Everybody knows that the used car lot is the place people go to when they want to get a good car for a low price. There’s no denying that many of these cars are cheap and have a lot of miles on the clock, but what many people don’t realise is that they can negotiate these prices downwards further. This is something people forget as they believe that used car salespeople aren’t interested in bartering. If anything, they are the best people to barter with.
Make a Choice
The best way to negotiate a lower price is to be prepared. And the best way to be prepared is to know exactly which car and which model one wants to buy. One of the key techniques to negotiation is knowing exactly how much an individual wants to spend prior to entering talks. If a rough estimate hasn’t been decided on then it’s hard to know exactly what one is aiming for.
The last thing anyone wants is to be standing there listening to a salesperson drag you around the lot in a vain attempt to sell the most expensive car possible. The only way to avoid this is to make it clear that the visit isn’t merely about car shopping, it’s about price shopping. This will also plant the thought firmly in their mind that they need to give the individual the best deal possible or they will simply go elsewhere.
Don’t be Afraid to Walk
If the used van salesperson or used car salesperson just isn’t meeting the buyer on their budgetary demands then sometimes there’s no other option but to walk away. However, this is a tactic which has to be used carefully as experiences salespeople will often know whether a person is really intending on walking out or not. If they believe that it’s a bluff then they won’t budge either. Be assertive, if they don’t look like they are buying it then get up and literally walk away. If they are desperate then they will stop the person at the door.
Alternatively, move on to another model, preferably a cheaper model. The last thing a salesperson wants to do is potentially downgrade hundreds of pounds because they refused to budge.
Research is King
No salesperson, no matter how honest, is able to resist the opportunity to tell a little white lie or over-exaggerate something at some point during their careers. The sad thing is that this can often mean the difference between closing a sale or not. But they won’t try it if they know that the buyer has done their research.
Decide on the type of car and carry out research on the car and the prices associated with it. It’s even better if there’s another local used car dealer who is selling the car at a lower price. This will nearly always cause the salesperson to undercut his competition.
Ask About Payment Methods
Some dealers are willing to provide minor discounts if the car is paid for in a certain way. For example, some dealers may dislike being paid in cash because it means they have to deposit it in their bank accounts personally. If a buyer pays by card then that eliminates this job, and some dealers may provide discounts in exchange for this.
This method has been heavily tested with Ford dealers, for new and used ford cars and vans it is unkown as to how translatable it is to other dealers. Please give us your feedback!