Used Car bargaining?

Question

I just got a loan from my bank to use towards a used car. There is a car I was looking at that is over $2000 the Canadian Black Book value. How should I bargain down the price? What are some good methods? I don't want to come off as an ***, but I don't want to pay more than what the car is valued at.

Answer 1

I agree with The Freak Show, sometimes you have to be straight forward with the dealer to barter a price. Have your facts before hand so he/she can not overprice and be prepared to walk away, I have pulled off a few deals by refusing their offer and starting to walk; they changed their mind  and lowered the price. The economy gives you an advantage, dealers want/need a sale to stay in business.

Answer 2

The only thing I can tell you is that you should offer what you are willing to pay for the car. From my experience, if a car is significant'y overpriced, you should just keep looking. People who are not even close to reasonable, are probably not going to come down in price enough to make it worth your while. The key to getting a great deal on a used car is patience. If you have time, just watch the paper and see what shows up. Craigslist is also one of the best places anywhere to find a deal.

Book values on used cars are usually pretty high to begin with. In the USA, Kelly Blue Book is totally out of touch with reality when it comes to selling prices. I don't know if it is the same in Canada.

I would just decide what you think is a fair price for the car, and then offer them the money. Just remember that if you make an offer, you should be prepared to buy it right away if they meet your price.

Good luck!