Getting the Best Value Out of Your Money: Negotiating for Better Used Car Deals

Negotiating for the price of an item during a sale is common. However, when buying a used car, negotiating for the price is more than just common—it is absolutely essential. After all, while used cars are not necessarily inferior purchases, you need to make sure that you are getting the best deal out of your hard-earned cash. With the current financial crunch, it is imperative that you take a stand instead of just settling with a price you think is good enough.

• Choose—Transact only with a dealer you trust.
• Decide—Know how much you are willing to spend. Of course, besides your budget, you also have to consider the market price of the car you’re planning to buy. Needless to say, you have to choose a different car if your current choice is way above your league. No amount of negotiating can make you afford a car that’s really beyond your financial limit.
• Prepare—Arguing about the value of a used car is good, but you’ll need to have some basis for your arguments; otherwise, the dealer will think you are throwing baseless opinions. There are many ways to assess the possible true value of a used car.  In short, know the numbers. It would help to canvass prices of other markets before entering a negotiation. Know the car in discussion inside and out. With these, you can open the deal with a low but reasonable price, and you can work your way from there.  
• Patience—Negotiations can last for several minutes—even several hours. Therefore, you should have the patience for several minutes (or hours) of negotiating. Patience also entails that you be adamant enough not to exceed your original budget. However, if you’re starting to feel tired or hungry during the course of the negotiation, do not hesitate to leave and resume the negotiation for another time or day.
• Walk-out—Also, do not hesitate to walk out; experts say this is your strongest weapon against resilient dealers. Dealers think they have the upper hand once you’ve shown interest in their product. However, if the dealer knows you can simply leave if the negotiation fails to go your way, he will consider his every word and every move carefully.  
• Focus—During the course of the negotiations, the dealer will offer “add-ons” to the deal to justify the car’s current price. Do not let this offers distract you; concentrate on the car itself rather than the additional offers which are not always worth the money anyway.