Negotiating your purchase for a car will save you hundreds (if not thousands) of dollars. Bargaining or haggling a price is a common scene in buying a car. Car dealers will see to it that they will have a much higher profit in selling their vehicles. But you as a buyer have the power to lower a car’s price rate. Here at TopSpeed.com, we will give you valuable tips and guidelines in how to negotiate with car dealers.
First, you must be prepared with all the numbers. Before leaving to buy a car, make sure you have a pocket calculator so that you can compute and determine your overall finances. You should also bring whatever car buying-related documents you have such as auto price notes, handouts, online lists of car prices, posters from other car dealers, and most importantly the Fighting Chance manuscript. Through this technique, car dealers will be intimidated to give you a higher price because you did your research. They can not fool you with there mouthy words.
Second, you should inquire from someone who has recently bought a car about a dealer’s paper work. This includes types of buyer’s form. Through this technique, you will be accustomed with the hustle and bustle when transacting with a car dealer. Moreover, this will also let you know how that dealer works. You will be acquainted with his or her system in selling a car. Most car buyer’s forms are very puzzling. You will become anxious and uneasy when you will see one for the first time.
Third, you must transact with a very limited time. If you found the car you are looking for, negotiate with the car salesman for a maximum of 30 minutes. You must tell the salesman that you only have a very limited time in bargaining for the car’s price. Do not be fooled by a salesman who talks too much in a way to convince you. If the 30 minute period is over and you still did not agree on the car’s price, leave immediately because most car dealers by this time will negotiate for a higher price even if it takes them 2 to 3 hours to convince you.
Fourth, is to be presentable. Look good, dress in a comfortable way, and feel smart. With this, car dealers will not go easy on you. They will think twice in manipulating you with a car’s price. It is also not advisable to buy cars if you are sick, hungry, and / or have a headache because this will limit your chance of having a nice price deal.
The Fifth tip in how to bargain when buying a car is to bring a friend(s) with you. It is a very well known fact in the auto selling industry that most car salesman dislikes the so-called “buddy system” because they do not only have to persuade you but also your friend(s). You must see to it that the salesman will not detach you along with your friends. The “buddy system” also works when you go into a court argument against your car’s dealer. Of course, your friends (who came along in shopping with you) will testify in favor to you.
The Sixth guideline is that you should not be fooled by a car dealer’s deceiving words. Most car dealers (not all) will try to win you over by giving you misleading information. They will tell you stories that have been told by them for over a million times. They will say that this price offer is only good for this day and it will not be their tomorrow. They will also state to you that 3 or 4 buyers are into this car and you should buy this one as soon as possible. These are all part of a car dealer’s tactic. Don’t be tricked or you will end up losing your money.
The Seventh tip is that you should be cool, relax, mature, and non-confrontational in negotiating to a car salesman. Tell the salesman about your offer and how they can make earnings from it. Explain to them that you have done your research and this price is the only proposal you can suggest (nothing more and nothing less). If they butt in while you are still stating your offer, make them stop and continue your proposal. If they became confrontational, immature, and ruffled, avoid tackling them with the same manner. They are not worth the fight. Just remember that you can always offer your proposal to other car dealers.
The Eight approach is to haggle the car’s price starting from a “Dealer Cost” and then up. If you do not have any information about a car’s “Dealer Cost”, just surf to online websites that determine their value. This includes Edmunds, Cars.com, CarsDirect, InvoiceDealers, and Autoweb. It is a common mistake to bargain for a car’s price starting with its MSRP and down. You should also keep in mind that the car’s invoice price is totally different from the “Dealer Cost”.
If a car dealer will not bargain their price tag with you, just always bear in mind that there are other dealerships that will. However, there are many dealers that do not negotiate. But how will you know that their price is an excellent deal for the car if they do not haggle? In the car selling industry, if a dealer will not haggle and his price is over 5 percent as compared to the car’s dealer cost, then it is not an excellent deal.
The Ninth tactic is to avoid being a payment buyer. Those who are payment buyers are very prone to auto scams. If you are being asked about the type of a car monthly payment you will have, just tell them directly that you are not totally into the car’s monthly payments but into its overall value. Furthermore, paying in cash does not necessarily mean that you will have a nice price deal. Sometimes, the car’s price is still the same even though you bought it with cash.