How to get the best used car prices

Tips to help you get the used car you want at the price you want to pay. Ideas on negotiating, sellers and finding the right car.

A new car can depreciate thousands the moment you drive it off a dealer’s lot. Purchasing a used car can be a great way to save money with a vehicle purchase while still getting the vehicle that you’ve been hoping for. In order to ensure you get the best deal possible for your “new” used car try these simple steps:

Search several dealers: Don’t just go to one dealer to look for your car, try several in your area. If you are looking for a Jeep for example check at a few Jeep dealers in your town or neighboring towns, as well as Carmax or a similar used car only dealer. You may want to take a look through your phone book and call around to dealers first to see if they have the kind of car you are searching for. The more places you look the better idea you will have of what a fair price for the vehicle is.

Know the blue book value of the car: Know what the car is worth, and what the car will likely be worth in the future. You don’t want to spend $10,000 on a car that’s only worth $7500. Knowing the blue book value can be a great bargaining tool, and can help you make sure you aren’t overpaying for a vehicle.

Stay strong: When you visit a dealer they are going to want you to make a purchase before you leave the lot that same day. Unless you are sure that you are getting the best deal possible, don’t fall into this trap. When you start to leave a lot a dealer is also often willing to give you a much better deal. The dealer wants to sell you the car, if you’re leaving they see that as a lost sale, they will do whatever they can to make you stay and make you buy.

Don’t be fooled by used car salesmen: I once went looking at used cars and the salesman said in an excited tone “Look at this AM/FM radio that’s AMAZING” In an age where CD players are almost a standard in vehicles, an AM/FM radio is not an amazing feature. Radios have being put in cars for decades. A dealer is going to try and make you think this used car is the best thing on the planet. Just because they’re excited about it doesn’t mean you have to be.

Get a carfax vehicle report: Before purchasing a used vehicle make sure you get a carfax vehicle report. Often a dealer will be willing to purchase this report for you. A car fax report lets you know what accidents (if any) the car has been in, as well as supplies additional information on the cars history. Occasionally dealers will rebuild a car that has been totaled and make it seem great on the lot, but the car will have numerous problems shortly after your purchase. Other dealers (or personal sellers) may roll back the odometer to make it seem like the car has fewer miles. This practice is illegal. A carfax report will help you find out those things before you buy. Make sure you know all about the vehicles history before making a purchase.

Look in your local paper: Individuals sell their cars all the time in the paper. By purchasing a car out of the paper you get to cut out the middle man (the dealer), and potentially can save hundreds if not thousands of dollars. If you plan of purchasing a vehicle from an individual make sure you get the car checked out by a mechanic beforehand to ensure the car doesn’t have any major faults. Know why the individual is looking to get rid of the vehicle, and what kind of service it has needed through the years. Ask if they have kept records of oil changes and general service. Seeing these records can ensure that the vehicle has been adequately cared for while it has been with this owner.

Negotiate: The first price someone quotes you for a vehicle is more than likely not the lowest they are willing to let the car sell for. Talk the dealer down, mention the year of the car, how long the car has been at the lot, any dents, dings or scratches. Negotiations are a time to get nit picky amount the vehicle. You may not care at all that there’s a scratch on the hood, but if you actually wanted to get the scratch fixed it may cost you several hundred dollars. Ask for the cost of potential repairs to be taken off the price of the car. Look for stains in the interior of the vehicle, anything that makes this car seem a little less than perfect, and then ask for a discount. The same is true for purchasing from individual’s, an asking price is just that, an asking price. The dealer, or an individual for that matter is looking to get rid of this vehicle, they might be willing to accept the offer you make.

When purchasing a used car it is important to simply be an informed buyer. Know what the car is worth, and then negotiate with the dealer to get the car at the price you want to pay.