The good thing about deciding to buy a used car is that you can still negotiate the price. It could be lower than the initial amount stated by the dealer. If you know how to negotiate, you can get it at a more favorable price. If you’re looking at used cars Layton Utah, these tips are useful in lowering the cost.
It helps if you know the average price of car models out there. Compare the price of a new model and a used version. This information will help you determine if the initial offer is fair enough, or if it’s way higher than the average.
You should also understand the different features of the available options. You will know why one choice is more expensive than the other, even if they look the same. If you’re not into cars, you have more reasons to research before you meet with a used car dealer.
Find out how dealers make money
Dealers have different methods of earning money from a used car deal. Most people only think about the added amount on the original price of the used car. Therefore, most buyers only ask for a discount on the selling price.
Apart from the commission, dealers also make money on the backend. They could offer financing deals, extended warranties, and car accessories. If you can’t ask for a discount on the upfront cost, you should try to negotiate backend deals.
Look for cars that are at least two years old
A two-year-old car is perfect because it seems new and doesn’t have a lot of repair issues yet. At the same time, when it reaches its 2-year mark, the car depreciates by up to 55%. It’s the perfect period for buying a used car.
Read the consumer report
This report comes out every year. It contains information about the vehicle. You will have an idea about how the previous owner maintained it. You can also see if the car experienced a severe accident that damaged several parts. Understanding the reports will help you determine if the vehicle is still worth buying. If it is, you can at least point out the issues that will convince the dealer to lower the price.
Let the mechanic check the car
The external appearance of the car doesn’t indicate its overall quality. Some used cars look good, but they might have other issues. A mechanic can inspect every part and tell you if it’s worth buying. If not, you can ask for a discount or look for another option. Once the dealer disagrees with the suggestion of asking a mechanic to check the car, it’s a red flag. It means that there are serious issues that you shouldn’t know. Walk away from that deal even if it’s cheap.
You have to be smart if you want a lower price for a used car. Take your time to study the options and learn what to say to convince the dealer.