1. Do you have a minute? I’d like to learn more about the vehicle.

Advice: Make sure you’ve read their AD before asking questions.

If they’ve written an answer to one of these questions already - confirm it. 

2. Just curious, why are you selling? (Take Notes)

3. How long have you owned it for? (Take Notes)

Advice: If the AD says owned for 4 years - reaffirm this. E.g “So you’ve owned it for 4 years, right?”)

4. Are you aware of any accident history? (Take Notes)

a) If YES - How many accidents? How much was the accident(s) for?

b) If NO - Have there been any insurance claims? E.g hail damage, break-in, vandalism

5. Do you know if it needs anything mechanically or cosmetically? (Take Notes)

6. Are you making monthly payments on the car? (If it is an older vehicle, just reaffirm that they aren’t making payments on it - if it is a vehicle within the last 4-5 years I still ask. If they are - in my opinion don’t trouble yourself pursuing this still)

7. Scale of 1-10, 10 being showroom condition what would you say your vehicle is? (Take Notes)

a) Optional follow up: What does it need to be brought up to a 10?

Advice: From here

● If you like the info you’ve heard, you can proceed to Step 2 OR let them know you will call them back if you feel more comfortable collecting info on other cars of interests.

● No longer pursue buying this car if you don’t like what you hear about it

STEP #2

Listing Price VS Selling Price

I’m just curious, for your list price of $23,000, did you get that off of (CL, Kijiji or Autotrader)?

Advice: 99/100 times the answer is yes.

Yes, I thought so... I’m going to be honest, I’ve been looking for this car on several sites, including dealerships. And the same vehicle, with similar mileage is being listed as low as $20,000. I just got off the phone with a dealership who has it listed for $21,000… that’s two thousand less than yours and they are including:

● Finance options

● Warranty

● Safety certification and reconditioned

● And it has been fully detailed - it’s a 10

On top of that he is willing to negotiate with me. I’m only calling you because I was interested in the colour of your vehicle and, like everybody else, I’m trying to save a bit of money. I get it you are trying to sell for as much as you can, and I’m trying to buy for as little as I can - you know how it is right?

Advice: This is something we can all identify withAll those things at the dealership really raise the value of the vehicle, and it’s list price by as much as 20%... but I can’t buy two cars. So, are you willing to accept something less than the dealership if it means making a deal today?

It means you’d have to come down several thousand dollars.

Advice: Stay quiet after saying this. First person to talk after this loses. Listen to what they have to say. From here

1. If they are picking up what you are laying down but you need them to come down more... you can go into more detail with Step 3 OR arrange a viewing time

2. If they really aren’t feeling what you are saying and are being difficult (this is different from resisting) then you can play hard ball and say you probably are going to go with the other option but will call them back if you change your mind

STEP #3

The Advantages of Dealerships

For example, that vehicle I told you about - the one I am talking to the dealership about - on their lot it’s listed for $21,000. The guy there told me they have fully reconditioned it to make it look like new again and have new tires on it. He said that it cost them like $2000 to do and that the $21,000 includes a warranty that’s valued at about $1000. On top of that they have an exchange policy. So I can buy it with complete peace of mind, knowing if I don’t like it, I can swap it out.

As if that wasn’t enough, the dealer is willing to negotiate with me an additional 10% reduction off the $21,000 since he has been trying to sell it for about 50 days now - and that is at a dealership where they market it and have guys peddling it 6 days a week!

Listen - as much as I like your car, and want to buy it, it does not come with those same advantages, so I would be looking to spend less.

I’m taking a huge risk buying your car...So with all that in mind, if the dealer is willing to accept around $19,000 are you willing to accept something a little less? (Take Notes - how are they reacting, what number have they come down to?)

★ Mandatory: Ask for the buy. E.g “So if something a little less than $19,000 sounds reasonable I can come by today. Sound good?”

★ If they aren’t coming down to your expectations, set a follow up call time and date. E.g “OK - why don’t I give you a call back if I don’t go with the dealerships vehicle after the weekend? From here

1. If they are picking up what you are laying down I will usually try to arrange a viewing time while they are hot

2. If they still aren’t where you need them to be I will schedule a follow up call where I will talk about Step 4

STEP #4

Lowering Price Expectations (Additional)

Advice: Think of yourself as a consultant. You are providing information, and letting them make a choice. Step 4 info is provided in note style to give you ideas.

5 Effective Lowering Price Techniques

1. Depreciating Asset

Time: is not on their side. With each passing week/ season - the vehicle loses some of it’s value

Odometer: driving and adding more km to it further lowers its value. “I read somewhere it is as much as 80 cents per km! Is this car their daily driver?”

“The most you will get for it, is if you sell it today, regardless of who you sell it to. The vehicle will continue to depreciate.”

2. Time to Sell

“The average time to sell a used car privately in Canada is 90-120 days. And that is IF you manage to sell it. Over 60% of the population end up giving up and just going to a dealership to sell or trade-in. And you were kind enough to share with me what a dealership offered you for the car...and I’m willing to pay a bit more than that!”

“Even at a dealership this vehicle may take more than a month to sell. That is with marketing $$$ behind it and a sales team working 6 days a week AND with all their dealer advantages (warranty, finance, safety etc)”

“Are you comfortable waiting potentially 3 months to sell it for less than what you could get for itif you sold it today?”

3. Monthly Payments

The seller is losing money each month in payments for:

Gas

Insurance

Parking

If there is a lien on it: Would advise just staying away (for now)