It's finally time to wrap up the series on how to find a good used Range Rover. If you missed the earlier ones, you can check them out in the card on the screen now, but today we're talking all about the results of a pre-purchase inspection, how to read into what it means, and how to negotiate with the seller about the price.
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Read More & The Example: downforce.xyz/negotiations-on...
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How to Inspect a Used Range Rover: • How to Inspect a Used ...
How to Find a GOOD Used Range Rover: • How to Find a GOOD Use...
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As far as inspections go, most service centers will be able to walk you around the car and go through the list with you if there are some more major concerns. If there aren't any major concerns, odds are they won't take time to walk you around the car. Regardless, I would ask the service advisor to walk you through the report so that you know what they found and if it means anything.
My inspection report on this L322 mentioned two issues that are pretty common - front lower control arm bushings and brake fluid flush. Both were a stupid simple fix, but being new to everything, I had no idea how much that would cost or how how long it would take to complete. From there, I would recommend asking for quotes on anything they found, if they haven't provided them already. Most service centers will give you quotes right away with the inspection, but if you don't have them, get them in writing.
One of the reasons you get an inspection is so that you can have the upper-hand in further negotiations. While the house always wins, you can still get what you want at a fair price. Once you have a third-party opinion on the condition, negotiations are pretty easy because you know the condition of the car.
Right now, a fair market resale value for a late L322 Range Rover is roughly $19,000 with average mileage and in fair condition. If you find one in perfect condition with low mileage, you'll be paying a premium. On top of that, higher end models have a slightly higher sales price. Obviously, that's all expected, but the average asking price right now is $19k.
So let's start at that price. Assuming we have the dealership willing to sell us the world's most average late-L322 with an average condition, average spec, and average mileage, we're looking at an average price of roughly $19,000. Obviously, we want to get that price down as low as possible. Here's what we can do.
If the list price of said Range Rover was $22,900, start negotiations slightly lower than what you're actually willing to pay. For example, known the average price is $19k, we're going to see if we can get the dealership to let it go for slightly less. With that, start around $17,900. You can go more or less depending on your own methods, but you need to at least show you're willing to go up some, which is why you're starting lower. However, be sure to make it clear that you'll only be buying it if the inspection goes through. Don't sign anything stating you will purchase it, but show you're serious by allowing them to run your credit or by bringing proof of funds.
When I bought mine in October '16, it was listed around $31,000 originally. After watching it on that lot for 3 months, I finally made an offer and got it for roughly $24,000. There's always more room, but this is where we landed. My original offer was $22,000, which was $2,500 less than what I was willing to pay at the time, so I ended up getting it for exactly what I wanted to pay by doing this. But the point to that story is this - let the car sit on the lot long enough for the dealership to be READY to sell it. Usually, 80 days will do the trick.
With it, you can either ask the dealership to pay for the repair after purchase. This can be done at face value where they agree to pay for the repairs, or, more likely, they'll give you a credit off of the price for the amount of the quote. If you agree for them to pay for the repair after purchase and not lower the price, get it in writing. Otherwise, it's their word against yours, and they'll probably win that one.
On top of that, for something simple like that, you can always have them take that amount off of the price and find an independent specialist who will do the repair for less. While you still end up paying, you at least saved some money. Whatever you do, though, make sure it's in writing BEFORE you sign your agreement to purchase.
3 янв 2019
