How to Get the Best Price for a Used Car
Today, everyone tries to make their money stretch that little bit further. When it comes to cars, whatever you save on the upfront cost of the vehicle can then be put towards insurance, maintenance, taxes, and so on. If you want to make sure you get the best price on the market for your second-hand car, follow this step-by-step guide…
- Research the marketplace thoroughly
Most people are conditioned to shopping around for the best deal these days. Look specifically for vehicles of the same year, roughly the same mileage and in the same condition, comparing the prices of each across the board. Do more affluent areas charge higher prices? Do private dealers offer better rates than dealerships? Look for patterns and narrow down your options to a list of vehicles in your area that you want to check out.
- Understand the terminology
One way salespeople will try to bump up the price is to use complicated terminology; before you go anywhere near a dealership, make sure you understand all the abbreviations and specifications of the vehicle you’re buying, as well as the various options that particular dealership is offering for it. You don’t want to be caught out or carried away in their sales speech, and you can also find a handy jargon-buster here to help you.
- Take your top options with you
You shouldn’t visit a dealership or showroom and instantly start talking about all the other cars you’ve seen, but it’s important that you have that piece of paper or note on your phone with you, listing all the key figures you need to remember. Then, you can tell if the deal you’re being offered is a good one. Whether it’s the finance deals around, or your list of favorites, take these with you when you view a car.
- Visit dealerships at the best time
There are certain times of the year when you will be more likely to get a bargain. Towards the end of the year, people spend their money on Christmas presents while salesmen are looking to hit their end-of-year quota. At the very beginning of the year, less people buy cars because they’re still paying for December, and January sales are rife. During the summer months, there’s a lull as people go away on holiday, and on the last day of the month, you could get a salesman who needs his bonus.
- Don’t be afraid of haggling
If you know from your research that you can get a specific price, hold this firmly in your mind when talking to the salesperson. There’s no harm in haggling – in fact, they expect it! If you don’t like where it’s going, leave your contact details and walk away – they know where to find you. Go and view other vehicles, or just wait until you find the price you want. There’s no sense in paying more than you need to.
Do you have any other tips for making savings on used cars?