NEGOTIATING THE PRICE
1. Following the inspection and test drive, Do NOT show the Salesperson/Seller that you like the car, stay cool and emotionally detached.
2. If not already done, research for how much similar cars are advertised. Do not confuse the advertised price with the selling price. The cars still there have NOT SOLD, it is reasonable to assume the cars which are not there either were better or cheaper. The Red Book value is irrelevant. Establish the price you are willing to pay for the car.
3. Ensure that you have discussed your purchase with someone you can trust. Consult a friend or family.
4. As a guide. a private sale should be approximately $2,000 less than a Dealer sale. Dealers after all provide security in terms of Guaranteed Title, Warranty and are governed by fair and conscionable trading laws. Private sellers are not. They often disappear suddenly.
5. Make an offer, which is at least $1,000 lower than the advertised price, or $1,000 lower than what you are willing to pay. A good negotiator knows to start low. You can always offer more – but never less!
6. Be prepared to walk away (you can always call back in a day – even in an hour - or so).
7. Do NOT believe that there are other parties interested in the car. There may well be. That should however not prevent you from negotiating a good price. There is every chance that the “other parties” are only a sales ploy, be it as it may, take your chance is our advice!
8. Complete a preliminary PPSR (Personal Property and Security Register) check, to ensure there is no money owing on it and it is not a written off car.
9. Organise the Pre-Purchase Inspection with a reputable company.
10. If the inspection is satisfactory organise a Car History History check.
11. If all is at it should be you are now ready to pay a deposit if necessary. Any deposit should be limited to $500 or less and NOT paid until after a satisfactory professional pre-purchase inspection.
Car Solutions can help with not only the pre purchase inspection, but also with finding a car and price negotiation. Simply call 1300 303 012