My daughter has been looking for a used car for a long time, but is being very picky about car type, mileage and how much she spends. She’ll be putting $10,000 down.
How would she negotiate a price drop? How would she ask to take the car elsewhere to have to looked over by a mechanic? Anything else we need to know?
Thanks!
This a great resource from The Penny Hoarder. https://www.thepennyhoarder.co…w-to-buy-a-used-car/
Good luck!
I REALLY NEED a car! I have NO means of transportation. Help! My credit is lousy! How can I purchase a car? Down payment money is non-existent!
I accidentally discovered a great way to buy a NEW car. This could work for a used car if you could find cars that are more apples-to-apples.
Pick 3 dealerships—best if it is during a slow time for car sales—at least one of them needs to be about a 2 or 3 hour drive. Call each dealership, get a salesperson, tell them what you have for a trade in OR down payment then communicate by text or email. Share each price quote with the others.
I call it “Car Salesperson Hunger Games.” NOTE: You are to be nice to each of them. If you find out that one salesperson isn’t quite so nice, simply ignore them, call another dealer if you can find one.
Get the best deal… then find another salesperson to throw into to ring. If they immediately won’t play, you’ve probably got a good deal. Also, if the local dealers start throwing in free service/oil changes, they know you aren’t going to drive 2 hours for that.
You’ll be busy exchanging text messages, but otherwise, pop some popcorn and enjoy the fun.
Each time you get a quote—watch the top line as well. They count on you looking at the bottom line. Might be a good idea to print each one, and take notes.
Last but not least, don’t be so proud of the final price that you won’t walk out if you don’t get the best loan interest rate. They can sneak that in at signing time to make up for giving a good deal, thus negating everything that you’ve spent hours trying to accomplish.
Thanks!!!
On Mon, Sep 9, 2019 at 6:19 AM The Penny Hoarder Community <
community@thepennyhoarder.com> wrote:
Hi Lamaretta, place an option in your budget to save for the car within a certain period and you will have it. Don’t rush as it also requires maintenance.all the best.
For you to be sure about the state of the car it means a mechanic has to be there with you to check on its condition.that has to be a condition you give to the seller because ultimately if there is no warranty then you will have to foot the bills to recondition it. Take advantage of the repairs that have to be made to negotiate the price.hope I have helped and all the best,
