Useful instruction and tips on buying the used cars at most economical prices
Some time back car was considered to be a lifestyle item and working people belonging to middle income group wouldn’t even think of buying a car. The times changed and gradually their income increased. Besides, the lifestyle also changed. As the line of difference between rich and middle class blurred, the latter also started imitating, and later emulating the former.
Today it is not rare to see the middle class people driving their own cars. However, many families belonging to middle income group buy used cars in order to meet their requirements and at the same time improve their lifestyle. That’s because while they can afford a new car of basic model, it is not possible for them to buy the exorbitantly priced sophisticated models. Three most important things to consider while buying used cars are: the objective of buying the car, models that meet your requirements and last but to the least, the budget.
However, for buying the used car at the most economical price one should be excellent in the skills of negotiation.
Here is the step by step process for buying a used car that perfectly meets your requirements without inflating your budget.
What are your objectives?
The first and foremost thing is to ascertain the main objective of buying the car. You would need to first create a list of the objectives and then translate the same in terms of technical/design specifications.
It is better to have a family meeting and decide the objective collectively. It will help you to decide on the overall specifications of car. Take for instance:
- You need to use it for the commuting to office: You would need a car with a good mileage and something that can easily speed up
2. Your wife needs it for long drives together: You need a great engine that can ensure consistent performance without hiccups even on the long drives. Good shock absorbing technology to make you feel comfortable even while driving through a path with speed breakers, etc.
3. Your Children would like you to take them on Sunday picnics: You would need a car with good space that can offer comfortable leg room. It should also have entertainment and multimedia options.
How to select the ideal models?
Depending upon the objectives and budgets decide on a few models
Be careful to make sure that the models should contain various features as needed by the family members and should fit into your budget
In case you are not technically knowledgeable, you can check with your knowledgeable acquaintances to help you out
How to check for the prevailing prices?
That is the trickiest part of the whole game and there is no sure shot way of doing this. You can employ a combination of these steps:
First, check the prices offered by various websites that sell used cars: ad services. Try to be specific. Instead of going through each and every website and confusing yourself, it is better to limit yourself to the specific websites that sell used cars. Save them in a spreadsheet with specifications, price, model and year
Secondly, Contact multiple car dealers dealing in used cars and in the above spreadsheet record all the particulars as mentioned above
How can I get more economical prices?
Do not rush to the car dealer right away. Take your time. There are several ways in which you can get the most economical deal:
Last date of the month is the best time to visit the car dealer.
Most of the dealers offer monthly incentives on the quantity of cars sold. So there is a natural pressure on the salesperson. Hence getting a more economical deal is not that difficult as compared to other days of the month.
Visit them at earliest in the morning. The salesperson would be more accommodating in the morning because while starting the day the reigning though would be to meet the monthly quota and take home some incentive.
Gauge the individual’s nature
Not every salesperson is equipped with excellent skills. So you can look for the individual qualities (or weak points) of the salesperson that can benefit you. For example if a salesperson is not very technically sound you can ask him the core technical questions. It would have a psychological effect on the salesperson, giving you an upper edge over him during negotiation.
While buying from a private owner
If you buy from a private owner then you can make you conversation lightly and friendly. It will have some subtle positive effect on the owner and s/he might not be so assertive while demanding the price. Or at least s/he would be more accommodating while you negotiate for a more economical price. It is pure human psychology and most of the time it works
Check for the weak points
If you really want to negotiate for the best price, you should pay more attention towards weak points of the car. Missing side mirror, a little scratch on the rear window, dents or noisy engine, they all are the physical elements for cutting down the price and if you will negotiate the price based on these weakness or defects, you would sound more logical.
Should I buy a used car online?
In fact a large number of car owners prefer to post their classified on several websites that specifically deal in used car. In fact there is still a certain degree of apprehension while buying from these sites but if you will act wisely you would see that these are generally baseless.
- Is it okay to buy an expensive car online: This is one of the major reasons of many people avoiding to buy used cars online. However there is no logical reason to be anxious as once you select the model, you would be required to physically check the items before making the final purchase. Most of the websites make sure that you should be well acquainted with the particular unit of car you are buying. Alternatively you can also go for telecommunication and let them know how you would like to proceed ahead: selecting a model, test driving, one on one conversation with the owner etc.
- My last experience with eCommerce was not pleasant: Yes that can be true. Finding appalling tales of eCommerce frauds or fakes is not a rare thing but in most of the cases the incidents happen because of carelessness of buyers. If you will keep the above things in mind you cannot be duped.
- They won’t provide guarantee: Actually this has more to do with the psychology rather than reality. In most of the cases the car dealers assure the buyers to look after any minor or major problem that happened to the car within, say, 6–12 months. They mostly assure verbally or give you the signed documents in some cases that instantly satisfy you. But if you will read these documents careful you will find that the terms mentioned assure the charge-free assistance only for very general kind of problems that are light on the pocket anyway, while the major problems are not covered by the guarantee. But because the same is mentioned specifically in an eCommerce website dealing in used cars, we tend to think that it is better to buy from car dealers in order to get maximum guarantee.
Decide on your specific objective of buying the car
Decide the features required and the models that collectively house all (or at least maximum) features
Decide the prevailing price of the models chosen (using the steps above)
Keeping some key points in mind while buying from the used cars dealers (as explained above)
It is very likely that you can get the better deals if purchased a used car from online marketplace. That is because most of such websites have a single business: selling used vehicles. So people who use these websites to sell their used cars try to remain as competitive as possible giving you the natural benefit of economical rates.