How to haggle down the price of a used car?

on a $7000 price tag..the dealers probably paid around 4000-5000 max for it so 500-1000 should be your target price off the used car.

Try to find cars similar to what you will want that are offered by private sellers so you get a good idea of what cars are worth in the first place. And if saving money is worth more to you than wasted time, you have a powerful tool on your side--more on that later. And don't go to Carmax, they are serious about no-haggle. If you go someplace else, haggle, and Carmax has it for less, then go there.

If you are going to a dealer, they expect you to haggle. I'd expect no less than $500 on a $7K car. Cars (like everything else) are selling slowly, and you can get a better deal if they've had the car on their lot a while. Avoid naming a price. If you give a range, the dealer will try to sell you something at the top of or more than the top of the range you give him. If you walk in saying you are spending $7K, he'll show you some crappy cars at $6.5K, and then show you cars at $8K or $8.5K. You can probably get those cars at $7K or a few hundred more. Do keep supply and demand in mind though--I wouldn't expect a hybrid (if any exist on used car lots) to go for less than retail blue book--while an SUV could go a lot lower. We still remember last summer's gas prices, even if they are back down now.

Other tips: Don't say the word "today" until you found something you like. It's a cue for them to start pressuring you, because you have made up your mind, even though you didn't tell them. If you can't get the price you want, walk out. You may get a call back from them with a better price later. Also, if you aren't afraid of the time wasted, this can let you know what a real price should be. If you haggle and they say they can't make the deal, you walk out, and they don't call you, you know you asked for too much and can do better at the next dealer.

Finally, some of how you go about it depends on the salesman. Some will keep trying to show you cars, will duck when you start talking price, and keep everything hidden--so keep everything hidden from them. Others will get an idea of what you like and what you want to spend, and will check their price sheet for the best bargain on the lot that fits what you want, and see if you bite. Figure out who you are dealing with and work him. That's what he's doing to you.

How To Haggle Car Prices

You should find the real market value of any car you think you want to buy. Use kbb.com or nadaguides.com. That will tell you whether the price being asking by a car seller or dealer is too high, or about right.

Dealer prices are asking prices and you can nearly always get a discount. But if you don't know the real value of the car, you won't know what's a good price. For example, a dealer has a car worth $5000 but lists it at $7000. If you "talk him down" to $6000, you think you got a $1000 discount deal, but the dealer makes $1000 more than he should have. You paid too much because you didn't know the car was only worth $5000.

RE:

How to haggle down the price of a used car?

I'm going to look at some used cars from dealers soon, does anybody have any advice on how I could haggle down the price? Also, does anybody know in general how much I can realistically haggle (ie. is it realistic to bump $500 off a car that is listed as $7000)? Thanks alot everyone!

My husband is an ex car salesman. Here are what he calls the 3 most important tips for people buying or thinking about buying a used vehicle.

1-DO YOUR RESEARCH-You need to be prepared when you go in. Know KBB and NADA value on the specific vehicle you are looking at. Take notice of anything wrong with the vehicle, be extra-observant ie) dents, dings, scratches, squeaking of brakes, cracks in any glass, low tread of tires, leaks from under the hood, lights that dont work, ect... all of these things are fairly major bargaining chips.

2-USE WHAT YOU KNOW TO BARGAIN-You can say well, book is $7200, but I'm going to have to replace all 4 tires soon, and it's due for a tune up including spark plugs, wires and so on. So, therefore, I'll give you $6000. Don't make your offer too high that they're taking you for a ride. And don't make an insultingly low offer either.

3-BE PREPARED TO WALK- If you've made an offer, and the salesman won't budge, you have to be prepared to say no and walk away. Salesmen make the most money selling used vehicles vs. new vehicles. The salesman will do anything to sell it, with in reason.

If you can present a full cash payment of $6000 you may wind up with the car.

Search for the same model at other dealers and compare prices. You have the power to deal anywhere. As the buyer you are in control.

when you walk in ask to see there galves book. the galves book is the book that says what they own the car for. ask for that price plus like 500 bucks because the dealer needs to make some money.

also kelly blue book means nothing to dealers. so pay no attention to that, look at other dealers prices on the same car and tell them you will go else where, they will pay attention to you as all the dealers need to sell cars. they are really hurting

In this economy.....you better start off with knocking off $2000!!!! REALLY.... Research the car, check out other dealers and the local papers, get other quotes, look online and do a Kelley's Blue Book search. You make the offer....tell them...."I'm willing to pay $5000 and pay the taxes and title fees and that's it! If you're not willing to work with me then the next dealer is!!" Be firm and don't back down. It's even okay to say "thanks for your time but I'm going to find someone that is willing to work with". And it's okay to leave and keep looking! I wish you the best of luck with everything.

Check prices from places like Kelley's Blue Book.

Get the details and then start at the wholesale price or less.