Finding Great Deals on Used Cars

If you are in the market for a new used vehicle, you are in a great position to get an amazing deal. Never before has so much information about used autos and their market been so easily accessible to consumers. Access to information translates into bargaining power and savings. By doing your homework, you can save hundreds of dollars and feel the satisfaction that you got the best deal you could possibly get. The research required to be a smart consumer when purchasing a used auto takes time and effort, but in the end - it pays off. The following information will lay out the guidelines for finding the perfect used car and getting a great deal.

Know What You Want

You may think you already know exactly what type of used car you want. But have you really thought about it? Have you considered your daily lifestyle and how that auto would fit into it? Have you thought about how much gas mileage that car will get you? Have you considered the different features and options you might need? Even if you are convinced that you know what car you want, rethink it. Sit down and make a list of all possible traits that you want in a car. Do you want a sedan, an SUV, a hybrid? What kind of gas mileage do you need? How much room? Make a long list of every possible factor. You may be surprised to find that you need a totally different car. On the other hand, you may be very in tune with your needs and be right on.

Now that you have a general idea of what you need and want, make a list of automobile makes and models that would fit those needs. If you needs are very basic, that list might be long - otherwise, you may have narrowed it down to two or three.

Research the Market

Now that you have narrowed your search down a bit, you'll want to research all the specifics on the cars that you are considering. This step may find you narrowing your list down even further in the likely event that price is a consideration. Visit Web sites such as NADA, Kelly Blue Book or Edmunds to find the general range of value of each vehicle you might consider.

Once you have an idea of what you think each vehicle is generally worth, start looking in the marketplace. Visit Web sites such as Autotrader, AutoLeeg or Cars. Use the search features to browse through listings of cars similar to what you are looking for. Compare the range of prices, but don't contact any sellers yet - unless, of course you see an unbeatable deal. (Even in this case, be wary and remember - if it sounds too good to be true...)

After researching the market for a bit, you'll have a good idea for what you can expect to pay and you'll start to have a sense for how much you can get away with haggling when you get to that point.

Find Your Car

There are many different ways for finding used cars that are for sale. Be creative about where you look. The more vehicles you are exposed to, the more you increase your chances of finding the perfect one for you.

* Great deals can be found at police or government auctions. Call your local city hall or sheriff's department to find out when and where these are held.

* Search Autotrader, AutoLeeg or Cars and similar sites for deals in your area. Make sure to use the advanced search function and enter all your criteria and narrowing results by geographical area.

* Look in your local newspaper. There you'll find auto classifieds ads about specific automobiles by local sellers (private sellers and dealerships). Newspaper classifieds are usually alphabetized by auto make and model, so you can go right to the type of car you're looking for.

* Check online classifieds such as AutoLeeg or Craigslist to find private seller looking to get rid of their used vehicles. You can use online classifieds to search in a wider area when you are willing to travel a bit to get the car you really want.

* You should also spread the word among your friends, family and coworkers about the type of car you're looking for. Word of mouth is a very powerful communication tool.

Sharpen Your Pencil

Once you've done all the research and determined what the car you really want is worth, you'll know how much you're willing to spend. Use your negotiation skill to glean a little more value for yourself in the deal. For example, if you're willing to pay $7,500, your money may buy more special options or lower mileage if you play your cards right. The trick is to know what other cars in the market are going for and using the lowest available price as leverage in your negotiations. At that point, any seller may say "if you want that price, then buy that vehicle." But in most situations, a seller (whether private or a dealer) will prefer to close the deal and make the sale than turn you away. In the event that you do get denied your final offer and you walk away from the deal, you still may find yourself receiving a call from a seller who has reconsidered. If in your dealings with any particular seller you sense a note of urgency to sell the vehicle, than that particular seller may be more willing to negotiate as far as price is concerned. Also, keep in mind that in this economy, used car dealerships are much more willing to negotiate and give you better prices, terms or financing in order to make a sale.

Be Fair

Realize that times are tough for everybody. If you were going to sell your auto you would hope to be able to get a fair price. If you come across a seller who is desperate to sell and you are interested in their vehicle, make sure you are not taking advantage of their situation. You can get a great deal without being greedy. The best deals are mutually beneficial for all parties involved.