For those of us with no mechanical abilities, and (extremely) limited haggling skills, car shopping is intimidating, to say the least. However, sometimes it’s gotta be done. So buckle up!
Photo by Connor Lunsford on Unsplash
“Buying a used car is like buying a pig in a bag,” my dad told me recently. After he explained his colloquialism, I realized he was right: you really have no idea what you’re buying when you purchase a used car.
However, you can hedge your bets by being the most conscientious and careful consumer possible. While a dealer bears some responsibility for giving you the information you need, in the end, the onus is on you to get the best deal possible.
Here are some things you can do to improve your chances of getting a good vehicle at a reasonable price:
Know what you want:
Going to a car lot to look for “a car,” with no other parameters in mind, is no way to go. Do your research. The good Lord gave us the gift of the Internet – use it.
Research into the brand helps. There are websites that let you sit in on a virtual test drive. Some car review websites give you expert analysis comparing one car company to another in the specific body type you want. You can find out specs on size, features, seat comfort, and common problems. If you need it, you can even find out the towing capability and the amount of fuel it’s likely to use.
You can also find out what previous consumers have had to say about the type of car you’re considering. For those Amazon.ca users who frequent the “customer reviews” section, you may find this especially helpful.
I remember looking up minivan reviews and seeing that one particular brand was said to “eat brakes like pizza.” All this is information to keep in your pocket, but it may or may not have a bearing on your decision. On the other hand, I heard another rumour that a certain brand of minivan tended to leave its transmission on the road around 120,000km. I can guarantee I wouldn’t have been purchasing a that particular van with 115,000km on it for instance.
Find out as much as you can about your target vehicle
Now’s the time to check out specific vehicles: to drive, to ask questions, and to inspect.
Test drive the car and inspect it yourself. Make note (and that means actually write down) any noises, scratches, dings, or other potential problems that come up while you’re driving. Try all the things you will use in the car: the seat adjusters, the doors, the mirrors, the sun roof. Sit in the back seat to see if it’s comfortable and make sure everything looks good. You can write in a deal that the dealership fix, say, a windshield chip, before you take it home. It’s harder after it’s left the lot.
Regardless of the research you’ve done it’s tough to know what maintenance you’ll have to do with any car in the future. Some cars just withstand the test of time better than others. Previous owners – and how they treated the vehicle – can have a big impact on the wear and tear.
Car proof reports can tell you if the car has had accident or other insurance claims, how many owners the car has had, and can provide some maintenance records. They are great information and are provided free by some dealers.
It is a good idea to have a third party (read: not dealership employed) mechanic take a look at the car you’re considering. Especially if the Carproof showed an accident report in its history.
A mechanic can tell you if any part of the car is going to need immediate attention, and might be able to notice things you won’t – like if a car is improperly patched up after an altercation with another vehicle. You will have to pay the mechanic for his/her expertise. You will have to take the afternoon to get the car to your mechanic and back to the dealership. It is worth it.
After all this consideration, pick your target vehicle – but keep in mind and in hand the ads for the other vehicles you were checking out. You can use them to bolster your confidence, and to play your hand better during negotiations.
It’s haggle time
If you’ve made it this far, you’re probably pretty far invested in your target vehicle, and that’s okay. But don’t be afraid to walk away! I’m pretty sure car sales reps can smell desperation.
Decide what you’re willing to pay for the vehicle. Forget the sticker price for a minute and decide what you think the car is worth and what your budget will allow. Establish in your mind an offering price and how high you’re willing to go. When it comes to haggling, do not deviate from this plan!
Mention all of the notes you made about the vehicle’s condition at this point.
This is the point that you discuss payment options with your salesperson. Will you finance with a dealership or a bank? Have you saved a fat wad of cash, and you’ll be using that to pay? Now is also the time to dicker about the price you’ll get for a trade in, if you have one. Be fierce, my friend. Know what it is worth beforehand so you can go in with confidence.
Do the deal
There are lots of things that happen after you’ve decided on a vehicle and a price, and it will vary depending on where you buy the car. Make sure you’ve signed your important papers, have your ownership and plates sorted out, and have spoken with your insurance company to get a temporary insurance card so you can take your car home.
A dealership will take a few days to get the vehicle ready to go. It will need to pass a safety inspection, and they’ll take care of any problems you found during your test drive. In the meantime, you need to secure your financing (or dig up your cash from its hidey-hole).
When you reappear with money in hand, you will get the keys and drive home satisfied, knowing you did your best to get a good deal.
Buying a car is more complicated than it should be, given how often these transactions go down. That said, you can be all the way through, from research to new ride, inside of two weeks if all goes down well.