ALT-1 Negotiating Tips for Buying a used Car
In buying a used car there are just too many people looking to take your money! However, buying a used car can be relatively simple if you first cover your bases.
1. Research commonly found issues with the options you are looking at.
This you can do on your own. Look up consumer reviews online for the autos you are considering. These will provide you with an inside look at common problems with this particular car. Remember, look for issues that pop up commonly and look past the individual issues that don't seem to repeat themselves. Is one motor more suspect to certain problems than another? Does this particular model have any common electrical problems? Make a list of the common issues and if possible get estimated repair costs for these issues. If one cars common quirks carry a lower general cost to repair than another, you need to take this in to consideration.
Also, DON'T FORGET TO CHECK TIRE SIZES! This is one thing that can kill your pocketbook if you don't have the information. For example: A 2003 Ford Focus LX 4 door sedan will come stock with something like a 195/65/15.(generally $60 for a fair quality tire) A 2003 Ford Focus ZX3 will have a 205/55/16.(generally $120 for a fair quality tire) Thats a lot of extra cash that needs to be considered.
2. Have a mechanic look at the car before you buy it.
Nothing can be substituted for this. Any reputable dealer will allow this. Check local shops for a price on a complete inspection including; brakes, tires, exhaust, and electrical. Let them drive it and see how it feels. If your buying a used car, spend the extra $25-$50 to have someone you trust inspect it. This information will be far more valuable when it comes time to negotiate, as you will know the cost of possible upcoming repairs.
3. Remember there are 3 main "BLUE BOOKS" that will vary their values.
Kelly Blue Book - will generally provide the highest value of the three.
Edmund's - will generally be somewhere in the middle.
N.A.D.A. - will generally provide the lowest value.
Not that any of these are particularly correct or incorrect, check all three. If Kelly says $10,000 and N.A.D.A. says 7,000 then you have a range. Don't let someone convince you that since Kelly says 10,000 that's the price. Also, if trading in a vehicle, don't let them show you Kelly value for their car, and N.A.D.A. value for your trade. They will! Call them on it, and tell them you want apples to apples for your trade.
4. Never accept the dealers offer.
Remember if they are offering the price to you, they're comfortable with the mark up they are receiving. The rule in dealerships is that YOU must acccept their number, to make sure they feel like they've won. DON'T LET THIS HAPPEN! Make them uncomfortable selling the car to you. At that point you know you've won, and you'll feel it in your wallet as you drive away in your new car!
5. THE GOLDEN RULENEVER BUY A CAR ON THE FIRST DAY!Car sales is based on creating urgency. They will flex to your price, if your ready to buy today, right now. But no matter how appealing the deal is, DO NOT BUY A CAR ON THE FIRST DAY. I can't stress this enough. Your all excited, you found a car you like and the price is close and you just want to take it. That's when a salesperson earns their money, closing. How many times have you been told in your life " Don't let emotions control your decisions."?Well, this is the time to take mom's advice. I've been involved in the automotive industry from sales to service for some time, and emotions are what salespeople prey on. During this state of excitement you are much more susceptible to persuasion. Make them hold true to their offer for a day or two, if they refuse, you didn't want to find out what they were like after the sale anyway. This will give you time to sit down do what extra research is needed, and truly make an informed purchase.
If you hold true to these 5 rules you will greatly increase your success in purchasing used vehicles.
