How you know you’re getting a good deal on a used car July 12th, 2018
How you know you’re getting a good deal on a used car
It can be difficult to know when to stop negotiating before losing a good deal completely or knowing whether you’ve negotiated enough. And while the process of finding a used car to buy at a good deal is time-consuming, it’s worth the money saved at the end of the day.
Here are a few things that will guarantee that the deal you’re getting on a used car is a good one and worth signing the contract for. Yes, used car sales are usually already sold at great prices but, there’s always room for something better.
You’ve done the math
The biggest additional cost of financing a car is the interest rate at which you have to pay off your loan. If you can get your financing pre-approved, you can take that interest rate percentage and ask the car dealership if they can beat it. This will automatically lower the overall cost of the used car you’re interested in buying and make it a great deal to go for.
Other calculations come in with the comparison of prices for the same car but from different dealerships in different towns. The used car industry is as competitive as any other and you’re bound to find the used car of your dreams up for grabs at a better price somewhere other than in your hometown. Search across the province and browse for used cars in Pretoria and surrounds to compare prices if you must.
These overall costs will be the indicating factor of a good deal or rip off. So, it’s important that you get quotes from a variety of dealerships to know when you’re being robbed of your money. In the event you find a dealership with a good price, you can always go back to the more expensive one and ask if they can offer you something better.
Your trade-in offer was fair
You know you’re getting a good deal when the offer you get for your trade-in vehicle is fair and more than enough to put down a decent deposit on your next car. This also shaves off a chunk of the overall price of the car that you’ll be paying off with your car loan, which is, obviously, ideal.
This is where your good deal on a used car starts because it’s what will secure your next car. Most dealerships tend to be stingy when it comes to putting an offer on a car. But, again, go to various dealerships and see what each one offers. It’s also a good idea to check what the car book value of your car is so that you know what it’s worth and don’t sell it for anything less.
The car book value
You should also use this car book value to compare how much more dealerships are asking for their used cars. And when you view used car sales, you should challenge the dealer to explain to you what extra features the car has that boosts the asking price so much more than the book value price. A great used car deal won’t be so much more than the book value of the car, so keep an eye out.
The car dealer is quieter than usual
When you negotiate used car prices and you manage to lower the price to a figure you’re comfortable with paying, you’ll notice a change in the car dealers’ behaviour. They need the sale, but, because they work on commission, they’re going to want to sell the car as close to the advertised price as possible.
So, you know you’re getting a good deal when the car dealer is slightly disappointed or a lot quieter than when the negotiations began. They still need to meet a certain quota of sales for the month, so you don’t need to feel bad about it. There will be a minimum sales price they are allowed to offer and, after that, you’ll have to try elsewhere if you’re still not happy.
You feel pretty good about it
The car looks, feels and drives great. The best way to know you’re getting a good deal on a used car is when you simply feel pretty good about it. You’re starting to get excited about it and you’re no longer stressing over the finances, endless searching and negotiation deals. You’re happy with what’s presented, arranged and with the car you’re about to own.
When there are no more questions, incentive and terms to ask for, you’ll feel relieved, ecstatic and ready to sign the deal. When you know that of all the cars for sale in Pretoria, you’re happy with the one you have. That’s how you know you’re getting a good deal on your used car.