Used Car Prices

One place where there is strong possibility of being able to get cars at wholesale price is at an car auction. The government conducts auctions of vehicles from its various departments like Defense, Housing and Urban development, FBI, IRS, postal services, and other departments. One can expect to get a car at a great price at these government auctions.

There are different types of public car auctions that keep happening all over America. Many of these auctions are limited to dealers who have licenses and are open for everybody. These auctions are for cars that have been repossessed by banks and financial and lending institutions. Cars can often be bought at a wholesale price here.

There are many bankruptcy auctions where one can get cars at low rates. The classified advertisements in newspapers carry information about these auctions, whenever they happen.

Car rental companies all across America continue to buy new cars to renew their stock. What this means is that they sell their older cars at auctions. At such a place you can find a wonderful bargain for your vehicle. One can check out these companies by calling them up and or reaching them through their Web sites.

Many vehicle dealers have their own auctions where one can get a great car at an extremely low price, often below wholesale price. But only those that are registered as dealers have the right to bid at such auctions. There are also auctions held by dealers that are open to anybody in general.

The Internet has become a great place to find quality cars at affordable wholesale prices. However, despite the convenience, comfort and speed of locating a car of one's choice, there can still doubt regarding the authenticity of the person selling the car. Besides, when a car is being purchased through the Internet, one would also have to educate oneself about the laws relevant in one's state of residence, since many a time cars are traded interstate.

How To Negotiate a Great Price on a Used Car!

First, let me say that it is very important to negotiate the price of the car you are interested in without involving financing or a trade-in. Don't get caught up in negotiating a payment or a trade-in allowance. Keep both the trade-in and financing out of the price negotiation completely.

Once you have negotiated a firm price on whatever vehicle you want to buy you can then introduce the trade-in into the deal. This way the car dealer can't artificially inflate the selling price in order to give you an artificially inflated value for your trade. If you allow them to do this it will distort the whole deal, and you will have no way of knowing exactly where you stand.

Once you find a used vehicle you would like to buy don't be afraid to hit the car dealer with a low offer. In fact, offer them $4,000 or $5,000 less than what they are asking. They probably won't accept it, and they will come back at you with a price much higher than your offer. Just hit them low again. Come up from your original offer $500. Be polite, but be hard nosed with them and don't let them intimidate you. You are in control of the negotiating process simply because if you don't like what they are offering you can get up and go somewhere else. Tell them that you are going to buy a vehicle right away, and if they want your business they will have to come down to your price.

Be respectful, but be BOLD! If they know you are really going to buy right away they will come down on their price to get your business. Maybe not all the way, but they'll be willing to compromise! Keep going back and forth with them on price, coming up in small increments of $200 to $300 at a time until they indicate to you that you're getting close. That's when you'll know what their bottom line is. You may have to actually get up and start to walk out to squeeze the last few dollars out of them. Let them chase after you and convince you to keep negotiating!

Once you are sure you have them pushed as far as they'll go you have to simply make a decision whether to buy the vehicle at that price or not. Remember, you can always go somewhere else, compare prices and use these same techniques all over again. One last thought take your time and think everything through. Sleep on the deal until you are absolutely sure this is what you want to buy. Often, a car deal will look entirely different to you after you sleep on it.

A car salesman is trained to get you to make an emotional buying decision right on the spot. They don't want you to think about the deal. Don't fall into their trap. If you do you will probably regret it later. Stay in control and make an intelligent and logical buying decision not an emotional buying decision. You have to live with this decision for a long time, so be sure of what you are doing.

Helpful Dos and Don'ts of Negotiating Used Car Prices

DO know that negotiating used car prices is always an option that is open to you. Despite the fact that some sellers will attached a "price is firm" quote along with their listing, most are open to negotiating if you start to haggle. Their goal in saying price is firm is to create a strong impression that they will not negotiate, but a good percentage will actually lower their selling price if presented with a decent offer.

DON'T outright say "$5,000 is all I can spend," unless you know for a fact that the car value is a lot more. Let's say that you look up a vehicle's estimated value on the Kelley Blue Book website. You then determine the vehicle is worth $7,000 on a private sale. It is okay to toss around an exact figure when you know for certain the vehicle is worth a sizable amount more. It is too risky to outright offer $5,000 for a vehicle worth $5,500, as the seller might have accepted even less.

DO haggle or negotiate for a better deal on a used car in person, as negotiations tend to go better when done in person. It is much easier for a seller to refuse a lower offer via phone or email because they haven't met you. Once they meet you, they can then associate a face with the person; the face of a real human who is ready to make a purchase right then and there. Basically, you are standing in front of them ready to buy the used car right then; the money is almost in their hands and this gives you a lot of power when haggling.

DON'T forget to check the value on the Kelley Blue Book website of all vehicles that you are interested in before negotiating for a better price. Most sellers will set their asking price slightly higher than the recommended resell value through a private sale. They do this to make money. With that said, some sellers do actually set their asking price lower than the Kelley Blue Book value, as they know this increases the chances of them making a sale. The Kelley Blue Book value will work in your favor as a negotiating tactic only if the selling price is higher.

DO print the value check you did from the Kelley Blue Book website or have your smart phone ready to access this information. So lets say that the seller is asking $10,000 for a vehicle valued at $8,000. Inform them of the price difference and state that the Kelley Blue Book website is accurate and comes highly rated and recommended. But wait! What if they don't believe you? Whip out this printed document or the phone; show them right then and there that the car is worth much less than being sold as.

DON'T show your excitement about a vehicle too soon. Lets say that you have been searching for a quality used minivan within your budget for weeks, you finally found it! It is only natural to be excited upon first glance, but too big of a show of excitement can hinder your ability to negotiate. By showing too much excitement, you pretty much show that you will buy the car. If you are likely to buy the car anyways, the seller isn't going to negotiate with you as there is no reason for them to do so.