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We all want to walk away from a purchase knowing we’ve got the best price possible. Buying a new or second-hand car is one of the biggest transactions you’re likely to make, so it pays to be savvy and in the know when it comes to negotiating on the price.
This Christmas is a great time to purchase a new or used car – dealers will be offering plenty of incentives to buyers to entice them away from their Christmas pudding and into the forecourt!
Trusted Dealers provides some top tips below on how to negotiate car price and get the best bang for your buck.
Brits may come across as being reserved, but in 2012, the average British car buyer managed to negotiate a whopping £939 off the price of cars, and as the UK continues to keep a tight rein on its purse strings, we’re likely to see this continue to escalate over the coming years. So, be confident in the knowledge that you’re not the first person to walk through the showroom door and ask for a discount. Be bold and remember that when a car dealer puts a price on the windscreen, it is definitely not, non-negotiable.
It pays be in the know when it comes to pricing of new and used cars. The price that a dealer puts on a car will be set as high as possible, to make us feel like we’re getting a bargain if we manage to negotiate a discount. When the salesperson accepts our lower price, we assume that the new figure represents good value, but this is not always the case. Knowing the true value of a car will put you in a much stronger position when it comes to negotiating the best deal.
In order to gain a true value of the car you’re interested in, the best way to go about finding out is to use some of the free valuation tools available online. Website such as www.cap.co.uk and www.glass.co.uk will give you a fast an accurate estimate of what you should be paying for a car.
Do your homework
Before you visit a dealership, make sure you’re armed with as much information as possible so you feel confident you can negotiate the price down. For new cars, check whether the model has a new edition coming out, or a mid-life ‘facelift’. For a used car, try to find out how long the trader has had it, the longer it has been out on the forecourt, the more likely they are to provide a discount. Look at other elements to the car such as its colour -it is a popular colour or something more obscure? What equipment is included? Does it have a full service history? These are all negotiating points on the price.
MoT and servicing
This is another area where negotiation is possible. If a car is close to its MOT date, and the dealer refuses to negotiate on price, try to get an MoT thrown in – not only will this save you the actual cost of the test, if any repairs need to be done to the car, the dealer will have to ensure these are done before it passes its test, therefore saving you further cash on potentially expensive repairs.
If you’re buying a new car from a dealer, remember that many car sales targets are set on a monthly basis and visit the dealership towards the end of the month. This way, you have a better chance of getting a larger discount out of the dealer as he or she will have sales targets to meet that you might be able to break.
When it comes to the haggle, be confident and start with a low offer. That way, you can work your way up to negotiating a price that you and the seller are both happy with. Remember that you’re at the dealership to buy a car, not to make friends. Adopt a professional, detached approach and remain calm and straight faced in order to get a better deal. Don’t be afraid to leave if you can’t reach a deal you’re happy with. There’s always another car out there and potentially a better deal to be had.