While it can be a lot of fun to get behind the wheel of your dreamed new or used car, only a few buyers find the process of negotiating a car’s price a pleasuring experience.
Nonetheless, you can get the car of your dream without getting stressed and without damaging your budget with some preparation and persistence which will help you to potentially save thousands of dollars. Our simple guide will give you the knowledge and information you need to approach the car buying process in a positive manner and learn how to negotiate car prices.
The specifics of how to negotiate the price of a car can vary depending on whether you are
purchasing a new or used vehicle. But there are some general tips for negotiation that you can apply in both situations. Here is what you need to know.
Research the market:
When you are going to buy a car the first thing that you need to do is doing some research before starting the negotiation process. You need to read all the information you can find about the average price paid for the car you want to buy. You can assess the value of the car you want to purchase by searching it on a website that follows and estimates car values, like Kelley Blue Book or Edmunds. This can help you to find out an evaluated average price range in your area and this figure will serve as the backbone of your strategy and will give you a reference point when you start getting price quotes from the dealership.
How to Ask for a Lower Price?
After the dealer presents the price, you could respond that you have done a good research on the market and are aware of the real value of the vehicle because you have shopped around a bit and ask whether he can lower the price to the point that you get from another dealership and then you could go into details and have a deal. This kind of response lets the salesperson know that you’re an informed and real buyer. So there is a good chance for the salesperson to jump to a lower price and get the customer from other dealers.
Negotiate the price online
One of the best ways to negotiate the price of a vehicle is by doing it online. When negotiating with multiple salespersons, consider doing so over email. This way, you will have all the conversation and prices in written form and they can’t change the price during in-person communication.
Negotiating over email may also make it seem less personal, which can help you keep emotion out of the process.
Tell about the price after doing test-drive
Once you test-drive the car, it is the best time to start negotiating on the price. When evaluating a car in person, present all the disadvantages and issues that you could use to negotiate a lower price. For example, you may push forward that the car needs a new set of custom wheels or the car had front bumper damage.
Control your emotions
It is important to remember that whether you are going to buy a used or new car is simply a business transaction and you should control your emotions. The less emotion involved, the better. By showing your emotions you may lose money giving the dealer sign that you will agree with all the prices that the dealer will suggest you.
Your main task is to get the best deal possible on the car. The mission of the salesperson is to get the highest price with the most profit they can. Take into account that the most salespeople are experienced negotiators, trained to move you incrementally to the deal that they want you to accept. You need to hide your emotions because they will get an advantage of it and will try to persuade you that it is the best option for you.
Pretend that you are ready to leave
Being prepared to walk away is the greatest strength and the dealer’s worst fear. This can be a strategic negotiation tactic aimed at getting the dealer to change his mind. You can change the situation by saying that you think you are still far apart with the price of the car and say that they can call you if they can find a way to get it lower. Be sure you will make the best deal.
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