Everyone wants a good deal when they purchase a vehicle. Unfortunately, most people do not negotiate for a living like the salespeople at the dealership. Following these five tips will help when negotiating the purchase price of a vehicle, whether it is new or used.
All Prices are Negotiable
It is an old tactic for a salesperson to declare that a price is non-negotiable. When buying a car, never accept a price unless it provides value according to your research. All prices are negotiable.
Treat Your Car Purchase and Trade-in as Two Separate Deals
It is easy to become confused when faced with a flood of numbers at the dealership negotiating table. Adding a second vehicle to the transaction makes the process even more complicated. Treat each car sale separately and negotiate value for each car. Do not allow the dealer to group the two sales.
Do the Research
If you do not thoroughly research the car you wish to buy and the price of that car in your area you will be entirely at the mercy of the dealership for information while negotiating. Gathering information beforehand will save you money and make you a more formidable opponent when deciding on a final price.
Be Prepared to Walk Away
The most powerful tool a consumer has is the ability not to buy a product. If the price is not reasonable, leave the table. A good salesperson will bring you back, and you will know you are making progress.
Do Not Look Back
Once you have purchased a car, do not second guess yourself. Be confident that you negotiated the best price that could be had that day. A dealership is a business and faces pressures throughout the month. Inventory, manufacturer incentives, and lending institution policies are all factors which determine the price a dealer needs for each car and each of these things changes over time.
By using these five tips when purchasing a car, you should be able to negotiate a fair price for your next vehicle purchase.