Buying a used car through private sales can be very beneficial. Buyers are able to purchase quality and reliable cars at cheap prices. To be clear, a private sale, in the context of buying a car, is the sale of a vehicle that occurs directly between current car owner and the future car owner. The sale occurs with no involvement of a third party, such as a car dealership.
Before deciding to purchase the vehicle, car buyers should investigate the seller and the car. Having knowledge about the seller and the vehicle will give you confidence in what you want to buy and how much you are willing to pay for it. When inspecting the vehicle, physically, come ready with a checklist of factors to be considered when evaluating the quality of a used car.
It is especially important to pay attention to the necessary paperwork for the used car you are buying. Do your research on what essential paperwork should be present at the time of sale.
1. Online Car Buying Sites
5 years ago it might have sounded crazy to buy a car online, especially a used vehicle, but today, there are many outstanding websites and companies that make purchasing a used car easier and safer than it has ever been before.
Heading to several local dealerships to search for a used car is also a great way to search for quality cars at a cheap price. Before making your way to the dealership, do some of your own research to ensure you are getting the best price for your used car.
3. Car Auction
Approach car auctions with caution as cars being sold at government and public auctions are sold on visual inspection alone. Look for signs that the vehicle may have been in an accident or has been repaired. Check the VIN number on the vehicle. VIN numbers should appear on used cars more than once. If VIN numbers don't match, this could be a warning sign that the vehicle has been in a major accident and rebuilt. If you do one thing before you go to a car auction it should be this: know the car you're buying before you arrive. You should research the value of the car you are looking to buy, before arriving at the auction. It can be easy to get caught up in the bidding. But knowing the vehicle's value will help you stand your ground.
4. Negotiate Anywhere
Whether it is with a private-party seller or with a used-car salesman, effective negotiation will have a positive impact on the price of the used car you are buying. Listed below are 5 killer tips for effective negotiation.
- Do your research. If you get to the dealership knowing what you want and how much you can afford, you will be more confident when negotiating.
- Negotiate the total cost of the vehicle, not the monthly payment price.
- Making a low offer leaves you more room to negotiate to the price you actually want.
- If you feel less than confident about going to negotiate with a dealer by yourself, bring someone you trust with you.
- Don't be afraid to walk away. Stay strong and stay within your budget. If you are unsatisfied, then walk away. Sometimes this will trigger the salesman to accept your offer.