If you’re in the market for your next car, you may be wondering what your chances of negotiating the price of a car is. For many drivers, their budget for getting a car may be low and haggling the price down can be a great way to get more for your money. Some of us are natural hagglers and aren’t afraid to ask for reduction on price or a few cheeky extras thrown into your deal but for many drivers the prospect of negotiation may seem daunting. However, the guide below is here to help you get a better price for your used car when buying from a dealership.
Are you allowed to haggle the price of a used car?
Yes, negotiating the price of a used car is allowed and at the end of the day, the dealer can only say no if all else fails. The Money Advice Service states on their website that anyone can and should haggle when buying a vehicle and also provides information on how to do it correctly and safely. So with this in mind, more drivers than ever may be looking to get a good deal on their next vehicle through the power of negotiation. Haggling a car price doesn’t necessarily mean that you will be able to knock thousands or pounds off the price but there are a few things you can consider to help make your deal a little more affordable.
Why buy from a dealership?
When you buy from a private seller, it can give you more negotiation power as the deal can be agreed between you and the seller easily. However, when you buy from a private seller, you don’t have as many rights as when you buy from a dealer. If you’re unsure about haggling or negotiating the price of a car, it can be safer to do so at a dealer as you are protected by the Consumer Rights Act 2015 if there were anything to be wrong with the vehicle. The dealership will also take care of all the necessary paperwork, can introduce you to car finance lenders and can part exchange your current vehicle too.
Top tips for haggling the price of a car:
1. Set your budget.
The first thing you should do before you think about haggling the price of a used car is to see how much you could comfortably afford to pay. If you’re paying with cash, it may be a case of how much you have saved up or if you’re looking to get a car on finance, you should consider your monthly budget. Your budget should be realistic and affordable and when it comes to haggling, you should always start lower than your budget so if you do end up caving, you won’t be going over budget.
2. Compare other dealers.
One of the easiest ways to haggle, especially if you’re not comfortable with doing so is to check the price of the same or a similar car within your budget to a competing dealership. This way, when it comes to buying your car, you can either choose to buy the car cheaper from elsewhere or use this information to get the dealer to bring the cost down, so they don’t lose your business.
3. Spruce up your part exchange
If you have a car to part exchange, you could consider cleaning up the current condition of your car to go towards the price of your next car. When you part exchange a car, even if it’s on finance, you use the value of the car towards your next car at you can do this directly at the dealership. The dealer will give you a valuation of your current car based on its condition and the market price so it can be a good idea to increase the resale value of your current car to go towards your next car and give you more negotiation power.
4. Visit the dealer on certain days.
Many drivers don’t actually know that when you visit the dealership could be key to getting a better deal. You could consider visiting the dealership at the end of the month as they usually have monthly targets to meet which could help you get a better deal. When the new car registrations come out, dealers usually find themselves with lots of used cars that drivers have used as a part exchange. This means, you could benefit from a good deal on someone else’s part ex when you visit in March or September when the new registrations come out.
5. Be polite.
Many drivers think that negotiating a price means that you have to be assertive or even aggressive, but dealers won’t respond well to a bad attitude. Whenever you’re trying to haggle a used car deal, you should stick to your budget but always be positive and polite. Just like anything in life, being respectful a kind will provide room for a better and more negotiable conversation.