When a person is in the market for a used vehicle in the Philadelphia, Doylestown, or Flemington area and they’re looking for a particular vehicle at Fred Beans Used, it’s going to be important to understand why negotiating the price of a used car is so important.
While there are plenty of pieces of advice on how to negotiate a good deal—and opinions certainly vary a great deal—one thing is clear: The negotiation on a price can be helped or hindered by getting started in the right place.
Do Your Research Before Negotiating a Price
Getting to a starting point in terms of a suggested price for a vehicle can make or break the negotiation process almost immediately after it has begun. To do this, the person will need to be well-informed of the value of the vehicle. It’s important to take note of the condition as this can decrease the vehicle’s value.
For example, if the value of the vehicle is $15,000, but that value is contingent upon the vehicle being in excellent condition yet the vehicle is in subpar condition, then the starting point for negotiations is going to be a bit lower than $15,000.
On top of getting a good starting price, the best way of negotiating the price of a used car is to start out at a lower price. However, a person doesn’t want to go too low. If a potential buyer starts out the price at a number that is far lower than reasonable value, this could give the impression that they don’t understand the true value of the vehicle or that they’re not really interested in buying the car.
Choosing a price that is slightly below the listed price is a good place to start. This gives the customer a bit of flexibility and as negotiations continue, they may well find that they are able to purchase the vehicle at or even under their maximum budget. Still, keep in mind that just because you aim for a lower price doesn’t mean that’s how much the vehicle is worth. And so, don’t be surprised if the dealership has a firm price on a used vehicle.
Test Out Your New Skills
A place like Fred Beans has a wide range of vehicles to choose from. In some cases, with the flexible prices of these vehicles, you may be able to buy a bit more of a car than you thought possible. However, in order to do this, the right negotiation tactics are going to have to be used to ensure that the price you pay for a vehicle is a fair price and not a penny over its estimated value.
To get started, check out our selection of used vehicles and schedule a test drive.