Nobody with any decent amount of haggling skills pays the ticket (or asking price) of an item at the flea market.

If you’ve been to a flea market any time recently you probably came across some great hagglers. And why are some of these pickers so confident in their negotiating skills? Well it’s probably because they know their stuff –they know the value of items they’re looking for, know the market trends, how much items go for in different venues, and what they can get away with offering while backing it up with facts. And the same can apply to buying a used car. Knowledge is power when you’re on the prowl for a pre-owned vehicle. Here are some tips that may improve your negotiating (or haggling!) abilities.

Knowledge is Power –So research, research, research so you don’t have to do any Haggling!

If you’re visiting a car dealership or a used car lot, blind (that is having done absolutely no research and going for a casual ‘look-see’!) then good luck with that. In the car buying business, the salesman has most of the information and therefore they’re in the driving seat of negotiations. You may tell them exactly what you’re looking for and how much you want to spend, but they may not be so quick to let you in on the car’s secrets. So don’t be a Chatty Kathy when you get there. Instead, arrive armed with as much information as you can muster about a specific car you’ve spotted and then start peppering the salesperson with questions. You’re now in a position to haggle, backed up with facts at your fingertips.

Know the Car Selling Ropes

Most people don’t know how car dealers make their money so make sure you’re up to speed. Dealers make money in three different ways. They make money on the front end of the purchase by selling the car for more than they paid for it. They can profit from the back end of the sale, by selling you financing options, extended warranties, and dealer add-ons. And they can also make money from trade-ins. Being aware of how dealerships work will help you negotiate and be better prepared if you’re feeling pressurized into purchasing additional stuff.

Search for Used Cars that are at least 2 Years Old

These vehicles will be nearly new, have fewer problems, and will still look nice (if they’ve been well cared for!) A new car’s wholesale value drops between 45 and 50 percent of its original sticker price after two years. So this is an opportunity to get a good deal on a newer used car.

More Research Avoids Haggling…

Do some cross-checking on the most reliable cars, prices, and frequency-of-repair records, through resources like Consumer Reports, Kelley Blue Book’s Guide to Used Cars and the National Automobile Dealer’s Official Used Car Guide. To find prices in your area, check autotrader.com. Then you can do a general search yourself to see what a particular make and model is going for through private sellers on various selling sites like Craigslist.

Car History Reports, etc.

And when you find a used car you like, please get a CarFax or Autocheck report, and explore financing options other than through the dealership, so check with your bank for information on loans and interest rates. Arriving at a dealership pre-approved for a loan is of course a haggling advantage. So what are you waiting for? Get out there and haggle your way into a bargain!