How to Negotiate a Used Car Price

Are you searching for a used car for sale in Lexington? If so, you’re likely trying to find the best possible offer available, and you may be thinking ahead to purchasing your future car at a dealership. Buying a car can be anxiety-inducing for many Louisville shoppers, because they want to get the fairest price, but may not know how to negotiate their position. Below, we go into detail about how to negotiate used car prices, so you can buy your next used car with confidence and save some money in the process! 

Research Car Values 

Doing your own research is vital when you’re searching for a used car that suits your needs. Websites like Cars.com, Edmunds, and Kelley Blue Book are useful resources for determining what a fair price is for a specific model, and what other shoppers in your area have paid for a similar one. Factors like mileage, condition, features, and packages can affect the car’s value, so keep that in mind while researching. Regardless, knowing the true market value of the car you’re considering will give you an edge. 

Also, be prepared to answer questions about how much you can comfortably fit into your monthly budget. When you think about the price of a car as a monthly payment only, the full price can go over your head. You want to know the price of the car — in full — right off the bat. Then, if you’re not happy with it, you can use what you’ve learned about the car’s market value to negotiate. At Paul Miller Motor Company, we encourage our used-car shoppers to ask questions and do their own research, so they can find a model that truly fits their needs and budget right here on our lot!

Ask for a Lower Price (If You Choose) 

So, if you’re unhappy with the initial asking price, how do you ask for a lower price on a used car, exactly? For some shoppers, this can be a bit nerve-wracking. But, there is a way to ask that’s not only polite but paints you as an informed buyer who isn’t just pulling numbers out of thin air. 

After a sales associate gives you the full price of the car, you can say something like, “I’ve researched this car’s market value, and I know how much shoppers typically pay for a car like this one. If you can give me a better deal than this one (hand over a copy of the lowest sales price you’ve found, or a printout of a similar listing at a local dealership), I would buy the car today.” This approach shows that you’ve done your homework, and prompts the salesperson to work with you. 

Explore Our Pre-Owned Vehicle Specials 

Taking advantage of our used car specials is a great way to snag a high-quality car at a great rate. These specials are designed to make financing easier for our Georgetown customers. Our on-special used cars are competitively priced, based on current market values, so you’re guaranteed a great deal. Explore our current pre-owned vehicle offers, and don’t hesitate to reach out if you have questions. 

More Tips on How to Negotiate a Used Car 

Everyone’s personality is unique, and your personality will affect how you negotiate. However, one thing is true for everyone: Whether you’re a people person or more introverted, you’ll need facts and research to back you up. Keep the following tips in mind to help you navigate the negotiation process: 

• Again, facts are your best friend—keep the conversation light, but be direct. 
• If a salesperson makes you feel uncomfortable in any way, or attempts to strongarm you into a deal, simply walk away. 
• Take your time, especially when talking numbers. Write down the price you’re offering and have your printouts handy. 
• Don’t allow yourself to be led into a negotiation if you’re not ready. Wait until you’re equipped with the numbers and facts. 
• Don’t hesitate to walk. If you feel like you’re an unstoppable force meeting an immovable object, and you’re not making any progress, it’s okay to leave. 

Shop Competitively Priced Used Cars at Paul Miller Motor Company 

At Paul Miller Motor Company near Richmond, we pride ourselves on offering a transparent car buying experience, backed by reliable cars and fair prices. We’re always willing to work with our customers to help them find a deal that works for their lifestyles. Ready to start exploring our current used cars for sale in Lexington? Contact us online or call us at 859-963-2674, and we’ll help you get the ball rolling. You can also complete a finance application online to see how much you qualify for before you begin shopping.