Buying from a private Owner
The strategy we're about to outline is designed to help you get the best deal possible from a private owner. This a fairly aggressive strategy and many people may not feel comfortable with it. However, we uge you to read it and select those ideas and concepts which you can build into your own buying strategy.
Don't Knock the Car
Some people think that they can reduce a seller's resistance to makir; a deal by insulting the car and suggesting that it's not worth the askin. price. Don't do that. Remember, they've been living with the car for several years, and any insult or disparaging remark directed to the car is very often perceived by the seller as a personal insult to them.This does not mean, however, that you should not conduct a negative walk-around. By all means, you want the seller to know that you are aware of all the car problems, big and small. The key is to adopt a tone of commiseration-"Oh, wow, who did that to you?" Or "It's obvious you've really kept this car in great condition. What a shame that your service mechanic didn't pick up this oil leak. " Even if you know that the seller probably is fully aware of the problem and may well be the cause, always help him or her save face by blaming some third party-real or imagined-for the problem.When you get ready to do your inspection, tell the seller that you really got taken one time and that you promised yourself, your wife, your dog-anyone you can think of-that you would not buy another car without a complete inspection first by you and then by a professional mechanic. Might as well find out up front if there's going to be any resistance to taking the car to a shop for an evaluation.We recommend that you tell the seller exactly what you're going to do. Show him or her the checklists. If they know there's a problem with the car that they've neglected to mention, you might well see a few beads of sweat pop out on the seller's forehead
Make your inspection
Do your inspection as outlined in this segment and keep notes. Remember, every problem, every sign of wear, every scratch, becomes fuel for your negotiation.Take as much time as you can afford. Wear the seller out with your attention to detail. But keep reminding him or her you're a real buyer and the cash is in the bank just waiting for you to write a check. You might want to insert comments like:
"I like cash deals, how about you?"
"I really want to get that money out of the bank before my wife (or husband or whomever) decides to spend it on the house. " The message will get through.
If the car passes your inspection, make arrangements to have it evaluated by a professional. As we suggested earlier, leave your car for ransom if that appears practical and safe. On your way to the mechanic, you might, as we explained earlier, want to stop in at a couple of used-car lots to check the going market value of the car. Let's say that their estimates average about $9,100. Chances are they believe they can get a couple of dollars more at auction. Once the inspection is complete, sit down with the seller and let him or her know what you found. Go over the mechanic's report and the esti¬mated repair costs. Be sure you point out all the problems. But do so in a positive way. Never blame the seller. Use phrases like:
"Well, you expect some wear and tear. "
"What people will do to your car in a parking lot. " Finally, pose this question:
"If we were to agree on a price, would you rather make these repairs or would you prefer just to deduct them from the price?" You might also offer to let the seller call the mechanic to verify that the repair estimate and the mechanic are legit.
Getting the seller to pay for repairs
Chances are the last thing the buyer wants is to be bothered with making repairs, and he or she is certainly not interested in investing any more money in the car. So right away you've established a discount that you can factor in later. To cement the verbal agreement, make a big note on the mechanic's checklist as the seller watches:
It's not necessary that the seller sign it. Just be sure he or she is fully aware that you consider it to be part of the deal.
Getting to "least"
At this point, let's say you've established that it's going to take $500 to complete the repairs. After writing down the "note" about the seller's willingness to pay for the repairs, put all your paperwork and notes away and abruptly change the subject. Talk about anything, but get off the subject of the car. Your objective is to relieve the seller of having to think about the $500. What he or she doesn't know is that you've already begun the negotiation and that the first round goes to you.Without warning and maybe even in mid-sentence, abruptly turn to the buyer and in a pleasant, almost matter-of-fact way ask:"What's the very least you'll take for this car?"Say nothing until the seller responds. Stare him or her right in the eye with an expression that says after all this time you and I are not buyer and seller-we're friends. No matter how great the temptation, say nothing!"Well, 1'd like to get $1,2, 000, " the seller says or "I'm asking$1,2, 000. " Score another one for your side. But you're not done with this tactic. Before he or she gets a chance to say something about your offer, come back with:"I know what you'd like to get. But what is it that you'll take?" If the seller responds with a number, you can generally assume that it is not the least he or she will take. But no matter what figure the seller gives you , just shake your head sadly and say:"You know, I was looking at a car similar to this at a dealeship. the other day and while it had, a , few more miles-not many more-the price was about the same as yours. I figured that since a private seller doesn't have the same kind of expense a dealer has, I
might be able to get a better price.
Plus, they offer a warranty. "At this point the seller is probably going to want to know what you plan to spend. What this confirms is that his "very least" is not his very least. At this point you act a little embarrassed and say, "You know, I am a little embarrassed. I was hoping that you might be willing to let if go for around $ 7,500. " Then add quickly. "And I'll give you a check right here, today. "At this point the owner is going to say that there is no way he or she can part with the car for that price or that what you're offering is below book value, etc., etc.
This is where you make your exit. Act I is over. However, as you leave, you want to firmly plant the idea that you're going to see if you can come up with some additional money.
Act 2
Now you start calling ... as a friend. Tell the seller that you've done some research and discovered that the wholesale value of the car is $9,100. Say that you have scraped together some more cash and can offer them $8,765. Don't quote a round number. It should sound as if you've really scraped together the cash from your piggy bank. This conveys the impression to the seller than you're about as far as you can go financially and that if he wants to get rid of the car, he's going to have to deal with you in that range.used-car salespeople. Especially if you're dealing at the end of the month.
Candidly, the seller may simply turn you down and revert to the $12,000 figure. If so, be prepared to walk away. However, if this person has had the car on the market for a week or more, he or she will be very anxious to sell it. And unless it's a high-demand car, they may wonder if you're the last potential buyer they will see. Plus, now that they know the wholesale value is only $9,100, the need to make a deal may well motivate them to continue to negotiate.
"Look, " the seller might say, "if you can come up to $9,300, we JIave a deal. "You can counter with $9,100 or $9,200 to be sure that you're not ,pending any more than you have to. Let's assume for this discussion vhat you settle on $9,300. It's time to pay for the car.
Act 3
After you've gone over all the papers and the title and checked the vehicle identification number (VIN) against the one on the car, you're ready to part with the money. You give the seller a certified check or money order for $8,800.
"We agreed on $9,300!" might be the response.At this point you pull out the mechanic's checklist and your note that the seller has agreed to deduct the $500 for repairs.
If the seller gets upset, just point to the note on the inspection -sheet. If he or she lives up to the agreement, fine, you've done well. If the seller tries to back out, you can either offer to absorb part of the $500 or you can walk. If you walk, do so slowly and after showing a lot lisappointment and sadness. As you start to leave, make it clear vou'd still like to make a deal and if the owner should have second ughts, you're only a phone call away. This is one of those situations ' requires you to play it by ear.
Not your style? No problem
while this may not be your style, you can see via this example having a pre-purchase buying strategy can work to your advante_- A variation on this scenario might also be helpful in dealing with
