Top 2 tips for negotiating with a used car dealer
Posted on Monday, July 30, 2012 at 5:11:48 PM
Often, buying a used car is the economical choice for many Americans. The rapid depreciation in an auto’s value as soon as it drives off the lot makes purchasing a used car the better buy. Consider using auto financing to buy a used vehicle and rake in the financial benefits of an affordable auto.
To better ensure you are getting the best price, consider these negotiating tips:
1. Know the value of your trade in vehicle. Being able to trade a vehicle in for a percentage off the cost of a younger used auto is a great financial boon to many consumers. However, to ensure you get the best deal possible, make sure to research the value of the vehicle.
"If you have a vehicle that you are trading negotiate the price of the vehicle you are looking to purchase first, and then bring up the trade. Have a book out value (NADA/ Kelly Blue Book) of your trade in vehicle and give them the number you want for it. Be prepared to walk if the dealer does not meet. A dealer will usually compromise or meet it if the option is a customer walking out the door," said auto financing expert Christine Dikdan from Home Loan Investment Bank.
2. Research the purchase vehicle. Avoid overpaying for a vehicle by researching the make and model of a car you are considering purchasing. This will also help you negotiate the cost of the vehicle with the dealer so you can try to get it at a decreased price.