Negotiating a used car price is something of an art, and it's important to have confidence as you begin to bargain. Don't allow a salesperson to intimidate you into making a deal that you're not comfortable with. CPO vehicles are thoroughly inspected, any maintenance issues are addressed, and they are cosmetically sound — no shredded interiors, bashed fenders or missing trim. When talking to a dealer by their nature, certified cars are sold through dealers, not private individuals about a certified car, have them show you its inspection report, which will list all of the areas checked, whether or not there were any recalls on the model, and even details such as tire tread depth and the thickness of the brake pads.
CPO cars tend to have less wear and tear. Mercedes, for instance, will only certify cars six years old or less, with fewer than 75, miles. The German brand then adds a year and unlimited miles to whatever initial warranty is left, plus hour roadside assistance, trip interruption protection, and service loan cars. You pay extra for CPO cars, however.
It turns used-car-buying into a new-car-buying experience. Like new cars, CPO vehicles are best purchased at the end of the month, when dealers are looking to make quotas and are more receptive to haggling.
However, a used car sale is not generally cyclical this way, though timing can still be employed. For instance, if you live in an area that gets a lot of snow, you'll likely get a better deal on a convertible in the fall and winter months. Conversely, there is usually an uptick in all sales around April, when people blow their tax refunds, so avoid shopping then, if possible. Knowledge is your best resource for getting the best deal. Knowing what other cars like the one you are bargaining over sell for is key to talking down a price.
But what else? Here's where your bargaining skills come into play. Unlike a new car, which may have never been driven past the dealer's lot, a used car has been on the road and as a result, it has already lost some of its value.
When a lower purchase price is the goal, you don't want to go in with the wrong approach. Come off as too demanding, and the dealer may not be willing to make any concessions in your favor. Go in too soft, and they may see you as a pushover. When you sit down with the salesperson and present your offer, be firm but polite. Let them know that you've done your homework and you have an idea of what the car is worth.
Don't let them try to steer the conversation off-course; stay focused on the issue at hand. A salesperson may try to distract you by discussing financing, insurance, or extras like a maintenance plan; this is a trap you should be prepared to avoid. Take the opportunity to clearly make your case as to why the dealer should accept a lower price.
For example, if you've seen the same car sitting on the lot for weeks, remind the salesperson that cutting you a deal would help to free up space for another vehicle. If your inspection turned up something minor you'll need to have repaired, be sure to point that out. The goal here is to get the dealer to acknowledge anything that might justify accepting your offer.
If the salesperson tells you the dealer can't take anything less than sticker price, be ready to walk away. At this point, two things can happen: The salesperson will suddenly suggest that the two of you can reach an agreement on price or they will shake your hand and tell you to come back if you change your mind. If the salesperson chooses the former, be ready to make a counteroffer to any price that's suggested. The counteroffer may not be much lower than the sticker price, but it's an opening to further negotiations.
At this point, you can increase your own offer slightly, but remember to keep your absolute ceiling in sight. It may take some back and forth but eventually, you may be able to compromise on a price that's acceptable to both sides.
Negotiating is a fine art, and sometimes, the salesperson simply may not want to hear what you have to say. One ploy is to adopt hardball tactics to try and you wear you down. This is where the true test of your negotiating skills comes in. If your offer is refused point-blank, don't wear out your welcome.
Hand over your phone number and say that if they change their mind about making a sale, to give you a call. Then wait and see what happens. It's possible that, in a day or two, the dealer may call you to tell you they've reconsidered your offer. If not, that's a sign to move on to the next used car lot and begin the negotiations process again.
It can be time-consuming and tedious, but at the end of the day, you'll thank yourself if your negotiation efforts allow you to purchase the right car at the right price. If you know what you want and what it should cost, you are halfway there. Both dealers and private sellers have their advantages and disadvantages, but thoroughly inspect and test drive any car prior to purchase, and get the vehicle history report.
For a nearly new used car, CPO programs and leftover models are worth a look. Federal Trade Commission. Mercedes-Benz U. Car Insurance. Auto Loans. Your Privacy Rights. We left it out on purpose. It's such a critical step that it deserves its own article. Edmunds has a pricing tool that provides the framework of a smart opening offer.
Edmunds' TMV is the average price that consumers are currently paying for a certain type of vehicle. Car dealerships around the country report their actual selling prices to Edmunds, which then averages that raw data.
Note that you have to enter certain factors for an accurate report. For example, is the year we were looking at. The two vehicles we made offers on each had about 40, miles on them.
And we were shopping in the Phoenix area prices vary regionally. Here's a simple way to use a TMV Pricing Report like this to decide the amount of your opening offer. Notice that there are four different pricing categories on the page. Trade-In: The average amount dealers are offering consumers for their vehicles when they trade them in. Private Party: The amount you can expect to get for your car if you sell it to another individual. Not a member?
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