Negotiating:   The Lost Art of Haggling When Buying a Used Car

Negotiating seems to disappear for those people who view haggling as a tedious and worthless task, especially when it comes to buying used cars. Most of us prefer to just get it over with and pay the asking price.

Based on a report released by Auto Trader, around 56% of the consumers looking for cars for sale are willing to pay the asking price. If you based it on the record of the previous year, the numbers showed a 12% increase.

That means that there has been an increasing amount of people refusing to negotiate when buying a used car.

Based on the research, this increase cannot be attributed to the amount of people who viewed haggling as an uncomfortable part of buying a used car. The boost can be accredited to the dealers who are provide a competitive price. They were able to find the asking price of their rivals… and then beat it. But unknown to most of us is that there are a lot of benefits to negotiating on the price.

Here are some of them:

Benefits of Negotiating When Buying a Used Car

When you are looking for cars for sale, negotiating the price is very essential, especially if you want to save money. While the money is the primary benefit of negotiating, it has the tendency to affect the overall aspect of buying a used car. Here are some of them:

Lower the Cost of Possession

The amount of money that is slashed from the asking price of the dealer is the amount that you saved when you bought a used car. The lower the negotiating price is, the more you will be able to save.

Lower Monthly Payment

This payment scheme is more affordable. By negotiating a reduced amount of selling price, you will be able to reduce your monthly obligations. This simply implies that negotiating benefits the seller, and those who are using a car loan.

Tax Savings

Different states offer different sales taxes. Negotiating to decrease the asking price will affect the sales tax. It can also affect the titling of the used cars as well as the taxes charged on registration.

Save on other Services and Products

Effectively negotiating on the asking price may prevent the dealer from offering you additional services and products. Dealers of used cars will be discouraged to offer unnecessary features that will spike the price up…. this includes extended warranties.

Haggling is not a defunct art; people just need to be aware about its benefits when buying a used car. Do not look at it as an uncomfortable part of purchasing used cars but as an essential process that is beneficial to you.