How to Negotiate the Cheapest Price When Buying a Used Car

Looking to buy a Used Car and don’t want to be stung on the price?

Negotiating the price of a used car can be both a confronting and challenging experience. The art of mastering vehicle negotiating is knowledge. The more knowledgeable you are, the less likely you are to get stung paying over what a vehicle is worth.

Here are 5 ways you can negotiate a cheaper price when buying a Used Car.

1. Do your Research

The worst thing you can do when it comes to buying a used car is going in unprepared. The problem with going in unprepared is you set yourself up to overpay. How will you know if the advertised price is competitive? How would you know what car is best for you? You wouldn’t, you would need to take advice from the seller whose sole job is to sell you their car!

Before you begin looking for a car to buy it is so important that you research. Look at the different cars on the market, see what vehicle is right for you and most importantly understand industry standard pricing. The more research you do, the more prepared you are to negotiate with a seller.

A good tip: Save or screenshot several competitive prices of a vehicle that you are interested in. This way you can show the seller what others might be offering. This may force them into giving you a better deal which could ultimately save you thousands.

2. Trade In Your Current Vehicle

If you are looking to buy a used car from a dealership, one of the best ways you can negotiate a cheaper price is by trading in your current vehicle. Used cars are in massive demand in 2022, dealers are fighting to get their hands on new cars to sell. It has been found; the industry is so competitive at the moment that some dealers are paying much more than they use to just to get their hands on some new stock to sell!

This is where point number 1 is so important. If you are looking to trade in your vehicle, it is important you understand current industry standard pricing. Once you have a fair idea, you will be in a better position to negotiate the highest trade in price possible. The more a dealer gives you for your current car the less you will need to spend on your next.

Related Article: How to get the best trade in price for your car.

3. Timing is Everything!

When it comes to negotiating a used car price, timing is everything! To get the best price you need to pick your time carefully. Don’t rush out and try to make a deal ASAP. Take your time, show interest in the vehicle but don’t go overboard. Even if you are super excited about a car try not to show it. Sellers can play off your emotion, they will see your interest and know how desperately you want the vehicle and in turn will be reluctant to lower the price.

Pick your time wisely, wait and see what the dealer says, don’t be afraid to tell them you will keep looking. Another thing you need to factor in is the demand. Ask the seller the demand they have had for the vehicle, remember they will tell you it’s in massive demand, but you have to play it carefully. The less in demand a car is, the more likely a seller will be to lower the price.

4. Pay with Cash

As the saying goes cash is king! For many sellers offering a straight cash payment often results in a much cheaper price than advertised. Many sellers will be willing to slash a couple hundred if not thousand off a vehicle price if you pay cash. The reason for this is they don’t need to go through any of the hassles that come along with loans, finance companies etc.

This option is not for everyone, many people need access to finance. If you are not in the position for a full cash payment, ask the seller if what options they would accept. Ask them if they would discount the price for a larger upfront cash payment.

5. Shop around

The only way that you are going to be able to get the cheapest price for a used car is by shopping around. Look at what else is on the market, see what other sellers are offering. If you are interested in a car, show the seller other options that are out there. If there are cheaper options available, the seller may be willing to negotiate lower than them in order to get your money.

Before you look to buy a car, it is so important you have a look around, don’t go with the first thing see. Doing a quick shop around could save you thousands in the long run!

Final Word,

Negotiating the price of a used car can be a challenging experience. To negotiate the cheapest price, you need to be prepared, knowledgeable and most importantly confident. Don’t be afraid to walk away if the seller won’t give you what you want. There will be another vehicle for sale! The 5 tips mentioned above will significantly help you negotiate the cheapest price on your next used vehicle!

We hope you enjoyed reading this article. To read more articles like this, please visit the Shop for Cars latest news page here.

About Shop for Cars

Shop for Cars is Australia’s first car dealership-only online classified. Shop for Cars brings you the best quality new and used vehicles from trusted motor dealers Australia wide. Shop for Cars currently has over 12,500 cars listed for sale all from licensed Motor Vehicle Dealers ONLY.

Click here to begin your search.

DISCLAIMER: This is all based on opinion please research and consult with all relevant parties to make the best buying decision.