In this world, there are two types of buyers — the ones who pay full price and the ones who don’t. If you’re generous enough to pay the asking price for a used car, then that’s good. However, saving a few hundred or a thousand dollars is even better.
But how can you get those savings? Bargaining. In this article, we will give you tips on how to bargain your way to get that dream car of yours and save some money in the process; even if it’s your first time. Also, if you’re wondering about Honda used car dealerships in Liverpool, NY., then visit the website shophondacity.com.
Here are 6 bargaining tips for you:
1. Do your research
Just like any other buying decision, you should always take your time to do some research, especially when a major purchasing decision is involved. And in the used car buying business, knowledge is power.
Do some research on the particular car you want and know its current market value. Before you walk into the dealership’s door, find out as much information as you can, and use that knowledge to your advantage. However, you must also be flexible with your choices, as buying a used car will limit your options on:
● Year models
● Color availability
2. Window shop dealerships
Window shop and get price quotes on several dealerships and nearby sellers, and create a short list of each car’s details and prices. Having competitive examples will help you determine a suitable price for the car you want.
Additionally, when you ask for quotations, be transparent that you’re still considering other dealers. This can provide you with leverage on the negotiation, as dealerships tend to compete with other dealers as well.
3. Inspect the car
Unless you’re buying a certified used car, you should ask your dealer if you can have a mechanic come over to inspect the car thoroughly, especially when it’s out of warranty. You should also check everything, especially those smaller features that often go unnoticed such as:
● Exterior lights
● Folding seats
● USB ports
● Power switches.
Also look for signs of:
● Wear and tear
● Wheel blemishes
If there are any issues found, then use these issues as leverage.
Having a mechanic over to inspect a car you want, can help you make sure that the vehicle is in good order. Although it can cost you a couple of dollars, it can also save you from expensive maintenance and repair costs.
4. Avoid dirty sales tactics
If you think that the dealer is uncooperative in the negotiation, then you should be more than willing to walk away. If a salesman forces you into something you don’t like, or if the deal is not going your way, then you must walk away. If they don’t want the car to be sold, then you shouldn’t waste your time bargaining for it.
Don’t be under the impression that today-only deals can save you money, as these are often used by salesmen to pressure you to get that deal immediately. Here are some sales tactics you should avoid:
● The hard sell – A method which a salesman will aggressively, forcefully, and directly force you to buy a car.
● Bait-and-switch – This sales tactic is illegal. However, some dealers still get away with it. This tactic happens when a dealer falsely advertises that they have a $10,000 truck that they don’t actually have, and offers a more expensive one priced at $15,000 instead.
5. Get a pre-approved loan
If you’re not planning to pay cash, then having a pre-approved loan will be a good idea. Dealerships usually advertise low-interest rates, but in most cases, only top credit customers will get them. This is where a pre-approved loan comes in handy, as dealerships will try to beat or match your pre-approved rates. Here are some tips to get the lowest possible interest rates:
● If you lack a credit history, enlisting a cosigner will help.
● Secure a short term loan and make a sizable down payment.
● Make sure that your credit is in good standing order.
6. Turn down add-ons
If you’re getting a used car from a dealership, then you should turn down add-ons such as detailing and rustproofing. These add-ons can quickly add up and get expensive. Although rustproofing a used car is a must, you’d probably get it cheaper elsewhere. Here are some add-ons you should never buy from dealerships:
● Window etching
● Key protection
● Wheel and tire packages
May these bargaining tips help you get the car you always wanted while saving some money. Negotiating a deal on a used car doesn’t need to be hard or stressful, keep these tips in mind, and always remember to treat every salesperson nicely. At the end of the day, they are still the one holding the keys to your dream car.