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With the exception of buying a house, purchasing a new car will most likely be the biggest expenditure that the average person makes in their entire lifetime. According to data, around 3. Leave it to former car salesman and founder of Tootle. The trouble many buyers run into is that they go to a dealer who only wants a very specific kind of car. As an example, a Mercedes-Benz dealership will likely only want Mercs that are in good condition and with relatively low mileages.
If you have six months or more, use this as a bargaining chip. Essentially, any damage no matter how superficial it may seem will make prospective buyers less likely to want it, raising the stakes for the dealer and leading them to pay you less in order to minimise their risk.
Before you walk onto the forecourt, take full stock of the condition of your vehicle, its wheels, tyres, body panels and interior. Take note of any repairs or damage and then calculate estimates for how much it will cost to restore it.
If you have a strong idea of how much your car is worth and have done your homework, then a strong opening offer could give you the upper hand rather than if you let the dealership start first. Ultimately, you want to get the best price possible for both stages of the overall transaction. If you combine the two you may end up getting good money for your old car, but a far less attractive offer on the new one and vice versa.
Mike stresses that one of the key points in negotiation is to always have a backup plan and to court other offers and keep your options open. Starting negotiations without any sort of plan B can leave you in a weak position and make you more likely to make a bad decision. When part-exchanging, perhaps the dealer already has several cars like yours or has previously struggled to shift a similar model, which can make negotiations harder than usual.
Get the latest news, reviews and guides every week. Update your preferences at any time. Confessions of a salesman: How to part-exchange your car. Car Keys News Confessions of a salesman: Pick a dealership that actually wants your car The trouble many buyers run into is that they go to a dealer who only wants a very specific kind of car.
Keep your options open Mike stresses that one of the key points in negotiation is to always have a backup plan and to court other offers and keep your options open. Find prices on new cars here. Toyota reveals Land Cruiser Utility commercial vehicle. Volkswagen Connect now available on Up! BMW and Mini announce pay-as-you-go subscription service. Join the newsletter Get the latest news, reviews and guides every week.
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