In these times of recession, more and more people have to go without various luxury items in a bid to minimise on spending. The few that are lucky to be able to afford these luxury items like cars are being forced to go for used Cars. Other than cost, used cars have no other remarkable advantage. Surprisingly even used car prices are skyrocketing creating further stress on an already overburdened population. To bring used car prices down and get the best car for the lowest price, here are some great advice you can follow.
Whether you are selling or buying, know the value of the use car. To determine used car prices a few factors have to be considered.
Consider factors like mileage, age and condition. Higher mileage will tell you that the car has travelled a lot and thus has a shorter lifespan and should go for a lower price.
Certain car parts are only designed to run for about 100000 kilometres and may need replacement if the mileage is close to this figure. Online websites will also give you an estimate of the used car prices by factoring out the above stated factors.
This may not be accurate but will give you a basic idea of how much you should spend or get for the vehicle.
Gather as much information as possible. Look for the year of manufacture, make, model numbers, and trim levels. Appropriate documentation like vehicle log books should have all these information.
As you may already know certain trim level includes packages which increase used car prices.Chances are that you don’t need any of these trim extras
Often used cars will require repairs. When bargaining on used car prices use this repair costs to your advantage. If you can convince the seller that the car needs repairs totalling to a certain amount, you can get it reduced from the list price.A mechanic could help you determine the total cost of repairs. Most internal faults may not be found through physical analysis so if a diagnostic is available take it. It won’t cost you much and will give you a very clear idea about how much is required. All these costs should be deducted from the used car prices.
Used car prices will vary depending on the extras installed on the vehicle. Avoid cars with extras as their prices are inflated on the pretext of expensive extras. Do not pay more on extras you do not require. Look for a car with the very basics you require as this will keep used car prices down.
Sources and Citations
Take your time. Time gives you the ability to make a decision slowly. Dealers have a way of manipulating used car prices for people in a rush. Do not negotiate under any pressure and take your time in bargaining. Do not go into a dealership shop looking like you need a car immediately as they will take advantage of you and will then hike their prices or offer you lower discounts.