Car history records can help reduce the asking price of a vehicle by up to one-fifth
Negotiating is an art in itself, but you can get the price of the car reduced by up to one-fifth of the advertised value. Automotive data experts from carVertical share tips on how to communicate with salespeople and improve the negotiation process.
Searching for the car’s weak points
Each model has certain weaknesses that you should be aware of in advance. Read online reviews of the car you want to buy to understand its potential problems and weak points. If you’re really excited about a car, don’t show it to the seller. Otherwise, the agreement may be difficult.
Even the best looking used vehicle is likely to have flaws. Rust, damaged electronics, worn tires, fluid leaks, scratches and dents will be easily noticed by both professional and inexperienced drivers.
After inspecting the car’s exterior and interior, always take a test drive as this will reveal more about the vehicle than anything else. Be sure to test the car on different terrains and at different speeds. Try all the gears, check the brakes and listen for any noises from the engine and suspension.
Even the smallest issues should be discussed with the seller as this will help negotiate the final price.
History records help you gain the upper hand in negotiations
The seller always knows more about the vehicle than the buyer. This puts the seller in a better position during the negotiation process, unless you delve into the car’s history.
By checking the vehicle history online, you can find out about falsification of mileage, damage, change of ownership, maintenance and other useful information.
“If the buyer discovers any bad track record or evidence of an accident, negotiations can be easier. Checking the history of a used car is an essential step. If you don’t do this, you can overpay for a vehicle in bad condition”, says Matas Buzelis, automotive expert and Head of Communications at carVertical.
15.2% of all cars checked by carVertical had lower mileage listed, while more than half (52.3%) had historical damage records. This proves that the probability of buying a car with a changed odometer or low-quality repairs is relatively high.
Negotiations with distributors are more difficult
It is much easier to negotiate with private sellers than with a distributor. Because reputable car dealerships inspect cars before selling them, they know what a particular model is worth and may refuse to drop the price significantly. However, that doesn’t mean you can’t talk to them.
“Unfortunately, there are no magic discounts for used cars. If the vehicle is reasonably priced, getting it reduced can be nearly impossible. However, depending on the condition of the car and the starting price, you can reduce the cost by up to 20%”, explains Buzelis.
Even if the seller agrees to lower the price, some cars just aren’t worth it. Buyers need to think long-term and assess the potential maintenance costs and residual value of the vehicle after a few years. No one wants to throw money away and struggle with sales issues after a while.
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2023-09-05 09:07:56
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