How do I get the best deal on a used car?
There has been a massive increase in the popularity of pre-owned vehicles, particularly in light of the current chip shortage that means many new cars' production schedule has been heavily delayed. With the heightened demand for used cars has come price increases and scarcity, which begs the question, how do you ensure that you get the best possible deal on a pre-owned car? We have compiled a list of pointers that will help you out.
Find multiple examples
When you have found the vehicle type and price point that you are after, ensure that you have multiple examples lined up to test drive and inspect. This will allow you to have a better frame of reference as to what constitutes a good price and condition for a specific model. This will come in handy when negotiating with a dealership as you will have back-up options, should the dealer in question not want to negotiate.
Stick to your budget and requirements
It is easy to arrive at a dealership and find yourself looking at a more expensive and indeed, less practical car (or vice versa) than you had planned for. Sticking with your plan and budget will ensure that you focus on getting the deal done and more importantly, getting what you have planned for.
Buying privately
Since private sellers do not have a dealer markup, the cars are often cheaper, however, this comes with added risk, as recourse in the event of a faulty vehicle is more difficult than when purchasing from a dealer.
Take a friend or family member with you
When going to the dealership to view a car, take a friend or family member with you and have them ask you rhetorical questions about the car within earshot of the salesperson. These questions should be the sort that provides ammunition to you as a buyer when negotiating with the dealership such as '...the tyres look like they need to be replaced.' for example.
Check the roadworthy certificate carefully
A powerful negotiation tool is a roadworthy certificate/ vehicle inspection report, which provides all of the problems and potential issues with the vehicle. With this data, you, as a buyer can negotiate a better deal based on the information stipulated by the inspection sheet.
Be prepared to leave the dealership and even the deal
Always remember that it is in the salesperson and indeed, the dealer's best interest to have you come in, test drive and then make the deal on a car as it removes the potential doubt from a buyer's mind. Try and avoid this tactic by leaving the dealership after the test drive or being willing to abandon the deal altogether if you feel as though you need some time to make a decision and are being pressured into it.
