When it comes to investments, used cars are probably not up there as being the wisest choice. Unless you purchase a classic or supercar, the second you drive the vehicle out of the showroom it loses value. The thing is, we don’t buy cars with the intention of making a profit when we sell them (unless you’re a car salesman).
We buy cars because they’re practical, they’re necessary in many cases, and they provide us with fun. Buying a used car is always a risk, even if you get the best car finance deal possible. To help ensure you get the best price possible, and the best car finance deal possible, here are some tips for buying a used car.
Don’t ask for their best price
A lot of people when attempting to haggle over a used car, will ask the salesman what his best price is for the vehicle. Basically, they’re asking him for the lowest price he would sell it to them. The thing is however, is that by doing that you are putting the salesman in control.
He can come up with any figure he likes, and obviously he’s going to overinflate the price because he wants to make as much commission as possible. Instead, be open and honest and tell him how much you are willing to spend. Be firm, stand your ground, and don’t get into a haggling war. If the salesman is convinced that you are not open to negotiate the price, there’s a good chance you’ll get it for what you want to pay, and on your terms.
Consider car finance
In an ideal world, when we buy a used car we’d always pay cash for it. The reality is that if you are buying from a car dealership, the car will cost thousands of Euros, so monthly car finance payments may be your only option. With finance you do pay slightly more than the vehicle is currently valued at, but it makes your monthly payments more manageable. Always shop around for car finance, as you may get some great deals.
Be friendly and polite
A lot of people like to think that they’re a big-time business tycoon in the board room, and so when they enter into negotiations over a used car they’re often stern-faced, abrupt, and sometimes rude. If you’re rude to a salesperson, or any person that you’re doing business with for that matter, they aren’t going to go out of their way to help get you the best price possible. Be polite, smile, and be friendly. You never know, it may help knock a few hundred Euros from the price that you pay.
Don’t be sucked in by the hard sell
After you negotiate a deal on a used car, the next thing you need to prepare yourself for is the onslaught of upselling the salesperson is about to hurl your way. The salespeople make good commission on things like: paint protection, upholstery protection, gap insurance, and so on, and they will do their best to convince you that you need all of these things. Stand your ground and be firm with the fact that, almost certainly, you don’t need these things.