With used car prices staying high, buyers need to work hard to get the best price possible. These expert haggling tips, compiled by a used car expert, will ensure you get the best possible used car deal, not the price the sales person wants you to pay. The tips come from Neil Hodson, deputy managing director of CAP HPI, a company that specialises in used car values and data searches.
Expert haggling tips: channel your inner house buyer
Hodson said: “Despite a car being the second largest financial purchase a person will ever make – a property being the biggest – 56 per cent of us would rather pay the asking price for a used car than negotiate with a dealer. This compares to just 16 per cent of people who would rather offer the asking price for a house than negotiate. In fact, as many as a third of us would rather negotiate a pay rise at work than haggle for a car.”
Expert haggling tips: what NOT to say
- I really like this car
- Have you sold many cars today?
- What sort of discounts are people getting on cars at the moment?
- Please can I have a discount?
- Are you sure you can’t meet my budget?
- Is that all that my old car is worth?
- What will it cost if I pay in cash?
Expert haggling tips: what you SHOULD say
- I’m interested in buying this car from you, but to do so I need more than you are offering in part exchange on my old car
- I’m ready to do a deal today at the right price or I’m a cash buyer
- Has this car ever been in an accident?
- How much discount will you give me?
- Can you meet my budget – if not, I can buy elsewhere…
- If your manager is the one making the decision, can I talk to them?
- I’ve seen a better deal at… (a nearby competitor). Make sure you really have or you’ll sound silly
- If we can agree on £xxxx then you have a deal
Expert haggling tips: Get the right balance
According to Neil Hodson, in order to get a good used car deal you must strike a balance. He said: “You need to make sure the vendor or salesperson knows you’re a serious buyer without appearing desperate. It is equally crucial to do your homework. Before you start the process of securing a deal, research the market place and ask the right questions. Knowledge will empower a buyer.”
Expert haggling tips: Know what you’re buying
According to new research by car data company My Car Check, nearly half (46 per cent) of the cars it checked last year had some hidden history. That means they might be an insurance write-off that had been illegally put back on the road, or stolen and re-sold by crooks with a new identity, or be owned by a finance company. A data check will reveal this hidden history and either encourage you to walk away from the deal or give you some vital information to negotiate with.
Expert haggling tips: Be confident
Hodson believes that buyers need to do their research to be confident when they come back with an offer that’s lower than the asking price. They also need to know exactly what their car is worth if they’re part-exchanging. He said: “We advise all drivers to do all the usual checks when looking to buy a car but never agree to a price until they have checked the market value and the car’s history and status. Armed with this information as well as our bargaining tips, car buyers can shop with self-assurance until the price is right.”