Hannah J. Feb 19, 2019 7 min read Negotiate In The Right Way While Buying A Car If you are buying a car that you like. But now you’re going to have to negotiate the price. For many, this is the most challenging part. They’d rather not confront the salesperson or haggle the price. So instead, they settle for buying an overpriced vehicle. By changing your perspective and with the right tactics, negotiating for a new or used car will be easier than you think. This is your chance to save potentially hundreds of pounds from the sticker price. Where to begin Many car buyers assume that negotiations begin when the salesperson sits down in the office at the dealership. But in reality, your part starts earlier. It commences even before you enter the dealer. You need to know the right price range for the car you plan on buying. Keep a target price in mind. The simplest way is to get a couple of quotes from other car buying companies. Finding the right price Discovering the right price for a car has never been simpler. Looking for similar models and makes online is an easy way to get a general idea of the market. There are several methods to do this. Here are some guidelines to get you started in the right direction. You can either start by calling or texting several dealerships in the area to get a range of prices. To get the most accurate information, ask to speak with the internet sales manager. Since all automobiles have different features, make sure to inquire that the vehicle has all the options that you want. Pay attention to the trim level and be careful to make an accurate comparison. Get everything in writing. You will need a hardcopy of the offers. So if you have an email or text message, get a printout so that you can show the salesperson during the negotiations. Search the dealership inventory online and look for any special offers. Explore all your options, so don’t forget to look at car buying and selling websites as well. Tactics for a good deal You’ve done your homework. Here are a few additional tactics to help you get a good deal on your next car: Select the right place to purchase an automobile. Make sure to read the online reviews. You want to interact with people who believe in and are dedicated to customer satisfaction. You want to deal with a reliable company and not have to worry about the authenticity of the documents. Don’t go into the car dealership unprepared. You could get winded by the salesperson strategy. You may get drawn you into negotiations before you’re ready. Don’t buy in a hurry. A car is a significant investment, so you need to take it slow. Plan your schedule. You’ll need to spend quite a bit of time at the dealer. Set aside at least 3 to 4 hours in which you can test drive, possibly trade in your used car, negotiate, and then finalize the financing process. Make sure you have a proper meal before you head on out. It’ll provide you with the much-needed energy, and it’ll help your mind focussed. Likewise, if you want to speed things up and get the best service, go to the dealership in the middle of the week. Avoid weekends and holidays- the salespeople will have to divide their attention among several customers. Determine the total cost of the vehicle- not the monthly installment. By focussing on the small figure you will be paying each month, you won’t be able to see the complete picture. You need to save big – so concentrate on the larger amount. Check all the numbers. All costs and quotes should be spot on. That’s why you need to clarify that the amount you are being shown is the out-the-door price. This is another way of confirming if there are any hidden fees or extras that you’re not aware of. Don’t forget that the sticker price is not the only thing that you can negotiate. There’s also the interest rate, trade-in value, and the other insurance products that are available, for example, the extended warranty. If you are considering taking out a loan, get a preapproved one from a bank or credit union before visiting a car dealer. That way you can compare the finance options and negotiate to get the best deal. If you can’t find a bargain or are intimidated by the salesperson, it’s okay to walk out. It’s wiser to give it a try some other day. Who begins the negotiations? If you’re the first to make an offer, make sure to leave some room for a counteroffer. Depending upon your budget constraints, you need to know what your opening offer should be. That’s why researching beforehand is essential. You don’t want to end up getting flustered. Don’t be reluctant to make a low offer. If you’re afraid the salesperson will laugh, become angry, or act insulted, think again. The salesperson is actually doing the same thing with you, but in reverse by starting with a higher offer and working down. When you walk in with the knowledge of what a similar car is selling for, you’ll have more confidence in recognizing a reasonable price and knowing when to counter. If, on the other hand, the salesperson begins negotiations by asking what monthly payment would comfortably fit into your budget, you need to sidestep. As mentioned above, it’s not entirely about how much your monthly budget permits, it should be about the total cost of the car. Ideally, you should ask the salesperson that you want to discuss the purchase price at the moment and will talk about the financing options later. When you are presented with the price, you will be able to compare it with the quotes from other dealerships. Decide if it’s a good one. If you like what you’re getting, continue with negotiations. Since you’ve already shopped around for the price, you will be able to present the printout with the competitive offer confidently. Now it’s up to the salesperson to beat this price and seal the deal. When you provide proof of the best price, the salesperson knows that you’re an informed, serious buyer. You’re not merely haggling; you are justifying the drop in price. Also, the salesperson understands that if a car is going to be sold today, there’s an offer that he’s going to have to beat. The salesperson could jump to the low end of the dealership’s pricing structure, saving valuable time in negotiations. While negotiating the price, don’t forget to discuss warranty limits, loan and financing offers, or add-ons that the dealer might have included in the total. Inquire about any rebates that may be available for your automobile. Asking the right questions can make a world of a difference because you won’t get what you want unless you ask for it. Buying a Car?