What follows are some underlying rules that we advise you supervene if you want to be thriving in buying a used car "cheap" and reducing your risk.
Rule #1
Value Used Cars
Do you Homework
a. Know the actual wholesale value of the car you want to buy.
b. Before you agree to buy a car, be sure to have it inspected by a certified mechanic.
Rule #2
Plan your buying strategy ahead of time.
Decide on your top price and then begin your negotiation at least 20% below what your willing to pay. (See "During Negotiation Tips" below.)
Rule #3
Have the Money in Hand
One of the keys to buying "cheap" lies in having the capability to "write a check" on the spot. "Cash in hand" all the time gets a seller's attention. If you're going to get a loan, get it first.
Rule #4
Be Flexible
While you may have a make, model, year and color in mind when you begin to shop, it's a good idea to remain flexible. Great deals don't all the time arrive exactly as you envisioned them
Rule #5
Be Patient
Often to get a truly great deal, you have to be patient. If you find yourself in a situation where you're more anxious to buy than the distributor is to sell, your chances of buying "cheap" are between slim and none. The key to finding a admittedly good deal is being in the right place at the right time and that requires both persistence and patience.
Rule #6
Be prepared to Walk from the Deal
If it doesn't feel right, if something seems amiss, if your "gut" seems to be telling you that your prospective purchase is a mistake . . . Walk away. You can all the time find an additional one car.
During the Negotiation - Tips
1. Make up your mind to be pleasant, amiable and non-combative. It is very hard for a sales someone to negotiate with a "nice person" who simply refuses to be "bumped."
2. Never let the distributor know exactly what you're thinking. The only time you want to appear to describe your true feelings is when it comes to pointing out flaws or problems in the seller's car.
3. Never describe what you're admittedly willing to pay. If you are on a dealer's lot, one of the first questions the sales someone will ask is "What are you finding to spend?" If you have not as yet settled on a car and are "just looking" you might find it to your benefit to give the sales someone a price range. However, offer a price range that is twenty to thirty percent higher than your actual target price. The imagine is because most any car the sales someone shows you is going to be priced about twenty to thirty percent above what the dealer is willing to take.
4. all the time be ready to "walk away." Be nice. Be polite. In fact, if you're up to it, feign some personal pain that you were unable to make the deal. As you walk away, walk slowly. Take your time getting off the lot. Chances are the sales someone will make one last attempt to reach an agreeable price.
Negotiate With a Smile
When it comes to dealership sales people, keep in mind that one of your most sufficient tactics is to all the time be pleasant and remain calm. There is nothing more difficult than dealing with a someone who cannot be intimidated, rushed, pushed or panicked. It's very hard to negotiate with nice population who simply refuse to negotiate.
Once you've made an offer you may hear, "your not being reasonable," or "you've got to meet me half way" of "my boss will never let the car go for that," just smile politely and say,. "You have my offer. I'd like to see you earn something for all the time you've spent with me. But, this is the limit of my budget."
Used Car Negotiating Techniques
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