In the market to buy a used car? There are a few things you can do to ensure you’re getting the best price on your next purchase, regardless of where you buy it from or what car you’re after.
The used car market is huge in the UK with over seven million used cars changing hands in 2024 alone. The past five years have also been a rocky time for the market. Covid-19 rocked it into panic as new car stocks dried up and prices rose, further exacerbated by the war in Ukraine and the supply-chain issues that brought. The final whammy was the cost-of-living crisis, all of which led to used prices skyrocketing.
While prices have now softened dramatically, there are still some steps you as a shopper can take to ensure you’re not overpaying for a motor. It can be daunting trying to get the price down on a car but the cash-saving possibilities are endless. Some of these tips won’t even require you to barter with a dealer.
While it’s unlikely you’ll be able to negotiate 50% off the asking price, with these tips at your disposal you’ll be surprised at how much cash you could save.
The steps to take to get the best value on a used car
Know the car inside and out
When looking for a car you’ll undoubtedly have a set of criteria in mind. Whether it be boot space, fuel economy or tax, you’ll start to whittle down the choices fairly quickly.
Once you’ve settled on a make and model of a car, now is the time to do a deep dive into learning about it. We don’t mean researching special editions or who designed it, but what the common problems and what to look for.
You could ask a mechanic or spend hours trawling owner forums. Or you could read one of our expertly written used car reviews to help learn everything you need to know about a specific car, including common issues to look out for on the test drive.
If you know the car well it puts you in a stronger position to lower the price. No ‘they all do that,’ will be able to pull the wool over your eyes. Call out known problems, probe them on maintenance and it’ll give you a fuller picture of the car’s condition, and room to even ask for a bit of cash off to sort any common problem.
Know the car’s market value
The used car market works like any other market, something that’s too expensive won’t sell. Whether that be a Ferrari or a Fiat, knowing a car’s place in the market is crucial if you want the best value possible.
Naturally, we recommend using the Parkers Valuation Tool as a free and simple way to find out the value of any car. The free version will give you a valuation guide depending on estimations made on the entered make and model, or number plate. For an even more accurate valuation, a couple of quid will let you add mileage and optional extras for a custom valuation. These two factors can affect valuations by as much as 30% so it’s worth knowing the real value of a prospective used car.
Do a vehicle history check
A nice-enough car could be hiding some pretty scary skeletons in its closet that may not be immediately visible. Whenever you’re planning on buying a used car, make sure you do a vehicle history check.
The Parkers car and vehicle history check is the cheapest HPI check on the market. Enter the car’s registration number and you’ll check the car against records from the DVLA, Society of Motor Manufacturers & Traders (SMMT), the police, The Association of British Insurers, and numerous finance companies.
It’ll ensure you aren’t buying a car with outstanding finance, a bodged-together insurance write-off or a car of police interest. This isn’t a negotiation tactic, any car flagged shouldn’t be touched with a barge poll, but it could save you a headache that costs thousands of pounds.
Check the MOT history too. If it’s due soon the seller may be desperate to sell to avoid an expensive repair bill. It’s an incredibly risky gamble that can backfire, but a surefire way of getting a hefty deposit.
Don’t be scared to negotiate
It can be daunting asking for money off a car when you’ve gone to inspect it, but don’t be scared to try. Small imperfections like dents, damaged alloys, scratches or upholstery tears are gold dust for getting some money knocked off the price of a used car, even if it’s a couple of quid.
Worst case scenario is that they don’t budge and you either cough up the cash or walk away. There’s nothing to lose in asking.
Pick your time
When car shopping, the time of year can have a dramatic impact on prices. The obvious one is a used convertible in the summer will be in greater demand and command a higher asking price than in gloomy January. A looming economic recession will have low maintenance, efficient cars in high demand, and tax changes can see prices shoot up or flatline.
In short, think about what other people are shopping for. A car in low demand will be ripe for talking down the price, while popular cars on the used market will sell quickly which leaves less room for lowering the price. It is worth noting however that plate changes take place in March and September each year and can help bring down prices for nearly new cars, even if they’re on the bestsellers list. After all, a fresh plate is more desirable.
Inspect the serviceable parts
Every car features serviceable parts that will need replacing over time. Simple things like bulbs, wiper blades and filters all add up in maintenance fees and can be a bartering technique.
Tyres are an obvious starting point. Check the tyres and see how much wear there is as a minimum. If they’re browning, cracked or looking a little sorry for themselves it can all be a sign they’ll need replacing soon which is a great way to negotiate a couple of hundred quid off the price. Equally, if they’ve been slathered in tyre shine it can be a sign of mutton dressed as lamb and potentially point to an unscrupulous seller.
Sightly cheeky tip here, but buy a car running on fumes and you can ask for a couple of quid off to fuel it up.
Avoid extra costs
You can be bombarded with optional packages if you’re buying from a dealer, and we can firmly recommend saying no to them all. An extended warranty is a good idea, but shop around we can guarantee you’ll get a better price than what a dealer will offer you.
It’s the same with paint and interior protection packages, they’ll have a handsome markup on them and can be skipped. Spend less and do it yourself with a ceramic coating kit or pay a detailer to do it to a higher standard for less.
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