How to Negotiate Car Price – 3 Ways
"So, what can we do to get you to buy today?" How about giving me a price I can afford! Negotiating the price is probably the most difficult part of car buying if you actually care about saving money. A little preparation could help you save thousands of dollars. That's why we're offering some suggestions we've learned over the years. Before we get started, consider reading our article about a very common sales strategy called the four square.
Strategy 1: Don't
That's right. Don't negotiate. Instead, decide what you want to pay first. Then let the salesperson know you're not going to buy unless he can sell the car for that amount or less. The manager will nonetheless make an offer somewhere in between their figure and yours, most likely. Just politely decline until they accept your price.
This strategy is simple. Deciding on a price can be complicated, though. You can use a number of sources to get an idea of what to offer. Edmunds.com can estimate the market value of your chosen vehicle based on local sales information, for example.
We've offered free quotes from dealers across the country for many years. The advantage of our service is that you can compare quotes from competing dealers without actually visiting them and being asked to wait in line, etc. We recommend getting quotes from as many dealers as you can. Then, take the best quote to a dealer who gave you another quote and ask them if they can do any better. Click here to get your free, no-obligation, local quotes.
Strategy 2: Cater to the Salesman
There are two ways you could potentially win a salesperson over. The first option is to figure out how to get him/her a bonus. Making a cash deal or meeting a quota for a specific time period are examples of bonusworthy deeds. Ask your salesperson how he earns bonuses and then help him get one or several. Just make sure you get what you want in return.
Another way to win the salesman over is to tip him. A bird in the hand is worth two in the bush, right? Wait until a deal seems close and then offer a tip in return for a discount or fee waiver. This is a good option when the expected commission is low. Be attentive to the salesman's potential earnings and think about sweetening the deal when needed.
Strategy 3: Find a Car That Won't Sell
Some dealers have to pay fees to their manufacturers if they don't sell cars after a specified number of days. It's no good for either party (but could be good for you) if cars sit on lots forever, which is why manufacturers incentivize selling the entire inventory quickly. Find out which vehicles have been sitting on the lot for several months. The dealership will be willing to give you a great deal for one. Keep in mind that the managers might be more interested in giving you a discount than your salesman will be. However, your offers always have to go through a manager. Just convince the salesperson to give it a try as long as your offer is reasonable.
Is it time to get those free, no-obligation, local quotes? Click here.