How to Negotiate a Used Car Price

Bloomington drivers who know what to look for in a used car are well on their way to getting a vehicle that suits their needs and their budgets. The next step is knowing how to negotiate a used car price, which can seem intimidating to a lot of shoppers. It doesn’t have to be when you follow this guide from the finance team at Suburban Chevrolet! We can help you understand how to negotiate a used car before you arrive at the dealership, so you can shop with confidence. 

How Much Car Can You Afford? 

This is the most important step in negotiating a used car price: know what you can afford and don’t go over that amount. Our monthly payment calculator can help, but don’t forget to add the cost of ownership to your data. That includes costs like fuel, insurance, registration, sales taxes, fees, maintenance, and potential repairs. J.D. Power and Associates is a great resource for getting this information.

Research Car Values 

Your first step when you are learning how to negotiate a used car price in the Minnetonka area is learning a bit about what used cars like the one you want to buy have been selling for in the Eden Prairie area. Resources like Cars.com, Kelley Blue book, and Edmunds can help you see what other shoppers have paid for used cars like the one you want. Don’t forget that the features, packages, and add-ons the previous owner purchased can impact a used car’s selling price.

Ask for a Lower Price (If You Choose) 

If the asking price of a used car aligns with your research, you don’t have to feel obligated to ask for a lower price. The main goal is for a price that’s fair for everyone involved. If you’re not happy with the asking price, you can ask for a lower price in a way that shows you’re a savvy shopper who’s done their research. After a sales associate gives you the full price of the car, you can say, “I’ve researched this car’s market value, and I know how much shoppers typically pay for a car like this one.” Bring a print-out of the lowest price you found in your research and ask the sales associate if they can do better than that number so you can buy the car today. This approach shows that you’ve done your homework, know how to negotiate a used car, and prompt the salesperson to work with you. 

Learn More About Buying a Used Car with Suburban Chevrolet

Now that you’re up to speed on negotiating a used car price, learn more about the car-buying process by visiting our car-buying tips. The Suburban Chevrolet sales team and finance team wants you to have an excellent car-buying experience and we look forward to working with you!