When it comes to buying a used Toyota – or any used vehicle – you’ll need to negotiate a good price to come out ahead. In order to prepare for your negotiation, read the following tips and tricks, and make a plan to implement them.
Know what the car is worth. Investigate a vehicle’s price range based on year, location, mileage, and more using the Kelley Blue Book and other resources. Get a vehicle history report on any specific vehicle you’re considering and use any deficiencies – high mileage, needed repairs, etc. – to make an offer below the estimated value.
Look for common models. In other words, don’t zero in on used cars that are sold in low volumes. Instead, set your sights on the most popular Toyota vehicles, because you know there will be more available – which means you don’t have to settle for a single dealership or private party. You can walk away from someone not willing to negotiate, having confidence you’ll still be able to find a great car for less money.
Don’t get your heart set on something. One of the worst things you can do when negotiating is fall in love with a specific model or a particular vehicle. You begin to feel like that’s the only car that will work for you – and that the price really isn’t so bad. At that point, the seller has the upper hand, because he or she has something you want. Always be prepared to walk away if your price point is not met.
Offer cash outright. Then, you can lowball your offer a bit (not too much, mind you), because sellers would rather have the cash in hand than have to wait for your financing to be approved and go through. This applies more to private sellers, since Toyota dealerships have several financing solutions that get the money into their hands just as fast as cash.
Ask for extras. If you can’t get a seller to come down on price, try requesting extra add-ons like a professional detailing package, a full tank of gas, an oil change, and more.
Overall, remember: this process could take time, so patience is key. The moment you decide you have to rush into a decision is the moment the seller has an advantage in the negotiation. On the other hand, you need to be realistic in the price you’re offering. Most sellers want to get a fair price for their used SUV, truck, or other vehicle, so too low of an offer will likely result only in frustration for you and the seller. Now get out there and put those negotiating skills to work – good luck in your search for a great used Toyota!