The process of buying a car is a fascinating and beneficial process. You can make it even better for yourself, though, by ensuring that you obtain the best deal possible on a new vehicle. The following are some tips for you that will help you to get a stellar deal on a used car that will please you:
1. Calculate Your Budget
The first thing you’ll need to do to ensure that your experience goes well is calculate your budget. How much money do you really have to spend on the vehicle? You can figure this out by taking your monthly earnings and subtracting your monthly expenses from them. That will give you a rough estimate of how much you have to spend each month on the car payments. The down payment should already be with you. Once you know your limits regarding what you can pay each month, it will be easier for you to negotiate for the used vehicle that you desire.
2. Check the Blue Book Value
Your pricing research is going to be the effort that gets you the best deal on a used vehicle. You should go ahead and check the Kelley Blue Book for the estimated value of the car that you are thinking about buying. The KBB is one of the most reliable and widely used pricing estimators. There’s a very easy-to-use tool that can help you to understand what you should expect to pay for the car when the negotiating phase is over with between you and the salesperson. Visiting the KBB will help you to avoid getting overcharged. Lack of knowledge is the deadliest part of the car search for a consumer. Make sure you don’t allow yourself to lack the knowledge and pay more than you should.
3. Research Recent Sales
The Kelley Blue Book is only part of the researching efforts that you should make before you buy a car. You should also check to see how recent sales of the same car have gone. Check on classified ad sites as well as sites like eBay and other locations where people can offer their cars for sale. You may even want to stop at some local dealerships just to see if there are any of those units for sale. Looking at completed listings and other live listings will give you a better idea of what’s what. That search will give you a better idea of the true price that the car goes for. You can use that as your foundation to get the right price for everything.
4. Window Shop
If you can learn the art of window shopping, you can be halfway toward getting yourself a new car via slight manipulation. Take your time and casually walk around the car like you’ve never been this liberated before in your life. Keep postponing the salesperson every time he offers assistance. Do that at least three times because it will give an impression that you don’t have a care in the world when it comes to time. You can window shop all day, and you can leave if you don’t find what you want. You can also use it as sort of a tool to prime the salespersons. Sometimes such people will feel intimidated if you act like you don’t care whether you close a deal or not. Try to have that effect on them, but be subtle about it.
5. Try a Buy-Here-Pay-Here Lot
A buy-here-pay-here arrangement is probably one that you can get a huge and spectacular deal on just by talking to the vehicle owner and letting him know your budget and your needs. A buy-here-pay-here deal is an arrangement where the vehicle owner allows you to make weekly or monthly payments to the lot for the car. No large bank or lending institution gets involved with such a deal. BHPH dealers are generally lenient about negotiating the price a little bit. They tend to work with their customers a little bit more than the average dealer because they are a smaller institution.
6. Let the Haggling Begin
Haggling is the act of going back and forth with the seller and trying to get the lowest price you can get for the vehicle. It’s up to you how long you want to haggle and how much effort you want to put into doing such a thing. Just know that it’s 100 percent acceptable for you to do that. Some customers haggle until they wear the salesperson out, and some give up after only a few tries. Your energy level will have a lot to do with your choice. You may be able to get yourself an amazing price on the car you love if you’re willing to take the extra step, however. Go for it. You just might win the price that you wanted from the beginning.
7. Test-Drive the Car for Issues
Test driving the car is essential to getting the best deal or a low price for the used vehicle. It’s essential for making the final decision, too. You want to know if the car is what you wanted. The test-drive will tell you that. It takes about 20 to 25 minutes. The salesperson goes with you on a journey around the neighborhood, and he lets you jump in the driver’s seat. You get to judge different things inside the vehicle such as the comfort level in the driver’s seat and the performance. Take your time during this part of the journey and make sure that you really like this car. If you have any concerns or questions regarding the features, the speed or anything else, now is your time to ask the salesperson about it and figure it out. He can make adjustments to the price to accommodate you.
8. Point out Quirks for a Deduction
Let the salesperson know if you find that there is anything wrong with the car that you noticed during your inspection or your test-drive. You can use the information to make one last suggested price pitch. If the problem is serious enough, you may be able to get a few hundred dollars deducted from the back end of the car’s price. Let the salesperson know how you feel. You don’t have to accept the car with issues or buy something that isn’t working for you the way you need it to operate. It’s your right to say no.
9. Don’t Be Afraid to Leave
If you are not happy with the price, and you’re tired of negotiating, take the opportunity to walk off. Don’t be afraid that the deal won’t be available for you later. By walking off, you’re letting the salespersons know that you know you have other options. It doesn’t always work to lower the price of the vehicle, but it may just work for you. There is no harm in trying. Just start packing up and then tell the salesperson to “forget it.” He may try to keep you by throwing a price reduction at you.
10. Shop at the End of the Month
Another little trick that you can use to get a lower price on the vehicle is to shop during “desperate times.” Try to visit the dealership a few days before the end of the month or the quarter. Many salespeople have quotas that they have to meet on sales, and they have to reach their goals by the first of the month or the first day of the new quarter. Visiting near the close of the month would be a brilliant move on your part because the salesperson may be a little bit more flexible for you at that time.
Bonus: Bring a Hefty Down Payment
Finally, be prepared when you visit by bringing a hefty down payment with you. The down payment will help you in three ways. First, it will let the sales rep know that you’re serious about buying. He’ll put more effort into the interaction once he knows that you really want to buy something. Another thing that it will do is make him a little more willing to come down for you on the price. It will drive down the overall price and your monthly payments down, too. Try to bring about 10 percent of the price that you have set aside for the car. For example, bring $1,500 if your budget for a vehicle is $15,000.
You should be able to obtain an amazing car with the information that you received today. You should end up with something that you really like that was within your price range for spending. Contact the local dealership today and take a ride in something that you adore.