You need a new car, but you’re just not ready? Even if you have money or great credit and you know all the details of the car you want, there is still one thing standing in your way… Negotiating the price!
It can be uncomfortable or even scary, but you’ll have to do it at almost every car dealer. Being a good negotiator doesn’t have to be difficult.
When you are trying to negotiate with a car dealer, you should know that they are very practiced in the art already and will hit you with everything they have. You will need to know how to get through their "car speak" in order to be successful. Here are a few tips to successful negotiating.
- Remain positive and confident.
- Don’t talk down to your opponent.
- Show up prepared and ready to counter anything that may come up.
- Bring ads from other dealerships with you as an extra weapon.
- Finance your loan before you arrive at the dealership so as to avoid paying unnecessary extra fees.
- Don't talk about how you will purchase until the price has been negotiated.
- Don't talk in terms of monthly payments - talk full purchase price.
- Bring a friend or even two with you for extra support.
The key is for you to get in and out of the dealership as quickly as possible because the salesperson will definitely find more loopholes to up your charges if you stay. You have to remember that they are trying to negotiate you into paying more money just as you are trying to negotiate paying less.
Here are some things you can expect to hear from some salespeople:
"These cars are flying off the lot."
"This deal is only good for today"
"If you come back tomorrow I can't guarantee that the deal will be the same."
"I have another offer on the table from someone that is willing to pay more."
"I have an appointment later today on this same car."
When you hear these nice little one liners you can either leave, or ignore them. Either way, don't take these statements seriously.
If you want to save money while you are negotiating you should negotiate from the dealer cost up and not from the MSRP down. You just need to remember that dealer cost is not the same as the factory invoice.
Some dealerships refuse to haggle over the cost of a car. Arming yourself beforehand with knowledge of the invoice cost and incentives for the particular vehicle of interest will enable you to determine if the no-negotiating price is a fair price acceptable to you. If the price is over-inflated and the dealership won't deal, don’t sweat it, some other dealership will.
Keep these tips in mind and be prepared for the salespeople. If you remain strong and confident, and don't let the dealer push you around, you can get your new car for the price you want.
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