USED CAR BUYING IS DIFFERENT
Buying used instead of new is a great way to save some money. New cars depreciate very quickly. Many times losing over half their value within the first three years.
Used Car Lot
You must use caution when buying a used car. Since most used cars don’t come with a vehicle, there’s no way for you to guarantee you’ll buying a problem free vehicle and you could be stuck with some expensive future repairs.
Get the Best New Car Price Here!
Even though there are negatives to buying a used car over a new car. Buying a three to five year old vehicle will save you the most money. This is the used car buying “sweet spot.” Most of the depreciation has already taken place. Any older and there’s more chance that problems may arise and will not be covered by any of the remaining factory warranty.
If the vehicle you’re looking to buy doesn’t have any warranty left. It’s not a bad idea at looking to purchase one. You can read our recommendations about extended warranties here.
USED CARS
STEP 1: SELECT THE VEHICLE YOU WANT TO BUY
Go to the trusted partner sites below and enter in the EXACT used car you want. Select all the dealers in your area that have the vehicle (within a 50 mile radius). If you see a duplicate dealer or two cars at the same dealer, select it again. This shows your intent to buy a car (even if your just price shopping) and the dealer will be under more pressure to quote you a great price knowing they are competing with other dealers in your area.
INSPECT THE VEHICLE
STEP 2: INSPECT THE VEHICLE AND CHECK OUT ITS HISTORY
There is two things you should always do before buying a used car.
- Have the vehicle inspected by a third party certified mechanic.
- Get a used car vehicle history report.
Inspect a used car before buying it
You can get a used car vehicle history report online from companies such as CARFAX and AUTOCHECK. These reports do cost additional money, however the information they provide could possibly save you thousands of dollars in the future. If you believe you will be shopping several vehicles, look into purchasing a multiple report or unlimited package.
These reports will tell you if the vehicle has ever been in an accident or have had any title issues. Many dealers will provide you with one. However, we highly recommend you do your own research so you know where the report came from and also to avoid any kind of scam.
Once you find out the vehicle has a clean history report, you have agreed to a price, but before you sign on the dotted line. Ask the dealer if they will allow you to take the vehicle to have it inspected by an independent certified mechanic. This may also cost you a little bit of money, but again save you from buying a vehicle that has hidden underlying problems.
GET MULTIPLE QUOTES
STEP 3: GET AS MANY QUOTES AS YOU CAN
When shopping for a used car. Don’t be surprised to see some higher and lower prices on similar vehicles. Normally a dealer will price a vehicle they just acquired higher in the marketplace. These higher priced vehicles have more wiggle room to negotiate. Used cars that have been sitting on a dealer’s lot for a while will most likely be priced lower and more aggressively. Keep in mind, the lower priced vehicles may not have as much negotiating room.
Clean used cars for sale
While shopping, don’t let these higher prices scare you. A dealer knows they must start high because most online buyers offer lower than the advertised price. No mater what you see for a price. I highly recommend you request a quote on the vehicle from the dealer.
Make sure you get as many quotes on the same year, make and model of the vehicle you’re interested in. Be aware that mileage will be a big factor in the vehicle’s price also. Make sure you’re comparing apples-to-apples as you’re selecting your vehicle.
If you’re able to attach a message to your quote. Let the dealer know you will be buying a car within the next couple days. Ask them to quote you their best price on the vehicle you’re interested in.
PLAY DEALERS OFF EACH OTHER
STEP 4: WORK DEALERS TO GET THE BEST PRICE
Once you receive your quotes, you can use them to negotiate between dealers to get a lower price. You can do this by phone or email, this is how it works:
Used Cars For Sale
1) Lets say you receive 5 quotes from dealers all on the same car with a range of about 10k miles.
2) Honest Motors gave you the lowest price quote of $11,000 for a vehicle with 35,000 miles.
3) Best Motors sent you a quote for $12,500 for a similar car.
4) You want to get Best Motors to discount their price to be more competitive with Honest Motors.
5) Contact Best Motors and give them a chance to discount the price of their car.
You’ll do this with all the higher quotes, start with the vehicles with the highest prices first. It’s okay to let the dealers know the price and mileage on the lowest quoted vehicle. This gives them an opportunity to be (or not be) aggressive on matching or beating the other dealers price.
When sending them the information, let them know you’re ready to buy a car NOW. Dealers will be more aggressive on discounting if they know they know you’re going to buy a car soon.
Keep playing them off each other, if a dealer discounts their car lower than the lowest price you have, they become the front runner. Don’t forget to let the first dealer play the game if they get beat by one of the other dealers.
If a dealer refuses to discount the vehicle further or stops responding to your requests. You’ll know they’ve discounted the vehicle as far as they can.
By this point, you should have several vehicles to choose from. However, before you commit to buying the car, go for one last discount. Contact the dealer and let them know you will go buy the car (pending test drive and inspection) if they will come down another $389. I know it’s an odd number. They may or may not discount it further, or they may just come off a little bit more. However, if you don’t ask, you don’t receive!
GET STARTED
Are you shopping for a new car or used car?