A new car’s value depreciates by 10 percent once it leaves the lot, by 20 percent within a year, and by 60 percent just after three years. This may be bad news among new car buyers, but this presents an opportunity for used car buyers to get a great deal out of a high-quality car.
There are a lot of advantages when you buy a used car, aside from getting it for less the amount you have to pay if you bought it brand new. You’ll have more choices with over 40 million used vehicles changing hands annually, and you’re likely to acquire one that could still offer years of good service (or even one that’s still under warranty). Getting a good deal on used cars, however, requires effort on your part in doing your homework, along with the right negotiating skills.
Doing your Homework
Before browsing among used cars for sale, you must first know everything you can about the make and model you’re interested in and how much is it going for in your area. There are a lot of online resources you can check out for pricing information. You can also check out automotive magazines publishing comprehensive reviews of cars you may be interested in.
Now that you have a particular model in mind, it’s time to go to the nearest dealer and check out the car in person. Keep in mind, however, not to fall in love with the car at first sight and let sales talk cloud your judgment, as you may end up paying more than you ought to have. If you’ve done your homework, you’ll already have a reasonable price in mind.
Some car buyers might be hesitant to haggle with their dealers, which might be the biggest mistake they’ll make. Don’t be afraid to discuss these details with your dealer, and remember to negotiate one thing at a time. Begin with the actual price of the vehicle you plan on buying, then go on discussing financing or trade-in terms separately. A great place to start is to name a price that’s 15 to 20 percent lower than the figure you got from your homework, and then move your offer in small amounts as needed.
Buying used cars can be a difficult experience, but you can get the best deal out of them once you’re able to apply these tips. You can get yourself a great deal for certified used cars from dealers like Vestal Buick GMC of Greensboro, NC.
How To Get A Good Deal On A Used Car, Investopedia
Negotiate a car effectively, Consumer Reports
Four tips to get the best deal on a car, CNBC