From hidden fees to questionable histories, buying a used vehicle can feel a bit daunting. That said, with the right tips and negotiation skills, it’s possible to drive off in your dream car without overspending.

Find out how to get the best deal on a used car below!

 

How Much Is a Used Car?

The used car market is constantly changing. As of January 2024, the average price for a used car was $25,328, which is down 4% from last year. This drop shows that prices are slowly getting back to normal after pandemic-related supply chain issues.

However, this average covers a lot of different types of cars. The actual price can vary a lot depending on things like:

• The car’s make, model, and year
• How many miles it has
• Its condition inside and out
• Whether it’s been in accidents or had repairs
• Where you live and local market trends

To get a better idea of a car’s worth, check sites like Edmunds, Kelley Blue Book, or NADA Guides. These can provide detailed pricing so you can make a smart choice.

 

6 Tips for Getting the Best Deal on a Car

Buying a used car might seem overwhelming, but you can score a great deal with the right approach. Here are some key tips to help you navigate the process:

 

Do Your Research

Before heading to a dealership, take time to research. Look up online listings, check pricing guides, and learn about the market value of the car you want. This info will give you the upper hand when negotiating.

 

Get Pre-Approved for Financing

Getting pre-approved for a loan from a bank, credit union, or online lender shows you’re serious and ready to buy. Plus, it lets you compare loan offers and negotiate better terms.

 

Time Your Purchase

The timing of your purchase can make a big difference. Shopping during the off-season or at the end of the month or year can give you more leverage since dealers might be eager to hit sales targets.

 

Inspect the Car Carefully

Always have the car inspected by a trusted mechanic. This can help you spot any hidden problems or repair costs and give you room to adjust your offer.

 

Negotiate with Confidence

When it’s time to make an offer, do it confidently. Use your research, point out any issues with the car, and be ready to walk away if the deal doesn’t meet your terms.

 

Consider Certified Pre-Owned (CPO)

Certified pre-owned cars have passed strict inspections and often come with extra warranties. They might cost a bit more, but the added protection can be worth it, especially for higher-mileage or luxury cars.

 

How Much Can You Talk a Dealer Down on a Used Car?

The million-dollar question when buying a used car is: how much can you actually negotiate the price down? Unfortunately, there’s no simple answer. That said, it usually depends on:

• Current market conditions and how many cars are available
• The make, model, and year of the car
• The car’s condition and any repair needs
• How motivated the dealer is to sell (like at the end of the month or during clearance events)
• Your negotiation skills and willingness to walk away

As a general rule, you might be able to negotiate anywhere from 5% to 20% off the asking price, but it really depends on the situation. Keep in mind that some dealerships have a “no-haggle” policy, so they may not be as flexible on price.

In those cases, focus on negotiating a lower interest rate, getting more for your trade-in, or better terms on fees or add-ons. The goal is to get the best overall deal, not just the lowest price.

 

When Is the Best Time to Buy a Used Car?

Timing can make a huge difference when you’re trying to get the best deal on a used car. While it depends on your local market and situation, here are a few general tips to keep in mind:

• Off-Season Months: Demand for certain vehicles changes with the seasons. For example, convertibles and sports cars tend to be cheaper in the colder months, while SUVs and trucks may be more affordable in the summer. Watching seasonal trends can help you negotiate a better price.
• End of the Month or Year: Dealerships often have sales targets they’re trying to hit by the end of the month or year. As those deadlines get closer, they may be more willing to offer lower prices or extra incentives to close deals and clear out inventory.
• When New Models Arrive: When new models hit the market, dealers often want to sell the previous year’s cars quickly, which can mean better prices for buyers. This is especially true for popular models that get frequent updates.
• After Major Holidays: Holidays like New Year’s, Memorial Day, and Labor Day are great times to find deals because dealerships run special promotions to attract more customers.

 

Used Car Turn out to Be a Lemon? Contact Us!

If you’re stuck with a used car that’s constantly in the shop, Norman Taylor & Associates is here to help.

As experienced lemon law attorneys, we’re dedicated to protecting consumers like you. We know how frustrating and costly it is to deal with a faulty car, and we’re ready to fight for your rights to get the justice and compensation you deserve. Call 818-244-3905 or contact us today to get started!

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