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Wednesday September 18th 2019

Negotiating the Best Deal on a Used Vehicle

One of the most daunting aspects of buying a new car is usually the idea of having to negotiate for a decent price. Many consumers dread the confrontation and the haggling that goes into buying a car, so they will agree to the first price offered by the salesman. Avoiding the negotiation process might get you in and out of the dealership quickly, but you will pay for it with an inflated price that could have been much lower with a little more preparation on your part.

Do Your Homework First

Research the car you want before you visit the dealership. Create a file folder full of information that you can print from the internet. Collect the prices for the type of car you are shopping for from several dealerships in your area. Go to the manufacturer’s website and choose the features you want on the model you want. The most important piece of information that you can find is the invoice price. The invoice price is different than the retail price, and it is the price that you need to base your initial offer on.

Stay in Control of the Conversation

When you arrive at the dealership, speak with the salesperson in a clear, concise manner. Don’t give them the opportunity to begin making suggestions about the cars on the lot. Explain that you have already researched the models available, and you know exactly what kind of car you want and which features you would like included in that car. The salesperson needs to understand that you are not interested in a different car, and that you are an informed shopper. You will earn some respect this way and possibly avoid some unnecessary time looking at cars you don’t want to look at.

Use the Invoice Price as a Guide

When you sit down to discuss a price with the salesperson, bring out your printed copy of the invoice price for the car. It is entirely possible that your salesperson may not be aware of the invoice price for the car you are buying because many dealerships do not share that information with their sales staff. Before you go to the dealership, decide how much you are willing to pay over the invoice price. Begin your negotiation with a price that is about $100 or even $200 below your preferred price so that the salesperson will have some room to pull you up from your initial offer.

Don’t Be Manipulated

The salesperson may tell you that they need to take the offer to their manager for approval. They may really just want to leave you sitting alone in the office long enough to begin to change your mind about your offer. If you are left alone, get up and walk around. You could even go out onto the lot and browse among the cars. When you are moving around, the salesperson will be anxious to get back to you as soon as possible rather than risk losing you as a customer.

How to Buy an Affordable and Dependable Used Car

If you know even a little bit about cars, you should know that you should always buy used. Some of the richest people in the world buy used. Why? They know new cars are a waste of money, losing significant value as soon as you drive them off the lot.