How to Negotiate a Used Car
When you’re shopping for a used car, you want to ensure that you not only get the ideal car for your automotive needs, but also the best deal. To do this, every driver should learn about the proper mechanics of negotiating for a used car deal.
Many drivers around the Indianapolis, Plainfield, and Bloomington areas are seeking out their next cars, and the Andy Mohr Automotive team would like to help! We want to equip you with the best tools and practices to ensure you get the best model for your driving lifestyle, which is why we crafted this handy guide on how to negotiate a used car. Read on to learn more!
The Steps to Negotiation
Negotiation is a process and there are certain steps to follow to ensure that you leave the dealership with the car you want and the deal that works for you. By following the steps laid out in this process, you’ll be cruising in your ideal ride in no time:
- Determine Your Needs – When you’re looking for a used car, you want to consider several factors to narrow down your options. For example, what do you expect from your next vehicle? Do you need leather seats? Would you prefer to have a crossover vehicle to a sedan? These are questions you’ll need to answer before you begin exploring car inventories.
- Figure Out Your Price Range – Many different automotive dealers offer a payment calculator on their website. This tool allows you to input several different numbers to determine a monthly payment. You’re able to plug in your down payment amount, a trade-in amount, and even your expected interest rate at times. By figuring out the right combination that brings you to your desired monthly payment, you’ll be able to determine your price range.
- Isolate Your Brands – When you’re able to identify what you want from your vehicle, then you can choose the right brands that work for you. Once you’re able to narrow your selection down, start identifying individual vehicles that meet your driving needs. Are you looking for an AWD crossover vehicle that has heated seats, impressive gas mileage, and a great sound system? Find the brands that have that type of vehicle!
- Apply for Financing – If you walk into a dealership with an approval, they’ll be better able to help you. It’s even better if that approval is within your price range since you can then locate a vehicle that will work for you. If you have a price in mind and the bank agrees, your prep work shortens the time at the dealership. So, get started on a finance application online—it also saves you time at the dealership!
- Schedule an Appointment – By scheduling an appointment with a salesperson, you’ll be better prepared for your meeting.
- Know the Value – Before you lock onto one particular vehicle and agree on a deal, find out the approximate value of that vehicle. There are dozens of estimations for this value on the web, so pull out your smartphone and find the number that can be your jumping-off point.
- The Extras – Congratulations, you’ve gotten the salesperson to agree to a deal, but you’ll want to ensure that it’s slightly below your budget. You’ll likely want GAP insurance; you may want a certified used vehicle; or you may want to negotiate on services. Make sure there is some wiggle room to include potential add-ons into your purchase price.
Drive It Home
Congratulations! You’ve successfully negotiated a deal on a used vehicle and you’re ready to sign the paperwork. Be sure to dot your I’s and cross your T’s and read through everything you’re signing, so you fully understand every aspect of the deal you attained. The final step is to call your insurance company and insure the vehicle right away.
Your Used Car Resource
When you’ve located your ideal vehicle, it’s time to meet with your salesperson. At Andy Mohr Automotive, we’re here to help you every step of the way. Join us from the Indianapolis, Plainfield, and Bloomington areas to start shopping for your new car.