How to Negotiate the Price of a Used Car
We have heard several stories of terror and worry when it comes to negotiations. Of course, some people are naturally skilled when it comes to assertiveness and persuasion. However, this doesn't mean that you get baited into a losing end of a deal.
When shopping around for a used car for sale, it is essential to know the art of negotiation. This will not only save you a few thousands from the transaction but assures you that you're also getting the best out of it.
To guide you with this matter, Philkotse.com compiled a list of tips and tricks you can follow when you're negotiating with the price of a second-hand vehicle.
1. Shop for cars that are at least 2 years old
In actuality, cars that are used for 2 years looks close to brand new ones that are being showcased. This, of course, will depend on the usage of the previous owner.
In terms of engine performance, 2-year cars don't have a lot of issues in them. But, what more important is the fact that the sale price of vehicles dramatically drops to 45-55% after two years. Therefore, consider getting a bargain before driving home a second hand Honda Accord
2. Research for prevailing market price
They say a negotiator that has no information up his sleeve will eventually end up negotiating with nothing.
Before walking into that dealership doors, make sure you have all the information you need about the car you want.
It would help if you browse for prevailing market prices of the vehicles online or taking a trip to several dealerships just to get a glimpse.
3. Assessing financing rates
Ideally, it is best to purchase a Honda car for sale with your own savings to avoid obligations piling up. For some, this is not a viable case. This is where you may be tempted to avail of an auto financing. If you look at it for a short-term gain, this may sound ideal. However, it will bleed every peso out of your pockets because of the added interests.
To avoid this, you can look around or contact your bank for auto loans that they offer. Also, have bank personnel explain to you the implications of various interest rates and the period of payment. In this way, you can objectively decide which option is the most practical choice when purchasing the Honda Accord.
4. Making a realistic offer
After researching, evaluating and analyzing current market prices and the budget you have in mind. Walk to the dealership with a focused and firm mindset, make an offer to a salesman talking with you regarding the Honda Accord 2011 you are interested in.
Naturally, the salesman will offer a price higher than what you have in mind but continue sticking with yours. If he doesn't budge, tell him that you have an appointment elsewhere and walk away.
5. Say no to dealer add-ons.
If the salesman agrees with your offer, chances are, he'll persuade you to spend money on some dealership add-ons. These may include extended warranties, detailing, and rustproofing. Attractive as it may seem, say no to all of these. If you need the mentioned add-ons, you can get them somewhere else and all for an affordable price.
6. Have the courage to walk away
If the negotiations don't end well as expected, turn your back and walk out of the dealership.
Remember, there are extensive offerings of pre-owned car available that may prove to be a greater alternative than what you have in mind.