What is the best way to negotiate the price down on a used car?

Question

I'm planning on buying a used car and I've done most of the research already. I know that the salesman is going to sneak his price in somehow, but I was thinking that if I could get him to lower the price on the car, I was thinking he would try to make his profit by cheating me in the finance department. I was planning on getting a private loan from my bank and not let him know so that I could spring it on the salesman once he's got the price lowered on the car. So I was asking for suggestions on the best way to get him to lower the price on the car itself

Answer 1

You really just have to be firm about it. Not mean, but firm. Let me give you an example. My grandfather wanted this car he found at a dealership, and he did all the research on it before going and talking to anyone about it. He looked up values on the car [including mileage and condition] from multiple sources. When he knew about how much the car SHOULD cost reasonably [about $25,000], he went in and talked to the dealer. The dealer tried to get him to pay $29,000. My grandfather told him he had done the research and talked to other dealerships and he refused to pay that much. The dealer still refused. Then my grandfather told the guy he had $25,000 cash waiting for him, should he change his mind, and he gave him his card and left. The next day the dealer called him and told him the car was detailed and ready for him to pick up that day if he wanted.

So here are some tips you should remember:

1. Give him a price. Don't wait for him to offer one. If you have done your research as you have said, you can set a decent price.
2. Don't back down. I've worked in dealerships before and I know they want to commission, but they also know they won't make ANY commission if they don't make any sales.
3. Make him understand that you mean business, and that you could easily take that business to another dealership. 9 times out of 10, if you give a reasonable offer, they won't let you go to another dealer.

Just be confident. And make sure the car is checked thoroughly [and have them give you the reports for the checks] before you buy it. They can sometimes screw you there. But if you get the reports and anything goes wrong that they said was checked, they are responsible.

Good luck!

Answer 2

There has been good advice given already but here are a few more tips:
Find EVERYTHING wrong with the car possible...rust spots, tire wear, etc. All of these can bring the price down and give you something to negotiate with.
Also make sure you run the price of the car on www.edmunds.com. You can put in details and they will give you a value for the car based on color, mileage, features, etc.
If you aren't too picky about color, go to a few dealerships and see what they will quote you. Also try checking out private sellers who might have it for cheaper.
When you do go talk to the seller, come in with an amount in mind, say $15,500. Tell them 14,500 and see how low they will go. When they say "I can't go lower than $17,000" then tell them, "I can go to $15,500. I want this car and I am willing to get it today." If they say too bad, then walk away. There are other cars out there and someone will be willing to meet your price.
Finally, walk into the dealership with the money available. You don't have to tell them but if you can get that money right away, once they hit the price you want you give it to them with no more time to go back on their word.

Answer 3

Why negotiate an overpriced vehicle when, no matter how good you are at haggling, you will more than likely still end up paying more than it's worth?

Obviously you already realize that a car is a serious investment, and it does take time and research. I myself wish it were as simple as running to the grocery store for a gallon of milk, but unfortunately it isn't so.

If a car is worth 4000 but someone is selling it for 7500, does it really make sense to spend time talking to this overpricing fool so as to wheel and deal them down to 5000, when even thou you might feel good, it still leaves you wondering, did you really get that good of a deal?

The first step is to find a car's actual value, what is it worth today in the condition it's in, considering year/make/model, mileage and accessories.

What I do is check out the cars for sale, and write down this Year make/model/condition/mileage and accessories (such as A/C radio etc but most of this I also try and just remember).

Then I go to Kelley Blue Book and get the actual value of the vehicle, by entering all of the known information starting here:
http://www.kbb.com/
(You might visit and browse for some time to get a good idea of how that system works, use your current car for test purposes).

It takes time, as a rule I have to look at anywhere from 10 to 20 cars before I even see one that's priced at or near Blue Book.
Once I find one that is correctly priced (meaning right at or very close to what Kelley Blue Book tells me the car is worth), all my problems are resolved:
I get my money, go up there to talk to the guy or lady, and so long everything checks out after a short test drive, I pay the entire amount up front, no haggling and no more bs.
Because at that point I got a fair deal.

Answer 4

lol let my wife do the talking for you lol,, she one will say i give you this an then he say well, i can go this , it a back an fort thing till she get them down to where she want,, i say go to a bank, an let them try