Car Buying 101 Tutorial
Car Buying 101 Part VI
Buying a car through private party, using classifieds like craigslist.com, offers opportunities for bargains and should not be overlooked. One primary difference between auction and private party seller is that the vehicle will sell on a specific date at auction to the high bidder whereas a private party seller can continue to advertise for as long as he or she wishes without an obligation to actually sell the car.
On the other hand, people sell vehicles for all kinds of reasons, not the least of which is because they were dissatisfied with the trade-in offer they got from their dealer when they went to buy a new car. These people tend to think the dealer was trying to rip them off, and who knows, they could be right about that. But then again they might be unrealistic about the value of their car.
When you go to negotiate with these people, keep the Blue Book hidden, and use it only if you need to. If you can negotiate the seller down to a desired price without having to use it, you never need to clue them in on the Blue Book values; otherwise you could end up arguing over low and high Blue Book values and which one applies to vehicle at hand. Obviously from your standpoint, you only want to consider low Blue Book, especially since the seller is not a dealer and can’t justify a retail value.
Sometimes people sell because they are financially distressed and if you can sense that is their position, you may be able get them to lower their price substantially. When negotiating, it can’t hurt to try to get a lower price by offer a lowball price the first time. You can always come up if the seller doesn’t go for it.
Buying a vehicle from a private party leans more to the best deal side of the equation rather than the hassle-free side because of maintenance issues. Ask yourself if you are willing to deal with these issues before you decided to buy. Look for the obvious signs of an oil leak on the seller’s driveway and ask the seller if maintenance records are available. People who maintain their vehicles properly tend to hang on to their receipts. Don’t forget to factor in future maintenance issues into your offers because once you buy the car, you will have no recourse with the seller, and you will be responsible for everything.
