After finding the perfect car, its time to get the perfect price. It is exciting to find that perfect car, but keep in mind that it is not yours just yet. Before calling it your own, you need to negotiate the car's price with the seller. Negotiation varies when you are buying from a private seller or a dealer. In order to get the best price you need to be prepared and well informed.
When dealing with a private seller there is more room for negotiation. Like I mentioned in a previous post, you should be aware of any repairs the car needs. Do some research to find out about how much you will have to spend on repairs. It is also helpful to know the car's average value in the Kelly Blue Book. The blue book price is an estimated price that is made up of the car's original price subtracted by the car's depreciation. Use the cost of repairs with the blue book value to negotiate with the seller and get the best price.
When dealing with a car dealer there is little room for negotiation, but it does exist. Dealers sell cars to maintain and profit in their business, so they are not looking to lower their prices. Being a dealer, they also have the benefit of not having to sell the car eminently as they have many costumers. Despite the limited negotiation room you can still adjust the price by knowing the repairs the car needs and the Blue Book value. Dealers post the car up at their ideal price, but they also leave room for negotiation, if done right.
So, don't be afraid to counter the seller's asking price, chances are they over priced the car to allow some profit even if they lower the price after negotiating. Use the following links to help you see the value of the car to give you the edge in negotiation.
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