Want to save money on a car? Buy used. That’s probably a no-brainer but there are some things you can do to get an even better deal. Try haggling.
“I really did get a good price and I could afford it,” said used car owner Diane Diblin about her experience when buying a 2012 Toyota Corolla.
Used car salesman Carl Fitzgibbon at Lucky 8 Auto Sales in Vancouver loves the process. He says they tend to bottom line prices anyway, but it never hurts to try to get a better deal.
“Sometimes, sometimes. We don’t say we’re going to give a huge amount off you know, but if it’s the right car for the person, sometimes the owner of the place will be a little willing to do something, yeah,” he told CTV News.
According to a Consumer Reports survey, those who asked for a lower price were successful 80 per cent of the time.
The average price for a used vehicle five years or newer is about $20,000. You’ll probably pay less at a used car dealership but you could save even more if you buy privately, as long as you're willing to take on more risk. An auto dealer is regulated by the province to follow the rules to protect you.
“We have ICBC history on cars. We have inspection reports, so all that’s there for the consumer to see to make them be as comfortable as possible,” Fitzgibbons added.
Consumer Reports says some of the best used car choices are the 2012 Toyota Camry, the 2012 Honda Accord and the 2011 Toyota RAV4. They cost around $10,000 less than they did new and have proven reliable.
It’s recommended that you look for the most recent model year with the widest array of safety and technology features and try to find a vehicle with less than 60,000 kilometers on it.
One out of four people surveyed by Consumer Reports bought privately and tended to pay less and be happier with the deal. But you’ve got to protect yourself. Research the price, the vehicle history, pull your own ICBC reports, get maintenance records and inspect the vehicle before you buy. And be wary of how and where your meet the seller. Also, go with the seller to an Autoplan broker to complete the transfer.
