Tips for Handling Negotiable Offers When Selling Your Car
Selling a car through an auction house or dealership is generally much easier than trying to perform a private sale with classified ads. Most dealerships generally have a straightforward process for assessing and buying a used car. One area where there might be room for negotiation is the price offered to buy the car. A negotiable offer means the dealer is willing to talk about the price. Several tips will make it easier to get the most from negotiable offers.
Not All Offers Are Negotiable
The first thing to understand is that not all offers are negotiable. Dealerships usually ask for the desired price from the seller when initially considering buying a car. The dealer then looks at every detail of the car. There are times when the offer that is initially presented is as high as the dealer is willing to go. Some dealerships also have a strict no negotiations policy. If the dealer will not negotiate, then the only thing to do is to consider the offer that was given.
Prepare the Car before an Initial Inspection
The car should be fully prepared before being taken into the dealership for an inspection. Anything that can be fixed on the car should be repaired. Any parts like dashboard components or exterior fixtures should be put back into place. All paperwork like maintenance records, manuals or car history reports should be gathered together as well. The car should be cleaned thoroughly both inside and out the day before the inspection. Making sure the vehicle looks and runs as nicely as possible will make a difference.
Know the Value of the Vehicle
Negotiations are going to be very difficult if the market value of the vehicle is not known. The realistic selling price of the vehicle should be researched. It is important to depreciate the value a little for any damage, wear or other problems with the car. The dealer will know this price as well. Knowing the market value of the vehicle provides a realistic starting point for negotiations.
Mention Every Feature and Benefit
Dealers who regularly buy used cars normally have an encyclopedic knowledge of the different features of each model. There are times when this is not true. A good strategy is to mention every feature and benefit of the car during negotiations just in case the dealer was unaware of something. It is especially important to mention any modifications or additions to the car. Features and benefits could increase the price during negotiations.
Have Reasonable Expectations
It is always important to have reasonable expectations when selling a vehicle to a dealership. The price of a car is not going to increase because of sentimental value or things that make little difference like a new gas cap. Additionally, dealers will usually offer a little less than market value to cover administrative and other costs. Dealers also need to consider what a car will sell for in the local market. Having reasonable expectations from the start will make negotiating offers with a dealership much simpler.