Everyone wants a good deal in car buying.
But how? Here are 8 tips for you to follow:
1. Do your research
How much are vehicles selling similar to the one you are interested in? Postings and announcements can give you a good idea of the equipment and the price range to refine your search. Remember, however, that there is often a difference between the asking price and the actual price of the vehicle sold. Your expectations must be realistic.
2. Get more details on the vehicle
Several factors influence the price of a used vehicle , so you need to know everything about it. Abnormally high mileage and accident reports can decrease the value of the vehicle, while additions or replacements like winter tires or new brakes will increase it.
3. Take advantage of the road test
The test of a vehicle represents an excellent opportunity to learn more about its condition and its road behavior in addition to talking at length with the seller. Be prepared by having a list of questions and things to watch out for to make sure you don't forget anything. Road test is an art you can master .
4. Request a legit vehicle report
Approximately 30% of vehicles have already suffered an accident and their value is reduced. A damaged and repaired vehicle can still be a good deal, for example if you dream of a luxury model at a more affordable price. Knowing the damage history is crucial to knowing whether the vehicle has been repaired properly and whether it is still safe.
5. Insist on a pre-purchase inspection
Take the vehicle and its report to an experienced and trusted mechanic for a pre-purchase inspection. This is the only way to really ensure that the vehicle has been properly repaired, that it is safe and that parts will not be replaced very soon.
6. Know your limits
Start the negotiation knowing exactly how much you are willing to pay. Don't be afraid to back off if the seller seems to ignore your limit.
7. Don't forget the taxes
When you calculate the maximum amount you are willing to pay to buy a used vehicle, remember that you will also have to pay the applicable taxes. Check the laws in force in the province where you live to find out the actual price to pay.
8. Show Respect
Do not make an offer that is grossly lower than the asking price. If you find it too high, just keep looking. An unreasonable offer may insult the seller and the seller will not want to negotiate with you.
It's also intersting to get into the perspective of car sellers to see what they should do, and to better understand what's a fair deal for both parties.
Below are 7 things that can improve the seller's profile:
1. Prepare the vehicle for sale
A used vehicle looks better after a good wash, both outside and inside. Empty all the waste and your personal effects without forgetting the smallest compartment. Clean the carpets and vacuum between the seats. Ideally, your vehicle should have its original look and scent.
2. Display complete and detailed advertisements online
A large number of consumers for a used vehicle begin their search by consulting advertisements on the Internet.
Make sure yours contains all the information you want, including a legit vehicle report.
3. Ask for a realistic price
Unsurprisingly, price is often the first criterion for buyers of used vehicles. They may not know exactly what model they plan to acquire or where to find it, but they do know how much they are willing to pay. So make sure that the price you ask is reasonable, that is to say in the same range as comparable vehicles on the market, so as not to eliminate yourself from the race before you have had the chance to negotiate with potential buyers.
4. Be transparent to the buyer
Nowadays, people shopping for a used vehicle have more information than ever. Show them that you are a trustworthy seller by being honest and transparent when it comes to vehicle history – 60% are ready to buy a damaged vehicle if proven to have been successful repaired. In addition, keep all your work invoices in a safe place to show them to the buyer if necessary.
5. Know what to answer
All buyers are different and some may surprise you with questions about your vehicle . That said, there are points that keep coming up in the discussion and having good, clear answers to them can help.
6. Consider including your winter tires
Do you have a set of winter tires for your vehicle? If not, maybe a roof rack? This kind of added value will help you make your offer irresistible.
7. Know the sales process
Knowing different regulations on the sale of used cars and understanding the process will allow you to better demonstrate your experience as a salesperson.