Buying a car is an expensive proposition that takes away a large amount of your hard earned money. Learning to negotiate effectively at the dealership can help you strike a good deal and save some money. The money saved can be use to buy accessories for the cars or for financing the car.
This article offers you some golden tips on how you can take a stronger position when it comes to negotiating the price of a car at the dealership.
Rule 1: Remain calm and casual
It is always advisable to remain calm and patient when visiting dealership. Adopt a casual yet firm approach. Also show readiness to walk out of the dealership at any point.
Rule 2: Do not discuss payment terms at the outset
Salesman at the dealership will try to extract information about your budget for the car. You may be asked questions such as how much money you can allocate for monthly payments, how do you plan to pay for the car, are you seeking finance etc. Try to firmly avoid answering such question by telling the car salesman that you are only interested in discussing the selling price of the car at this point. Other financial matters can be discussed once the deal is finalized. Try to keep the conversation in track even whilst the salesman tries hard to get your financial information.
Rule 3: Say you are ready to strike a deal today itself
Tell the car salesman that you are not really in a hurry to buy a car but you are willing to sign the deal today itself if the manager agrees on my offer. Such a statement will create a tremendous pressure on the dealership and help you get an upper hand in the negotiation game. Then state an amount little below your allocated budget for buying a car.
Rule 4: Be patient
Once you make an offer stay calm. It has been observed whoever speaks first once an offer is made comes in a weaker position. Wait for the response of the salesman before talking any further.
Rule 5: Avoid coming under the pressure of the salesman
Once you make a bid, a salesman will try hard to make you raise the figure. He may tell you that such an amount is just not fair or feasible. Remember not to raise your quoted price until the dealership gives you a counter offer.
Rule 6: Raise your offer in small increments
The salesman may finally arrange your meeting with the sales manager who may present you a counter offer. In a casual yet focussed manner show your willingness to negotiate. Increase your bid in small amounts; say $100 or $200 at a time. They may still tell you it’s not feasible. Increase you bid a little as the sales manager keep lowering their asking price.
Rule 6: Threaten about moving to another dealership
Sales manager may tell you that no dealership will accept this price or make excuses that such a price is not feasible as they have to maintain the dealership overheads or say that such a price is very reasonable for the car you have chosen. For all such arguments simply tell them that you are willing to try another auto dealership. Sales manager will feel pressurized while your position will be strengthened.
Rule 6: Final quote
State your budget quote. If they still try to make you increase the quote, clearly state that you have reached your limit. Be casual, calm and friendly. If the dealer gives in to your price well and good but if he doesn’t leave on a friendly note. Try giving a casual phone call to the dealer next day. The dealer may perhaps be willing to lower the price else be flexible to move to another dealer.
Learn how to negotiate your way to a better price for your new car and your chance to bargain for a great deal on your car maintenance with How To Negotiate The Price Of A Car – The Intelligent Way Of Getting Incredible Deals by Vincent Cote!