Obtaining a vehicle history report (based on VIN code) can be a valuable tool when negotiating the price of a used vehicle. Here are some tips for using a vehicle history report to negotiate the price of a used vehicle.
Review the report thoroughly: Before negotiating the price of a used vehicle, it is important to review the vehicle history report carefully. Pay particular attention to any accidents or damages noted in the report, as well as any open recalls or other issues. This information can be used to negotiate a lower price for the vehicle. We reccomend to use a CARVERTICAL service to check the vehicle history.
Determine the value of the vehicle based on the report: Use the information in the vehicle history report to determine the value of the vehicle. This may involve comparing the vehicle to similar models in the same condition, or using a pricing guide like Kelley Blue Book or the National Automobile Dealers Association (NADA) guide.
Use the vehicle history report to negotiate the price: Once you have determined the value of the vehicle based on the report, use this information to negotiate the price. For example, if the vehicle has a history of significant damages or repairs, you may be able to negotiate a lower price based on the potential cost of future repairs. Similarly, if the vehicle has a clean history with no reported accidents or damages, you may be able to negotiate a higher price.
Be prepared to walk away: If the seller is unwilling to negotiate the price based on the information in the vehicle history report, it may be necessary to walk away from the deal. It is important to have a clear understanding of what you are willing to pay for the vehicle and to stick to your budget.
Consider obtaining multiple reports: It may be a good idea to obtain multiple vehicle history reports from different sources to ensure that you have a complete understanding of the vehicle’s history. This can help you to make a more informed decision and negotiate a fair price for the vehicle.
Overall, using a vehicle history report can be a valuable tool when negotiating the price of a used vehicle. By reviewing the report thoroughly, determining the value of the vehicle based on the report, and using the report to negotiate the price, you can make a more informed decision and potentially secure a better deal on a used vehicle.