How to Negotiate Car Prices When Buying & Selling

Buying or selling a car is a delicate dance with both parties aware that negotiations are going to occur. Whether it’s your first time buying or selling a car or need a refresher on all the tips and tricks to get the best price, we are going to go over how to negotiate car prices to help you get the best deal you can.

In the market for a car? Visit the #1 Brisbane car yard at Tough Automotive. If you are looking to sell, we can do that too. To get started, call us on 13002TOUGH or get in touch online.

How to Negotiate Car Prices as a Buyer

If you are in the market to buy a new car and are currently of the mindset that paying the advertised price is fair, you have found the right article. There is an art to buying a new car and that involves negotiating a better price with the seller. There are a multitude of tips and tricks, but we are going to run through our favourites and the most effective ones.

Research, Research, Research

Know the fair market value of the car by checking similar listings and using valuation tools. Use this number as a guide and a limit to how much you are willing to pay. Armed with this you can avoid overpriced listings and call out dealers who are setting prices exorbitantly high.

Know How Pricing Works

There are a few prices to be privy to when car shopping, with these being the sticker price, invoice price, and dealer hold back price. Don’t ever pay the sticker price on a new car. That’s the set retail price out of the factory. If a dealer says it’s the sale price, it may be time to leave. We recommend exploring the other pricing types and keeping your eye out for cashback deals from car manufacturers.

Timing

If going into a dealership to buy a new car, the best time is the last week of the month as the salespeople may need some quick sales to hit quota and be ready to dish out the deals. With private sellers, anytime is good, but you may be able to get better deals in winter or over the holidays, when there are fewer buyers in the market.

Be Prepared to Walk Away

If negations are stagnating and your offer is declined, no problem, you can leave your details with the seller in case they change their mind and walk away. Often, a seller will know you are serious and strike a deal. For this it’s important to not buy the car in your head before you start negotiations, just so you are fine to lose out if it doesn’t go to plan.

How to Negotiate Car Prices as a Seller

Just like getting a great deal when buying a car, trying to get a fair deal when selling can be tough, especially when someone is pulling out all the tricks on you. We will run you through the methods on how to negotiate car prices as a seller, so you are confident when selling your car.

Research, Research, Research… Again

Before listing the car for sale you must research the market, look for cars of the same or similar models and wear and tear to set a fair price. You can use car valuation tools to get a professional opinion. The buyer will be doing the same thing, so set the price slightly higher in preparation for their negotiations.

Know the Selling Points

When listing your car for sale, or taking it to a dealership, know and emphasise the unique features and selling points. These could be low milage, a full service record, and any upgrades or additional accessories you have added after market.

Be Ready for the Negotiator

The best-case scenario is you get a buyer who hasn’t read this article or any ones similar, but its more than likely that you will get people low-balling and negotiating the price of the car. The best way to prepare is to set a minimum price in your head that you would be comfortable taking and walk away from any discussions that fall below this.

Time Your Sale

Kowing when to sell your car can be a huge advantage and help you get the best price on your car. There are often peak seasons and periods over spring and summer when buyers are actively shopping for vehicles. So, if you can hold out until these times it is recommended.

Be Flexible

When it comes to pricing and payment methods you will need to remain flexible. Not all offers will be realistic or something you can accept, but it is worth entertaining them. Same goes for payment methods, don’t list your car as cash only and expect the best offers.

Tough Automotive Makes It Easy

If this all sounds like a bit much, then it’s time to say “Sell my car for me!” and call in the professionals. It’s usually the quickest way to sell a car, and certainly the easiest. We can help you buy a car too and even have an interstate car buying service. At Tough Automotive, we do the work, and you get the money. Find out how easy we can make it. Call us today on 13002TOUGH or get in touch online.