Used Car Buying Negotiating Tips for 2023

Buying a used car can be a great way to save money, but it’s important to be prepared to negotiate a fair price. With a little research and preparation, you can get the best possible deal on your next used car. Here are some tips to help you negotiate like a pro in 2023:

Do Your Homework

Before you even step foot in a dealership, it’s crucial to arm yourself with knowledge.

• Research the car’s market value: Websites like Kelley Blue Book, Edmunds, and NADA Guides provide estimated values for used cars based on make, model, year, mileage, and condition. This gives you a baseline for negotiations.
• Check for recalls and safety ratings: Safety is paramount. Websites like the National Highway Traffic Safety Administration (NHTSA) offer information on recalls and safety ratings.
• Understand financing options: If you’re not paying cash, pre-approval from your bank or credit union can give you leverage at the dealership.

Inspect the Car Thoroughly

Never skip a thorough inspection, even if the car looks pristine.

• Examine the exterior: Look for scratches, dents, rust, and inconsistencies in paint. Check all lights and signals.
• Inspect the interior: Scrutinize the seats, carpets, dashboard, and headliner for wear and tear.
• Pop the hood: Look for leaks, corrosion, and check fluid levels. If you’re not mechanically inclined, consider a pre-purchase inspection from a trusted mechanic.
• Take a test drive: This is crucial. Pay attention to how the car handles, accelerates, brakes, and listen for unusual noises.

Negotiate with Confidence

Remember, knowledge is power.

• Start low but be reasonable: Base your initial offer on your research and the car’s condition. Don’t start too low and insult the seller.
• Focus on the car’s value, not your monthly payment: Dealerships may try to steer the conversation towards monthly payments to mask a higher overall price.
• Don’t be afraid to walk away: If you’re not comfortable with the price or the dealer’s approach, walking away can sometimes lead to a better offer.
• Negotiate extras at the end: Once you’ve settled on the car’s price, negotiate for extras like floor mats, a second key, or a warranty.

Be Wary of Common Tactics

Dealerships sometimes use tactics to increase their profits.

• “This car won’t last long” pressure: Don’t rush into a decision.
• “Bait and switch” advertising: They advertise a low price to get you in the door, then claim it’s unavailable.
• Hidden fees: Always ask for a detailed breakdown of all fees and charges.

Finalizing the Deal

• Read everything carefully: Scrutinize the contract thoroughly before signing.
• Get everything in writing: Ensure all agreed-upon terms, including the purchase price, warranty details, and any extras, are clearly stated in the contract.

Buying a used car should be a positive experience. By doing your research, being prepared, and negotiating confidently, you can drive away with a great deal on a reliable car.