How to Make an Offer on a Car

Do your research. Don't go into a deal without the facts. You should know how much the value of the car is before setting foot on the showroom floor. Or, if you are purchasing a used car, you should know how much the car is worth for the features it has and the shape it is in. There are web sites, such as Edmunds.com and KBB.com, that allow you to type in all of the details of the car in order to get an appropriate value.Make an Offer on a Car Step 1Bullet1.jpg

Compare prices to comparable cars. Cars, just like anything, have peaks and lulls in sales. It is important to know if cars are selling for more or less than their market value when you are ready to negotiate a purchase. Looking at several lots and web sites for similar cars will help you to get an idea of the current prices.Make an Offer on a Car Step 2Bullet1.jpg

Factor in your trade-in. When deciding how much you can afford to offer, consider how much you will be able to shave off the price if you are trading in another vehicle. Know before venturing into the deal what the market value is of your current vehicle.Make an Offer on a Car Step 3Bullet1.jpg

Negotiate. Cars are priced with negotiating in mind. Even if it is just by a few hundred dollars, every seller expects to be bargained with. Don't be afraid to be firm from the beginning about what you want to pay for the vehicle.Make an Offer on a Car Step 4Bullet1.jpg

Be prepared to walk away. When you say you are making your final offer, mean it is your final offer. If the seller still comes back at a higher price than you ultimately want to pay, walk away. They will almost always come around and meet your price (as long as it is within reason) if they realize you are serious about walking away from the deal.Make an Offer on a Car Step 5Bullet1.jpg

Read the fine print. Be sure you are aware of all of the extra fees that are associated with purchasing a car as you make your offer. Between insurance, monthly payments, and your loan interest rate, it is important you know exactly what you are signing for. For example, the number of months your loan is for is more important than the amount of your monthly payment, because ultimately you will just be paying more for longer. Scour the details before the agreement is finalized.