How to Bargain for a Car

How to bargain for a car? The first and the foremost thing that needs to be taken into consideration is whether it’s a used car or a new car because it makes a huge difference in the bargaining pattern. It is required to understand the key difference in negotiation while applying for a used car or a new car. A car dealer often offers lucrative offers to woo the customers. The market for the new car is very competitive as compared to the used cars. There is a cutthroat competition among the dealers and distributors to offer the best deal to grab the customer’s attention. Many new car dealers offer free insurance, free registration charges and extended guarantee. Similarly, an old car become your best asset if you will be getting a best deal many used cars faces the maintenance issues hence it is advisable to check the engine with the help of experienced auto mobile engineer.

It is useful to understand the merits and demerits of a new and a used car:

Let’s have a look at some of the merits of a new car:

1-       Easy finance- New cars get easy finance from many banks. The banks offer lucrative deals for their customer. During festive seasons, they offer 0% interest for their customers. Banks have a mutual tie up with many car dealers and they offer the best prices to their customers. These banks process the loan application very fast so that the customer gets the delivery on time.

2-       Low maintenance- It’s always been a hassle free affair to buy a new car. Unlike a used car, the  new one is much more reliable as there is no need to renovate it or rework on it

3-       Guarantee period- An extended guarantee is offered by many dealers. It gives relieve to the customer, as they enjoy hassle free drives for a long time.

Demerits of a new car:

1-       Price deflation- It is the greatest disadvantage of buying a used car. Due to the competitive market, the value of the new car depreciates very heavily.

2-       Accidental cars- In case of any accident, the market value of the car depreciates instantly. In an used car this sort of problem never occurs.

3-       Loan terms- Customer won’t be able to sell their vehicle unless their loan is paid and they receive a no objection certificate (NOC) from the bank. Loan can be transferred; however, it is subjected to the buyer’s requirements.

Let’s have a look at the merits of an old car:

1-       Transferable guarantee- A new buyer can get the guarantee terms, if the car guarantee is not over at the time of purchase, the first owner can transfer the guarantee to the second owner without any charges.

2-       Certified pre-owned cars- Car dealers renovate and refurbish the old cars to increase the performance of the cars. These cars are also called certified pre-owned cars.

3-       Pre-owned loans- Car loan can be transferred from the previous owner to the new one. It is one of the best features for any buyer. If the first owner has purchased his/her car on loan they can transfer their loan to the second buyer subjected to the requirement of the buyer.

Demerits of an old car:

1-Maintenance of an old car- It has been noticed that in spite of great external looks, the engine’s performance of the used car is not worth it.

2-High rate of interest- It has been often noticed that the bank charges high rate of interest than the new cars. Hence it is required that buyers should inquire from the different banks.

3-Faulty spare parts-It has been often noticed that some used cars have faulty spare parts that affect the car performance i.e. old power steering, loose wiring, electronic systems, and problems in the lights. It is required to rectify all the faulty parts before buying such cars.

If you are going to purchase the used or a new car, it is required that you should understand your budget and requirement before opting for any of the car. While approaching the dealers, ask for the following mandatory things to get the best deal:

  • Market value- It is necessary that the buyer gather information of different deals from the different dealers. It helps in doing successful negotiation with the dealers. Comparison is the best tool that works while bargaining.
  • Free Insurance- Free insurance is common these days. Many dealers offer free insurance to their buyers. It helps in saving a big sum of money.
  • Buyers should understand that it’s an art to get the best deal. It is advisable to the buyers that they should research before buying a car. It helps in getting the best discounted rates.
  • Accessories- If you are buying a new or a used car, it has been noticed many times that the dealers usually replace or steal the original accessories of the car. It is required that you probe about the accessories and point out your requirement in the car. Many dealers offer additional accessories for their customers it is required that you should ask for additional accessories

If you are trying to buy a car, it is often required to know how to bargain for a car to get the best deal. It is required to get an overview of your requirement and analyze the psych of the dealer before opting for any deal.

Related Content:

  1. How to Bargain for a New Car
  2. How to Bargain for a Used Car
  3. How to Bargain for a House
  4. How to Plea Bargain
  5. How to Present a Product
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