Is there a car that you are willing to buy and have your heart on but where negotiation is becoming a roadblock? Well, in such cases, there are various pro tips that can smoothen your act of dealing that we will be talking about in this post. Using these tips will help you in reaching exact used car valuation and will further assist in negotiating enhances the chances of grabbing a better deal. The market of second hand cars has evolved over the past few years and as per stats, sales of pre-owned car market is recorded at 4.4 million units in FY2020 as compared to 2.8 million units sold for new passenger vehicles in 2020. Now, let’s get started with how negotiation can save your money.
How to do an Effective Car Valuation?
Negotiating to get a sound deal on used cars is not as impossible as it seems. Rather, with a few tricks under your sleeve and backed by the skill of research tend to help both the parties to settle with an amicable deal. Having a set price after cars valuation with OBV before heading out for negotiation can bestow clarity as to what may sound like a fair deal. However, it is important to keep the expectations real while being ready for negotiations, and flexible if the car’s price is influenced by assessed by various angles.
How far you can go while negotiating for a used car?
As far as negotiation goes, there is no limit that one can negotiate to while buying a used car. Since every used car has its own standing as per factors associated to its life and health, the price can fall into different ranges. It is always advisable to check used car prices on online portals to learn the factors that can affect the overall pricing. These include the average selling price of similar cars, maintenance cycles, tyre conditions etc. Although these may seem like petty things their impact on the final bid on a used car can be major.
Also Read: Upcoming 7-Seater Family Cars
Negotiation Tips for Used Car Purchase:
- Get a vehicle fitness report: It is important to firm one’s standing on the negotiated price since it clears all accident history, odometer reading, outstanding liens, and service records along with automobile registration and branding history. Getting an independent inspection done from a licensed mechanic verifies what is being stated in the documents is true.
- Always consider the sales tax: While negotiating, it is always important to add on the tax levied on such purchases which can impact the price one is getting out of actual sales.
- Invest time in valuation: Yes, now you don’t need to ask many people how much they offer you for your used car. Now, with the availability of valuation tools, you can demand a fair price from buyers by knowing the fair market value of your second-hand car or any vehicle. Used car valuation and online research are significant to get a pre-owned car at a fair price. You can do the car valuation with OBV to understand the estimated fair market price before quoting any random value. This tool helps both buyers and sellers in getting the right market value. This can be done by drawing a comparison to what similar brands are being sold for.
- Set a final price: Much before starting the negotiation process, as a buyer or seller, it is important to know how far you can go and at what price you need to make or break a deal. Also, as a buyer of a preowned vehicle, you must set an upper limit of the price that want to pay for the vehicle in question.
- Maintain transparency: It is always the best way out to track a deal that is fair on both sides. Hiding crucial details related to the condition and fitness of a vehicle can act as a roadblock in the entire negotiation. Arguing or questioning each other later or involving the dealer won’t help in reaching a better deal.
- Communicate well: Sounding confident while negotiating is a plus but going too lower on a price of a used car can make you sound like an unsuitable buyer. Also, it is good to sound interested but don’t appear overenthusiastic about the deal.
- Be prepared to say ‘No’: Even though you like the vehicle in discussion a lot, still paying extra than it’s worth is not a wise decision. There are plenty of options waiting in the market with a vast scope of negotiation.
Used cars can only be worthy investments if the search and strategy are wise. A Well-thought and thoroughly compared choice brings absolute value for money. Must consider all the above-mentioned factors if you are thinking to purchase a second-hand car.