Learning About The Benefits Of Working With Auto Dealers

3 Crucial Tips For Getting The Best Deal On A Used Car

25 April 2017

Nino Clement

If your vehicles are usually a few years old and owned by someone before you, you are already aware of the financial benefits associated with buying a used car. However, it only makes sense that you should maximize those benefits by getting the best price you can on that car, without running the risk of purchasing it from an individual who may not have your best interests in mind. Therefore, it's a good idea to be aware of the following advice prior to your next visit to the used car lot.

#1-Get Current Details About Specific Vehicles From Different Lots In Writing

In recent years, the internet has made it easy for some car lots to describe a specific car at a rock-bottom price or with an incredibly low interest rate, but to attach limitations to its sale that essentially prevent them from needing to sell more than one or two with those advantages. Since the other car lots in the area are likely to be aware of that unfortunate habit, customers often find that their ability to negotiate deals at other lots are compromised when using those especially appealing vehicles as reference points.

Therefore, it's frequently a better idea to visit multiple used car lots on the same day, getting offers in writing of unadvertised cars and any applicable time-sensitive pricing. Those figures are often able to motivate used car salespersons and their managers at other lots into making good deals because they know what they are working against. In addition, by taking that paperwork to other lots, you are indicating that you are willing to walk away from a good deal and still want a new car, which can also make you a more attractive buyer. 

#2-Know What You Want To Buy

While it is obvious that you shouldn't walk onto a used car lot and drive off in the first shiny car they will sell you, it is not always clear how beneficial it can be to thoroughly research each point of the transaction before committing to it. Specifically, you should take the time to narrow your choices down to as few used cars as possible and then know as much as you can about the cars in question. Mechanical issues, expected compliance with manufacturer's recommendations for maintenance and similar issues are important for you to research and to consider while shopping.

For instance, if you are in the market for a used van for your growing family, you should be aware that in 2016, approximately 744,000 Toyota Siennas produced between 2011 and 2016 were recalled due to issues with the latch on the sliding door. The same is true if you are purchasing a used truck, as Isuzu recently issued a recall of a few of their trucks with diesel engines made between 2015 and 2017. Knowing whether the car you are interested in purchasing was impacted by a recall and, if so, how the modifications might affect its current or future value puts you in a unique bargaining position.

#3-Know What You Are Bringing To The Deal

One unfortunate issue that many people are unaware of relates to the vast amount of information that can be accessed with your driver's license and social security numbers. If you have fantastic credit or are paying in full for your used car without the need for financing, your situation is often unique and can often change your negotiation needs.

Conversely, if you need to finance a car without much of a down payment or if you have credit issues that are likely to hold you back, be clear as to the nature of those credit issues. Knowing your credit score on the day of your visit with all of the credit scoring agencies can also be helpful at that juncture.

In conclusion, getting the best deal on a used car isn't always as easy as it sounds and the standard tricks that everyone knows are rarely as helpful as you might hope. As a result, you're likely to find the tips provided above that are not as well-known as their predecessors to be quite useful as you negotiate the cost and terms of your new-to-you car.

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