One of the trickiest and most intimidating parts of purchasing a used vehicle is knowing how to negotiate used car prices properly. You’ll want to be sure you know exactly what you’re talking about and exactly how much you’re willing to pay before you head to the dealer.
Our team at Pecheles Automotive has put together this guide to negotiating the price of your used vehicle, so you can be confident in your ability to get the best price on your chosen model.
1. Do Your Research.
When negotiating the price of your used vehicle, it’s imperative that you have a good idea of what the car is worth. Compare the value listed on different online resources, and be sure that some of these are extremely local to Greenville, Washington, and New Bern, since your area can affect the price of a car.
Once you’ve chosen a specific vehicle for which you’ll be negotiating for a better price, check its history and mileage to see if these specs seem to match up to the price. Less mileage will make the vehicle more expensive, and vice versa.
2. More Research!
Don’t forget to check out reasonable financing rates and compare monthly payments, interest rates, etc. Even if you’re able to negotiate a good overall price for your vehicle, you could end up getting a bad interest rate on your loan if you need one, so make sure you’re informed.
If you’ll be trading in your current vehicle, do your research on its value, as well. Obviously, you’ll want to get as much money as you can for your trade-in, so make sure you know what it’s worth, and don’t settle for a number that seems too low; you can always sell your car elsewhere if you need to.
3. Make a Reasonable Offer.
If you go in with an initial offer that’s far lower than the actual value of the vehicle, the dealer won’t take you seriously. This is where all your research will come in handy, so make use of it! A good rule of thumb is to start with an offer that’s 15% below the dealer’s initial asking price. Stay cool and confident; you want to look like you know what you’re doing!
The dealer may make a counteroffer, and it’s up to you to decide if the offer is fair, and how far you’re willing to go to drive home your used car today. If the price gets too high for your liking, and you’re unable to settle on a more reasonable price, don’t be afraid to walk away.
4. Close the Deal.
Congratulations, you’ve reached an agreement with your dealer for a great price on a fabulous used vehicle! Now, you’ll decide whether you’ll finance your purchase with your dealer and if you’d like to add a warranty to your vehicle.
We hope this guide from Pecheles Automotive was helpful throughout your purchasing journey. Once you sign on the dotted line, you’ll be ready to drive your new purchase all around Greenville, Washington, and New Bern! Contact us with your inquiries today!