From Sticker Price to Final Offer: A Step-by-Step Guide to Negotiating the Price of a Used Vehicle

You’ve picked out the perfect car, truck, or SUV from our used vehicle inventory. You crunched some numbers with our payment calculator. You’re ready to test-drive the vehicle, too. 

But you want to get a better deal on the purchase of a used vehicle. What many people don’t realize is that they can negotiate the price of a used car, truck, or SUV. The trick is to come prepared with current information that backs up your lower price at other dealerships. 

Read more with our step-by-step guide to negotiating the price of a used vehicle with other dealerships. Thompson Sales features no-hassle pricing, which means you’re already getting a great deal on a quality used vehicle. Just take a look at our CARFAX notes on vehicles with a “Good” or “Fair” value.

1. Research the Market Value Using Online Tools

When you peruse our used and certified pre-owned inventory, you’ll see one of three levels of value listed by CARFAX. Great Value means you’re getting a price much lower than the one calculated by CARFAX based on the vehicle’s history. Good Value means the price is lower than the CARFAX value. Fair Value indicates a price slightly above the CARFAX-estimated price. 

When you negotiate the price of a used vehicle, having more information at your fingertips is vital. We recommend using other online tools to find the value of used vehicles similar to the one you like on our lot:

• Kelley Blue Book
• NADA Guides
• Edmunds
• JD Power
• CARFAX
• Consumer Reports
• Car & Driver

There are limitations to these online tools. They don’t take into account the popularity of vehicles for sale, and they won’t know the actual condition of the vehicle on the lot. We encourage you to fully inspect the used vehicle you’re interested in before buying one. 

2. Compare the Price of a Used Vehicle to Similar Ones in Your Area

One key to negotiating the price of a used vehicle is to find similar models in your area. For example, you discover an outstanding find among Thompson’s used inventory. You can search for a similar vehicle in Springfield, Nixa, Ozark, Branson, and even Joplin or Northwest Arkansas. Many sites aggregate information from several dealers in one place, making it easier to compare prices.

Once you locate one of these other models, compare the features, trims, mileage, and repair history of the vehicles from other dealerships to the one at Thompson. Are the features exactly the same? How about the mileage? Do these vehicles have similar repair histories? Are the prices lower than the ones at Thompson?

Print out these listings or save them to your smartphone. Bring this information with you when you negotiate the price of a used vehicle at Thompson Sales. Again, the condition of the vehicles on other car lots might not be up to the standards of the ones at Thompson.

3. Take Your Time to Find the Best Deal

If you can wait a few months before buying a used vehicle, take your time to find the best deal. Waiting to find the best deals allows you extra time to gather more information from other dealers. 

The downside to waiting is that the inventories of car lots can change quickly. Locating a similar vehicle in your area might change from week to week. But that also means the vehicle you want could be gone before you’re ready to buy. That’s where our vehicle finder service comes in handy. Just fill out the form, and we’ll get to work finding your ideal used car, truck, or SUV.

Pro Trips When Negotiating the Price of a Used Vehicle for Sale at Other Dealerships

We’ve got four pro tips to keep in mind when negotiating for the best deal you can find at other dealerships.

1. Don’t Be Afraid to Walk Away & Start Over

If the dealership and you can’t come to an agreement on the final price, don’t be afraid to start over with the process. Perhaps you can find another vehicle that fits your situation. Keep in mind there are differences between what you need and what you want for a vehicle. Prioritize the features you want when shopping. Can you drive comfortably without heated front seats? Are you okay without a rear-view camera? Do you need a more powerful engine? Re-prioritize your shopping list when looking for a quality used vehicle for sale if the one you really like is still out of reach for your budget. 

2. Lower Your Loan Amount by Saving Up for a Used Vehicle 

Another strategy for affording a used vehicle is to save for it. Lowering the amount you need to finance means a lower monthly payment and possibly a better interest rate for the loan.

Start saving as soon as you know you need a vehicle. What can you leave out of your monthly household budget to save back for a larger down payment? Can you go without your daily $2 cup of coffee on the way to the office? Perhaps eat more meals at home rather than eating out. Every little bit helps, and small savings here and there add up over time.

Do you have a current vehicle you can trade in? The value of your trade-in can increase your down payment amount, which would lower your auto loan payment even more than plunking down more of your cash. In general, we recommend putting at least 20% of the price of the vehicle toward a down payment to avoid negative equity in the loan.

Another strategy is to look at our inventory of vehicles priced under $20K. You might find some great bargains there on some vehicles that were well-maintained by their previous owners.

3. Pay for the Vehicle With an Auto Loan

Another strategy that car dealerships may not tell you is that having an auto loan for your purchase might actually lower the price of your vehicle. Car dealerships might get incentives from lenders to get an auto loan. The finance teams at dealerships may get incentives from auto lenders to bring more business their way. So, car shoppers win when this happens because it could lower the final price of a vehicle.

4. Apply for Financing at Thompson Sales

Another aspect of your car-shopping experience is auto loan financing. Not all car lots are created equal. Thompson’s finance team has long-standing relationships with auto lenders, and we’ll go to bat for you when negotiating the best financing options for you or your family. Apply for financing with our team, and we’ll get back to you with the results. 

Used Vehicles for Sale in Springfield, MO

Thompson Sales is happy to help you find your dream car, truck, or SUV. Talk to us about finding a great deal on an outstanding vehicle. We have no-hassle pricing, so what you see is the 

Contact us or call (417) 763-6811 if you have questions or want to take a test drive at Thompson Sales.