We all know that the seller starts with a higher than the expected sale price, with the default concept that any buyer will try to lower the price through a negotiation process. Negotiating is easier said than done and the last thing you want is to be taken for an imbecile when it comes to buying your next used car.
Here are some very simple and direct tips that will help you have the confidence to know how to negotiate with the seller the price of a used car:
1) Be Persistent: One of the key skills to underline the art of negotiation is persistence. Be persistent while the buyer negotiates between the sales price of the seller and its historical maximum. This also means, of course, that you must have a high or maximum amount that you are willing to spend not to exceed that certain amount and also to have a solid base to negotiate.
2) Know the personal value of the car: what we mean by knowing the personal value of the car is to determine, before negotiating with the seller, what is the value of the car for you. That way, he has a solid argument for the price he thinks he should pay for the car. Check KBB to find the current value of a car. The value of a car is different from its value, which changes with each buyer, in other words, knowing its value to you, the person in the market for a used car. A buyer should ask themselves exactly what the car means to them and what they are willing to pay for a particular car based on its age, make, model and condition.
3) Know the real value of the car: for me, negotiation is a form of argument in which you, the buyer, discuss your reason for paying the price with the seller’s reason for asking the price. Therefore, it is logical to think that the more data you know about your argument, the better your strategy will be and the more leverage you will have in the negotiations. To find the real value of a car, find out what Kelley’s blue book value is for the car you are looking at and then compare it with four or five other similar cars sold in the same area. If you find out that there are less expensive cars with comparable mileage and other specific details, then you have bargaining power to lower the price when considering your option to buy another car from a competing seller. Let the seller know that you know you are not the only one with a desirable vehicle for sale.
4) Be alert to defects: When I say defects, I mean the quality of used cars as it is now compared to what it was like when it was brand new. Carefully examine the shape and condition of used cars and be sure to use any “faults” found in the car, such as bumps, scratches and previous accidents in which the car was involved. Also, consider the condition of the tires and whether they should be replaced soon or not, along with the rust anywhere in or around the car, etc.
5) Updates are valuable: Negotiating or, rather, arguing politely, missing the “necessary” updates. We all have an idea of what a car “needs”, even if those needs are not critical to help a car work, but they add to the level of the buyer’s desire to drive it. Basically, what I’m saying is that with a used car you have the ability, or at least the opportunity, to negotiate the price simply, since the car “should” come equipped with certain features you may find important and possibly a decisive factor when buying. a car. The necessary updates may vary slightly depending on the person, but consider the following expected extras, such as the CD player or the iPod connector, as examples to lower the price if the vehicle does not have the basic elements of any vehicle of the same year I would have or should have.
6) Be firm but reasonable: I feel the need to remind potential buyers that when they negotiate anything, the seller has every right to ask as much or as little as they want. It is due to the seller’s prerogative over the price that helps if the buyer is reasonable with their negotiation, and realizes that the seller also has to make money with the sale. In general, a seller wants to make a sale. Therefore, the sale price is different from the sale price, which can be an undetermined cost and can be discussed during negotiations. This is true, unless you do not sell the used cars for quick cash, but to get a real profit.