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Negotiation Tactics Every Car Buyer Should Know

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When it comes to high-pressure situations, not many top the intense experience of buying a new car. Salesman can be pushy and are looking to make a commission, even at your expense, so having a great game plan before hitting the local dealership can make your car buying experience a walk in the park.
Check The Value
Before you even walk into the dealership, know the car you’d like to buy and look up its value. There are several ways to calculate a fair buying price for the model you are interested in. For starters, you can check online for the model and year you are looking to buy to see what prices dealers are listing, which will fluctuate depending on factors like mileage and wear and tear.
To get the ultimate price indicator, check out your desired model’s selling price in Kelley Blue Book, the standard price indicator for auto dealers and purchases since Model Ts were the only cars on the road. Kelley Blue Book assesses several factors when determining a fair buying price including the average price people in your area paid for the car you’re looking at.
Know When To Follow Up
Car dealerships are like any other business, they must turn a profit. By knowing when dealerships are most desperate to add more profit to the books, you can potentially find yourself spending thousands less on that new or nearly new car of your dreams.
Watch the weather and hit the dealership on a day when you know customers aren’t checking out the lot and salesman are desperate to hit their numbers. A good snowstorm may seem like a pain to most people in your area, but a major blizzard could put you in power at the negotiating table and not force you to undergo sales negotiation training.
Another great way to bend salesman to your wishes is to visit dealerships during closing hours on the weekends. You’ll catch salesman who want to get a sale completed, but be home at a reasonable hour, possibly resulting in you getting the buying price you wanted. Also hit up dealerships at the end of each month when salesmen are desperate to meet quotas and will be far more likely to settle for less.
Be Polite, But Don’t Negotiate
It’s never a good idea to walk into a business and treat the staff poorly, car dealerships being no exception. Always treat salesman and dealership employees with kindness and patience. But being polite doesn’t mean you need to pay the price the dealership is asking. If you feel you have a sound offer on a model sitting on the lot, tell the salesman what you are willing to pay and don’t budge.
If the dealership won’t come down on price, leave your information and tell a salesman to contact you when they can meet your price. Being nice can only help you as dealerships want to get a great customer service rating online and a generous salesman might just sell you your dream car without cutting a big profit.
If you really want to put pressure on several dealerships in a friendly manner, politely remind each of them that their competitors could end up with your business and recommendations to friends. Turning the screws on the dealership a little may get them to capitulate.
Don’t Finance At The Dealership
Financing at the dealership will more likely than not end with you paying a higher interest rate and for undesirable things like contingency warranties. Unless the dealership is offering an unheard of financing option, like zero percent interest for the life of the loan, check with your personal bank or credit union for options first.
Applying for financing at a bank is far less stressful than doing so in front of a car salesman who’d like you to buy all of the bells and whistles.

Latest Activity: Aug 06, 2018 at 12:02 PM

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