When purchasing a new used car, you always want to get the best possible price. Whether it’s your first car or your tenth, being able to effectively negotiate with a private seller or a dealer salesperson can help secure a better outcome.
To help give you the added confidence when buying your next car, here are a few tips.
Do your homework
Before entering into any negotiations, the most important step is to do some research in order to boost your knowledge and confidence.
Thanks to the internet, it’s much easier in today’s world to find out what most cars are worth.
We suggest finding several examples of the same model and compare the final cost. Trademe is a good start but be aware of the difference of an auction and a standard listing.
Remember that not everyone is a car buff and many sellers will be able to tell you only about the functions that they’ve used when driving their vehicle.
But that isn’t necessarily going to be everything it has to offer.
Even professional salespeople may not know every feature of each model on the yard, which is why it’s important to do your own research beforehand.
If your going to purchase from a car sales yard, choose one who has been around for a while, check there google rating!
I also recommend that you always test drive the vehicle. Even a short road test can pick up unusual noises, vibrations and other faults.
Once you are happy with your choice Make an offer conditional of a pre-purchase inspection.
We suggest dont leave it to the seller to organise inspection, obviously we would suggest you use us, but if not choose any independent operator one who can estimate the cost of repair to faults found if not mobile many independent workshops will do it for you.
Use the faults to re-negotiate your offer!
When shopping privately, there’s no protection from the Consumer Guarantees Act or Fair Trading Act should anything go wrong with the vehicle.
However, you may have protection under the Contract and Commercial Law Act if the seller has misled you.
This applies particularly when you are misled about something significant and you decided to buy because of what was said.
Always ensure that there’s no outstanding finance on the vehicle by purchasing a vehicle history report. The last thing you want is to take on any outstanding security interest. you car get these from www.carcam.co.nz
It’s time to negotiate
After you’ve done your research and you’re happy that everything checks out, it’s time to start discussing price.
1. Don’t be afraid to bring a friend or family member for support
2. Show an expression of interest
3. Explain any concerns you have with the vehicle’s condition
4. Ask for vehicle history (if you haven’t already) and evidence of any repair/modification work that’s been completed
5. State your terms and insist on a Warrant of Fitness no more than 28 days old as a minimum requirement.
Also ensure that the registration, or road user charges (RUC) for diesel vehicles, hasn’t expired
6. Make a reasonable offer and support it with reason. Negotiations are all about compromise and being realistic. Going too low could put the seller off completely
Once you’ve agreed on a price, it’s always recommended to get a pre-purchase inspection before finalising the sale.
Having a professional look over the car makes you aware of any urgent or imminent repairs.
Any repair work that’s required may give you another bargaining tool.
Can’t agree on a price?
If you have reached a stalemate and can’t agree on a price, shake the seller’s hand, share your contact details.
Ask them to contact you if they change their mind, and explain if you will be looking elsewhere for alternative choices. This in itself could lead to a breakthrough or you could receive a call over the next few days.
Ensure that you discuss any issues you have with the car, and never be afraid to walk away before signing an agreement and handing over any money.
You should always be fully satisfied with your purchase.