Hopefully by now we can assume that you've started to do your homework. You've read the Vehix article on the 8 New Rules for Buying Used Cars, you've watched our video on how to buy used and you're finally ready to get down to the nitty-gritty of negotiating. Here's 7 tips for getting the best price and walking away with a deal.
1. Have Plenty of Time to Shop Around
Too many times, buyers in the used market are rushed to find a car. Maybe their old car just died and they need a replacement to get to work, or a new job has created a sudden need for a work truck. Some dealers will exploit a sense or urgency or anxiousness to get behind the wheel on the part of a buyer. So plan ahead and leave several weeks to shop around if possible. This also helps you amass valuable information on what the used car market in your area is like. That information will become your ammunition during the actual negotiation phase. If you still find yourself in a situation where you need a new ride right away, don't let on that you're in a bind. If the price isn't right, you might need to physically walk away, even if you really can't afford to. The sight of you leaving the lot will often tilt a negotiation in your favor, and if not, you can always come back later (even if it's 10 minutes later) with another offer.
2. Do an Attitude Check:
The negotiation can be the most critical, and for some the most harrowing phase of a used car purchase, especially if you're buying from a dealer. The key is not to be intimidated or pushed into a deal that's not just right for you. It's important to remember at all times that you're (forgive the pun) in the driver's seat. The deal doesn't happen until you sign on the dotted line, and you've got the leverage because you have the checkbook. That said, there's no need to be a jerk. Be polite, friendly, listen to what the salesperson has to offer and gently decline or ask questions without getting too upset or enthusiastic. Be calm and in control. By the same token, if you don't feel the salesperson you're negotiating with is respectful, or maybe you're just not comfortable with the person – walk away.