You’ve selected the car, you’ve road tested the car, everything is fine, but still, remember one thing, you never fall in love with a car. Especially when you’re negotiating to buy it.
Cars are just mechanical devices and there are all kinds of them. You can go to the next dealer and find the same thing so, don’t fall in love, at least not just yet. 🙂
Now, it’s time to make the actual deal. There are certain key things about making a deal on an automobile. You have to remember that the dealership is in business to make a profit, they’re entitled to make a profit, they have a big overhead. Trying to get them below where they would make a profit is probably not going to happen. If they do that on a regular basis they’re going to be out of business in short order.
You want to negotiate a price based on your research that’s fair to both you and the dealer. Once you get to that point, remember, everything that’s promised to you, has to be in writing and it has to be approved by management.
Always make sure all of the terms, everything you’re going to be owed, everything you owe and all of the numbers and everything, is spelled out in the contract and there are no blanks in the contract. Blank spaces can be deadly.
Normally the first offer that comes down to you is going to be higher than what the dealership would ultimately accept. That means you have to negotiate to get your very best price.
How do you go about doing that? One of the ways is to simply to ask for a lower price. But, be realistic about it. If you’re looking at a $25,000 car and you offer them $12,000 they’re going to think you’re a jokester and they’re not going to give it any credence at all.
But, if you’re very close to the numbers you’ve seen in your research and let’s say your research suggested $23,500 is a respectable price and you hit them at $22,500, well that’s a reasonable offer and they may well match it or come back with something very close to it.
Remember, as you go through the process every part of it is negotiable. The financing, for instance, can usually be negotiated to a lower finance rate unless you’re dealing with some special promotional rate.
Watch the video below for even more tips!