NEGOTIATING
CAR PRICES SALESMAN - AUTO PURCHASE NEW USED BUYING TIPS ADVICE INFORMATION GUIDE HELP AMOUNT FAMILY INFO GUIDE STRATEGY IDEAS EDUCATION FREE ARTICLE
Preperation
is important for getting the best deal when
buying a car.
BE
PREPARED FOR NEGOTIATING CAR PRICES
Auto dealers
have a pat repertoire of questions designed to
pigeon-hole potential car buyers into long-term
finance agreements.
Regardless
of your previous car buying experience, or
whether you are looking to buy new, used, or
lease, understanding key questions frequently
used by auto dealers, as well as pertinent
answers, will strengthen your negotiating power:
CAR
PRICE NEGOTIATING
Questions to be Prepared
for:
"So, are you looking for a new truck
today?"(Im not sure yet; Im browsing; Not sure if I want a truck...)
"Are you trading in your vehicle
today?" (I have not decided. I like my current vehicle, and not sure that I
want to trade it.)
"How much money do you want to put
down on a new car? (Im not ready to discuss that at this point.)
"How much can you afford in monthly payments?" (I will not discuss
payments, as they are irrelevant to my purchasing a car.)
"Do you like the color red? Or is
there another color you prefer?" (I like red, but prefer black. Do you have
this same vehicle in black?)
"Would you like to test-drive this
car? Think you'll be buying it today?" (Yes, I can drive this car today, but
not sure Ill buy this particular vehicle)
Car Buying Preparation Strategies
So far, this is a good start to negotiating...it opens the door to dealing effectively
with the salesperson. The key is to ensure that YOU control the sale the entire
time. Using the following strategies will ensure you affordably drive away in
the vehicle you want, not the one they want to sell you:
Use the Internet to determine the value of your existing car. Look up the Blue
Book value through www.kbb.com. This is a great website to determine the value
of your car, as well as how much you plan to spend on a new vehicle.
Take time to research vehicles to know what is on the market, as well as
exactly what you want in a vehicle. Again, you can use the Internet, or you can
use the testing process as described above. Know the engine size, features,
color, and details you want, and most importantly, the price you are willing to
spend on a new vehicle before you go to the dealership to negotiate.
Wait to buy the car until you are financially prepared to purchase. When you
do, seek out the rep and be specific about the exact car you want, as well as
your intent to purchase that day. Pre-negotiating your loan with your own bank
instead of the bank chosen by the auto dealer will also strengthen your
bargaining power.
Never tell them if you are planning to trade in your car. Tell them what you
will pay for the vehicle without your trade. Only after you have negotiated the
price throw in your trade to further lower the total amount of purchase of your
vehicle.
Do not discuss financing OR monthly payments. This hinders your negotiating
power.
Finally, walk away if the dealer will not back down. The car will either still
be there in a few weeks with an eager dealer, or you will find it at a different
dealership down the (literal) road.
To
teach and learn money skills, personal finance, and money
management, please go to the Money
Instructor home page.
Negotiating for buying
your new Car Guide-
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Learn Saleman Car Buying
Tips Auto New and Used
Choice Information
Preperation
is important for getting the best deal when
buying a car.
To
teach and learn money skills, personal finance, and money
management, please go to the