First of all, believe it or not honest is actually the best policy. Studies have shown that buyers are more likely to sign on the dotted line if they feel they can trust the salesperson or if they feel that they are being told the truth. By selling used cars with integrity and a good track record of honesty,  you are halfway to making multiple sales.

Second, keep the prices competitive but affordable. Just like the buyer uses information to get a line on the prices, you should too. Check the sources consumers are using online and in magazines and make your prices competitive. If you have prices that are too high, smart consumers will know. Nobody likes a used car salesperson who builds business on the backs of ignorant people, either, as it doesn’t help your reputation with customers. Charge a fair price.

With fair prices and honesty, you can make for one heck of a used car salesperson.

Most salespersons of used cars tend to be good people, contrary to the stereotype, but it is their job to make profit on the cars they sell. They will work hard to make a profit off of you and it is your job to minimize their profit and maximize your savings. This may make for some interesting and uncomfortable moments, but you should never be intimidated or rushed into making a deal you don’t like.

Don’t be afraid to burst away from the dealership running with your arms in the air if there is a deal you don’t like. It is well within your rights to bolt at any time and leave the salesperson in the dust, so don’t be afraid of backing out on a deal before you sign any documents. The key is, of course, to back out before you sign anything.

If there is any part of the deal you don’t like, leave immediately. There are some who say the best way to get a sweet deal on a car is to walk away up to three times before finally agreeing to negotiate again.

You just need to know where to look.

Buying a used car is as much about reputation as it is about the product. Investigate the used car dealer reputations in your area and find out which ones are worth dealing with and which ones are worth taking a pass on. This will help you establish a firm network of dealerships and outlets to frequent. There’s no point in wasting your time on a dealership with poor customer service and bad value rankings. 

As you’ve narrowed down your list of used car dealerships, take a friend or family member with you for a second opinion. Browse the car lot, get a feel for the vehicles on the lot and the condition they’re in, and talk to a salesperson. This will help you get a sense of the lot itself and how things operate. Is the lot clean? Are the used cars clean? Do the salespeople present themselves well?

We’ll continue this series with more tips on how to Master the Marketplace in our next entry, so stay tuned!