price quoted then there is no point in negotiating. Sellers have strong wits and they can easily sense the turmoil going inside prospective buyer’s minds.
If you have a fear of losing a deal because of quoting a lesser price then the seller will sense it. So, no matter what and how you’re dealing with it, never lose confidence.
Tip #9 – Negotiate on cash or trade value
Make sure that you’re always negotiating on the cash or trade value on the used car; not on the monthly payments or installation. This can cause a lot of confusion and you may not crack a good deal.
Tip #10- Go for a test drive
No matter how good a used car seems on the papers, a test drive will give you a close encounter with the actual reality. So, don’t forget to ask for it before you close the deal.
Negotiating used car prices is a tedious task and demands some extra bunch of skills. If done properly, it can help you save a huge amount of money on a deal. So, make sure you’re confident and give your best during the negotiation.
Don’t rush things, do your market research, and have the courage to walk away from the deal if things don’t seem right. These things will help you crack a good deal. Negotiate with full confidence and we’re sure you will bag the car of your dreams within your pockets.