Are you ready to buy a new-to-you car? Used car shopping can be daunting overwhelming. But with patience and a little homework, with Cash Cars Buyer it is possible to find a great vehicle in your price range.
Whether you want to buy junk cars or invest in a certified pre-owned vehicle, research is key. And making an effort to shop around and compare offers is worth the time. The knowledge will pay off when it’s time to negotiate.
A used car purchase is all about balancing quality and price. Your goal is to get yourself the best deal possible on a car you’ll love. Here are some tips to consider when shopping for your next vehicle.
1. Secure Financing
A wise first step in car shopping is getting your financing in place. This will allow you to plan your budget better. You will also be able to focus on getting a great price. And having a loan pre-approved can give yourself some negotiating power.
Be aware of your budget. Once you know the amount of your pre-approval, you can start searching in your specific price range. Aim for a payment that is ten percent of your gross monthly income or lower.
Take your time and shop around for the best loan rates and terms. A better loan deal will save you big bucks long term. Fortunately, there’s no shortage of loan options. And you can even compare options from multiple lenders quickly and conveniently online.
Do you have a good relationship with your bank or credit union? Then that’s the best place to start applying for financing. You’re more likely to be approved if you have a strong history with them. And loyal customers are often rewarded with lower interest rates.
Having your financing in place also gives you power in negotiating. Car sellers are more likely to shave more off the price if they know you are pre-approved. You can also work with the financing department at the dealership to see if they can give you a lower interest rate.
2. Know the Value
Do your homework on the value of your potential purchases. Cars depreciate quickly, and you don’t want to initially overpay. Knowing what a specific vehicle is worth is helpful in negotiating.
Check the blue book value of any car you are interested in. This is a quick and easy way to find out if the asking price is fair. It factors in the mileage and condition to give you an accurate value. It also considers the price impact of the car being purchased from a dealer or a private seller.
Keep in mind the investment the seller has had to make in the vehicle. Has a private seller had the car recently detailed? Did the dealership make the investment of certifying a preowned vehicle? These are things that add value and will also increase the price.
3. Shop Around and Compare Offers
Hurried excitement and impulse buying could cause you to miss out on a great deal. Take your time to visit multiple dealerships and websites before making any purchase decisions. And don’t stop at asking for just one offer on each vehicle.
The goal of used car shopping is finding the perfect vehicle at an awesome price. It can take some time, so be patient and shop around. It will also give you a better idea of what similar cars are priced at. And you can compare the benefits of different sellers.
Once you find a car you love, ask for the seller’s best price. If you have found the same year ad model elsewhere, compare the offers. And don’t be shy about sharing a better offer with a salesperson. Their competition to get your business may get you a lower price.
4. Check Out the History
An unbelievable deal might be too good to be true. Make sure you are getting what you’re paying for. Check out the history and condition of the vehicle to make sure the quality matches the price.
The cost of pulling a vehicle history report is worth it to avoid unknowingly purchasing a damaged vehicle. Prior incidents can leave lasting effects on a car. You’ll want to know about any past accidents and repairs. The report will tell you about those details as well as the value of the vehicle.
Used cars have often suffered normal wear and tear. But what there could be problems beyond that. It’s a good idea to get a third party inspection so you can have a clear picture of the vehicle. You can also ask that any necessary repairs be completed before purchase or factored into the price.
Negotiating can be uncomfortable. But it’s essential to get yourself the best deal. Learning some negotiating strategies can pay off by resulting in you getting a lower price.
Make sure to be confident when negotiating. You’ve done your homework, and you know the value of the vehicle. Clearly communicate the price you think is fair and what you’re willing to pay.
Use the other vehicles you have looked at for comparison. Having lower offers from elsewhere may get you a lower price. And knowing you have other options may motivate a seller to work harder to win your sale.
If you feel the negotiation is stalling and the price won’t decrease, look for added values. Ask a dealer to throw in a warranty or oil change plan. See if a private seller would be willing to include any after-market items they have purchased for the vehicle.
You know the absolute top of your budget. Sometimes negotiating just isn’t successful. Be prepared to move on if you can’t reach a mutual agreement. You don’t want to blow your budget out of frustration and desperation.
Whether you’re shopping from a private seller or dealership, it’s possible to get a reasonable and fair price. Preparing yourself and doing your homework will pay off. And you will be rewarded by having the patience to negotiate and shop around.
From getting financing to closing the deal, buying a used car can be a stressful process. But be persistent and diligent in getting a quality car at the best price. And the excitement of getting a great deal on your new, awesome vehicle will be well worth it.