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Us Brits are innately polite and fair-minded individuals, meaning that the art of negotiation is often lost on us. This is particularly true when purchasing a single item, as we are predisposed to avoid negotiation unless we are looking to complete a bulk purchase.
This also applies to big-ticket purchases such as cars, even those that are bought as used models. The truth is that negotiation remains a valid tactic whether you are buying one item or 10, while it is especially well-suited to the high values and risk-levels associated with second-hand car models.
Top tips for negotiating a Used Car Purchase
If you are new to the art of negotiation, however, you will need to follow several key tips if you are to be successful. For example: -
Understand the true market value of the vehicle
While negotiation is often glamorised in films and on television, it is often underpinned by knowledge rather than a silver tongue. This is particularly true when buying a used car, as without a clear understanding of the prevailing market conditions and the precise value of the vehicle in question it is impossible to know where negotiations should start. Determining a fair starting point that incentivises vendors to negotiate is crucial, otherwise you will be unable to develop rapport or achieve credibility in the eyes of the seller.
Identify viable Dealers and competitive price points
With knowledge of the market and the type of car that you want to buy, you can target viable dealers that offer you access to the best possible value for money. This instantly helps you to potentially reduce costs without compromising on the effectiveness of the negotiation, placing you in a more favourable position from the outset. Take Shelbourne Motors, for example, as this service provider offers a huge range of used vehicles while also delivering extremely competitive price points.
Enter into the Negotiation with a clearly defined Objective and willingness to compromise
During the heat of negotiation, there are two key things that will determine your success or failure. The first is a clearly defined objective or set of goals, which enable you to set minimum expectations and manage these accordingly. Secondary to this is the need for flexibility and a willingness to negotiate, which allows communication to flow and provides both parties with an opportunity to achieve their goals. The key thing to remember here is balance, as while you want to optimise your savings you must be fair-minded and be careful not to price yourself out of the market.