Negotiating the price is arguably the most important when buying a used car. Your negotiating skills can make or break the deal. Moreover, the process begins much sooner than you think.
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It can be intimidating, whether you’re negotiating with a dealer or a private party. Thankfully, you can use a few insider tricks to get the best deal possible.
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Negotiation Begins Before You Meet the Seller
First, do some basic math before going into talks with a seller. Know the vehicle’s estimated value by looking at similar listings and getting a pre-purchase inspection. Every little bit of knowledge helps here. Make sure to factor in increased demand for a vehicle and price changes due to Naira devaluation.
It’s best to have a few numbers before speaking with anyone. Know your budget, and stick to it. This is especially true of dealership negotiations.
Less Information is More During Negotiation
About the act of negotiating, less is more. Revealing any unnecessary information can harm your efforts. So, it’s best to be careful what you say to a salesperson or private party.
This is somewhat of a balancing act. You want to appear friendly but without revealing too much. In essence, what the salesperson doesn’t know won’t hurt them. Don’t reveal your budget.
Finally, try your hardest to keep the negotiations separate if you’ll be trading in your vehicle. You don’t want to have the dealership factoring your trade-in into negotiations.
Your Attitude is Important
This last piece of car-buying advice is arguably the most important. Your attitude is everything, especially with private sellers. You don’t want to let a misunderstanding during negotiation ruin what could be a great deal on a car you’d like to own. Treat it like a job interview. Be kind, courteous, and patient. Don’t interrupt anyone to fit in a joke.
Conclusion
With these tips in mind, you’ll have no trouble getting exactly what you want from your next vehicle purchase, be it through a dealership or a private seller.
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