When it comes to buying a used car, everyone wants the best deal they can get! We're here to spill the beans on how to get the best deal on your used vehicle!
Do Your Research: The first step to negotiating the best deal when buying a used car is to understand what you're buying. Always do your research and understand the market conditions first. Depending on how you approach the sale, you may be able to walk away with a better deal and a bigger smile on your face. Before you even settle on a vehicle, have a look at Kijiji, Facebook Marketplace, AutoTrader and other popular buy & sell marketplaces to get a feel for what the vehicle you're looking at typically lists for. Pay attention to the year, milage, condition and any other factors that might influence price. Remember that when you buy a vehicle from House of Cars, it comes fully inspected by certified mechanics and a complementary CarProof Report.
Know your trade-in value: If you currently have a vehicle you're looking to sell, do your research on what it's worth. Dealerships will often offer you lower than market value because they'll have to recondition the vehicle, detail it, market it, photograph it and more. There's a lot that goes into selling a car. If you want to get more money for your vehicle, consider consigning it with House of Cars' Park & Sell program instead of trading it in. Getting more money for the car you're selling is the key to getting a better deal on the vehicle you want to buy.
Cash Or Credit: Did you know that financing a vehicle will allow you to explore additional repayment options that cash buyers don't have access to? When you finance a vehicle, dealerships can be more flexible with their vehicle sale price and can offer customers 3-months or 6-months of no payments. This helps customers keep more month in their pockets! Financing a vehicle also allows customers to consolidate their other loans, like high-interest credit card debt, at a lower interest rate, which can't be done if you're a cash buyer!
Be flexible in your thinking: Don't enter a dealership and be fixated on paying cash. You can negotiate the price of the vehicle, the trade-in value of your current car and the financing options all at once to get the best overall deal.
Don't get emotional: Stay calm and collected during the negotiation process and focus on what works best for your needs. Always use logic when buying a car. The sales and finance departments have a lot of options for you to explore. Pick the one that makes the most sense for you!
Know the dealer's bottom line: When you're working with a dealerships, understand that they have a bottom line that they can't go below. Some cars have some wiggle room in terms of price, but you'll always get a better deal when you're financing. Ask your salesperson if there's anything they can throw in, like tires, a remote starter, cash back, etc. Some salespeople even offer their own incentives, so be sure to ask!
After you've considered all this, you can make an offer on the car of your dreams!
