Car sales men are a necessary evil. They are there to ensure that a car gets sold and they need to convince you to be the owner of a brand new car. What would happen if the tables were turned and you were the one calling the shots instead? It is possible for you to buy a car at the price you wanted and it is all about mastering the art of negotiating.
Secure Financing Ahead of Time
When you’ve decided that it is time to buy new vehicle, instead of heading straight out to the dealership, visit your local credit union or bank and secure financing in advance. Car dealers make a lot of their profit on financing deals, and you can save a lot of money by getting your auto loan through a reputable third-party ahead of time. Once you’ve done this, you’re ready to head out to the dealership and take a look at the vehicles, although it is a good idea to do some research in advance and figure out which ones you might be interested in.
Go In Well-Rested
You’ll want to make sure you’re well-rested on the day that you go to pick out your new car. Don’t go when you’re rushed or overtired, or after a long day at work. You need to be 100% there mentally if you want to come out of it with the best deal possible.
Sourced from: http://www.lifehack.org/articles/money/how-to-negotiate-with-car-salesmen-and-get-the-best-deal-on-new-car.html
Timing is very important if you want to buy a car at a price that makes you comfortable. Your best timing is when the salesperson is having the worst day. It could be terrible weather. It could at the end of the month when they haven’t reached their monthly target. It could be a Monday evening where every potential buyer walked away.
- Don’t negotiate. Tell the salesperson and sales manager that you’ll sign the paperwork the minute they hit your target figure. Politely decline any counter-offers, give them your phone number, and leave. If the price you’ve proposed is within the realm of possibility, they’ll call you at some point.
- Follow-up on Saturday or Sunday nights an hour before closing time. Call and ask to speak with the salesperson or manager you’ve spoken to before. Remind them you’re a buyer when they meet your figure, but that they shouldn’t waste your time if they won’t.
If your offer is possible, the opportunity to do one more deal before the end of the day might compel them to work with you … especially if the dealership is having a bad weekend.
- Follow-up on the last day of the month. Again, salespeople and managers are often under pressure to find one more deal before the month ends. A deal that didn’t make sense on the 25th might make sense on the 31st if the month hasn’t met expectations.
Now always know that you are in charge. Let no salesperson intimidate you. If you do not want a certain car or do not have the kind of money it demands then stick to your original budget. Let no one make you feel like you are not good enough. Ensure you have a heavy breakfast or lunch because once you go out shopping for a car there is no telling how much time you will spend plus you need to concentrate. If you do not like the deal, walk out.
Here are a few additional tips to help you get a good deal on your next car:
Don’t buy a car in a hurry (unless you have no choice). And don’t go into the dealership unprepared. The salesperson may draw you into negotiations before you are ready.
Check all the numbers, such as TMV®.
Read online reviews of the dealership before you begin negotiating. Start with a dealership that has good customer reviews.
Eat before you go to the dealership. With the test-drive, the negotiating and the financing process, you might be there for four hours or more, and you want to be able to think clearly. You can speed things up by being prepared for all the car-buying paperwork and also shopping midweek rather than on the weekend.
Don’t enter negotiations with a salesperson who intimidates you. Negotiating should be a relatively comfortable, win-win relationship. Ask for the sales manager and request a different salesperson. Or “test-drive” your salesperson before you even get to the dealership.
Sourced from: http://www.edmunds.com/car-buying/negotiating-101.html
