Chances are that buying a used car is a good option for you if you are in a cash crunch and taking a loan. Getting a used car allows you to aim higher and get a good car that is not in the cheapest range, yet considering you are in a cash crunch, you do want the cheapest deal you can get.
Be Open-Minded
If you love cars, then it is easy to get fixated on that sports car. You are narrowing down your options, and you are not getting the best deals offered by the dealers. Being open minded allows you to:
- Look for any other suitable cars you may come across.
- Be ready to walk away if the dealership is not willing to compromise. Walking away may in fact force the dealership to reconsider his position and offer you a car to work with your budget.
Do a Bit of Research
Researching on the cars in the market is a good way to prep yourself up for the car hunt. You should build a list of cars you are interested in, the price range of those cars, the mileage you want, etc. There are plenty of reviews online which analyse the car models, so you can find out the pros and cons, and decide if it suits your needs.
Check the Vehicle History Report
Every used car will have a vehicle history report. It tells you about the previous owner, the accidents the car has gone through, and any other interesting details. A thorough read could possibly reveal details about how the price could be lowered more.
Test Drive the Car
Take the car out for a drive. The objective of this is two-fold – to get a feel for the car and to find any faults. Does the steering wheel feel tight? Is the suspension out of balance? Are the breaks in a bad condition?
Negotiation
A dealership expects their customers to negotiate so they always have room for it in their asking price. It is up to you to bring up points on why the dealership should lower the price of the car.
Using all the information you have collected, you can present reasons to lower the price.
- Compare it with the market price of same model.
- A read of the vehicle history report would have revealed negative parts.
- A test drive would have shown some faults in the car.
Every negative aspect that you find in the car is a reason for the car dealer to lower the price.
Get a Good Deal
Even though you are looking for the cheapest car deal, you want a car that will run comfortably. Too many negative points does not bode well for the car, even if you can get a cheap deal. So make your choice carefully and find a trustworthy dealership.
