How to Negotiate the Purchase of a Used Car

Buying a used car can turn into a hassle. Who owned it before? Was it involved in an accident? Is this the actual mileage? With a few easy steps, you can be on your way to getting into the used car of your dreams and be able to sleep at night knowing you got a good deal and a great vehicle.

Instructions

Negotiating a Price you love for a Used Car

1

Information is your Samurai sword in the battle for negotiating a used car price. What are comparable vehicles selling for in your area? Has the vehicle ever been in an accident? How many of that specific make and model are available in your area at the moment? All of these things can be used to get the price down to where you want it to be.

2

Do your research. Use websites such as AutoTrader.com, Craigslist.com, Cars.com and CarMax.com to see what comparable cars are selling for in your area. You can use this information whether you decide to buy from a private party or from a dealership. If you can find similarly equipped vehicles for a few thousand dollars less, show these numbers to your prospective seller to make sure you aren't being overcharged.

3

CarFax, CarFax, CarFax. This is probably one of the most important things you can do now to ensure you aren't putting yourself into a lemon. Most dealerships will already have their own mechanics go over the vehicle and make sure there are no huge issues that haven't been addressed on the vehicle. If you see that the car had three or more owners in a short period of time, this might be a red flag that the car is problematic. You still may want to consider a multi-owner pre-owned vehicle, but you can use this to get the price down from your prospective seller. Also, if you are buying from a reputable dealership, they should have no problem providing you with a free CarFax report.

4

Get pre-approved from your bank or an outside lender. This can often help you save on finance charges if you plan on financing the vehicle over a few years: dealerships love to make some extra cash charging you higher interests rates. It's always good to ask the dealerships what rates they can offer you as well as get your pre-approval, so you will have more options.