Top-5 price busting tips when buying used luxury car in Dubai

Buying used luxury cars have become the trend of the 21st century. Car owners are increasingly coming to realise the tremendous benefits of buying a used luxury car. However, when it comes to actually choosing a car suitable for your needs, which would also meet all your expectations, things get a little trickier.

The truth is that there are certain events in life we dread facing: marrying, asking for a rise, looking for a new job or going to the dentist. However, none of them can match the event of looking for used luxury cars.

Not a lot of people actually enjoy the “thrill” of hunting cars and negotiating the right price. Most of us would simply love to buy a good car but avoid getting taken for a ride.

When it comes to negotiating prices when purchasing a used car, it is imperative to be aware of some facts and tips. The following 5 tips will help you stand on top of this daunting process, allowing you to select the right used luxury car for your needs.

1. At least two years old

When it comes to buying a used car, you need to be smart. Luxury cars that have between 2 and 5 two years since manufacture still look nice and have fewer problems than other used cars. In addition, what’s even more important about these cars is that their wholesale value drops by over 50 per cent of its original price after 2 years. You can truly say “what a bargain!”

2. Find the right value

You need to conduct a thorough research in order to know what the ideal price range you can negotiate is. If you are unable to determine the real price of used luxury cars, you won’t be able to negotiate for a used car. In the negotiation game, the true power is represented by knowledge. Not only the dealer or the car salesman should have the most information, but the buyers should also have access to precious pieces of information.

Before meeting with a dealer, there are two important things you need to remember:

• Never tell the dealer what you are looking for or the amount of money you are willing to spend.

• Find as much info about the type of car you want to buy before walking into the dealership.


How to find the right value? Check the National Automobile Dealer’s Official Used Car Guide and Kelley Blue Book Used Car Guide. Do not simply check on Google, but study these two books in order to get closer to the wholesale value, which is the value taken into consideration by the dealer when setting the price. Fine tune your estimate by checking with autotrader.com or other similar websites for prices of second-hand luxury cars in your area.

3. Research financing rates

Normally, you should pay in cash when purchasing a luxury used car. However, sometimes you don’t have $50,000 in cash to spend on your next big purchase. This is when auto financing could come in handy, especially as it is the easiest option you have for getting your dream car.

However, when it comes to financing, working with the dealer is not the best choice. Each dealer makes additional money by requesting a loan from the bank. So why working with him, when you can get a lower interest rate and better deals looking for a car loan on your own? Check with your bank and look for unique opportunities out there.

4. Start dealing

Now, after you know which car you want to buy, you know its price and you have found the best financing rate out there, it is finally time to start dealing. Use a “walking price” to convince the dealer you are serious about the deal. If he refuses the price, be ready to walk away. Remember that there is a 20 per cent gross margin, so offer 15 per cent below the asking price. Make him aware that you know of the wholesale price.

5. Keep away from add-ons

The last thing you need to remember is to turn down dealer add-ons. Each dealer wants to sell additional features like detailing or rustproofing, which can pump the price up by over 10 per cent of the original price. Remember that you want a top-quality used luxury car, which is also affordable. You can get the same add-ons later at a reduced price.

Bradley Taylor has an overwhelming love for everything automotive design and technology start-up companies He’s a big fan of luxury cars and you can always find him on Google+ or Twitter

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