| Negotiating, haggling, horse trading, | | | | phone or with just a short visit to their |
| whatever you like calling it, is essential | | | | lot. They know that no matter what price they |
| when it comes to buying a car. If you don't | | | | quote you, if you take that price a few |
| partake, for any reason, then you'll pay more | | | | blocks down the road to the next dealer; of |
| for the car than you had to. And don't | | | | course they'll beat that price (if even by |
| forget, you'll be paying interest throughout | | | | just a few dollars) just to get your |
| the life of your loan on an amount that could | | | | business. So, you can't blame them for being |
| have been lower. | | | | a bit protective of what their actual bottom |
| | | | line figure to you may be. |
| Negotiating the price of a car puts a lot of | | | | |
| people into their uncomfortable zone. But, it | | | | But remember, you control the negotiations. |
| really should not; especially today with all | | | | At some point during the car buying process, |
| of the information available to the consumer. | | | | if you are serious about getting your best |
| The key to confidence and a higher level of | | | | deal, you will have to sit down and tell the |
| comfort comes in the form of knowledge and | | | | salesperson straight out that you are a buyer |
| research. | | | | and if they will work with you to put the |
| | | | deal together then a deal may very well come |
| Let's get a bit of a jump start on your | | | | together. Be very serious about this. Get the |
| research with some key points to keep in mind | | | | car salesperson and the dealer excited about |
| when you have decided that it's about time to | | | | selling you car not you getting excited about |
| change your ride. | | | | buying a car from them. |
| | | | |
| Since there is so much information available | | | | Once the negotiating sleeves are rolled up, |
| to you, don't try to commit your research to | | | | you'll want to negotiate from the dealer |
| memory; even if you are only considering a | | | | invoice price up. Never, never, negotiate |
| couple of choices of vehicles. Take the time | | | | from the sticker price down. And never, |
| to organize your notes into a car buying | | | | never, never (notice the 3 nevers!) |
| possibilities folder. Make sure that you take | | | | negotiate, buy, or otherwise discuss or |
| your folder with you to the car dealer. Don't | | | | reveal what you'd like your monthly payments |
| be embarrassed or self conscious about doing | | | | to be. DON'T even discuss a monthly payment |
| this; this is a business transaction and you | | | | range! You've done your research. You know |
| should treat it as such. | | | | the numbers. You know that if you get this |
| | | | car for that price; you'll be in budget. |
| As a rule of thumb, car dealers have a profit | | | | Don't discuss this with ANYONE! |
| margin of about 10 to 20 percent. The 20% is | | | | |
| theirs if you pay the sticker price and it's | | | | And finally as you move closer to closing the |
| 10% for the car dealer if you get closer to | | | | car negotiating, don't pay for things you |
| the dealer invoice price. Keep in mind if you | | | | don't need. Everyone at a car dealership is |
| want a specific car with specific options | | | | tasked with selling and making profit for the |
| that you can't find on a dealer's lot and you | | | | dealer. You will, of course, have to pay for |
| order the car; you'll get exactly what you | | | | taxes, registration fees, and destination |
| want, but your ability to negotiate the | | | | charges. But don't pay for additional |
| selling price will be greatly diminished. | | | | delivery charges, handling, marketing, |
| | | | promotional, floor charges, administrative |
| Don't let emotions or car shopping fatigue | | | | fees, or any other dealer verbiage for things |
| get the best of you. If you find the exact | | | | they are trying to add on to the deal. And be |
| car that you want and are ready to become a | | | | sure to say "thanks, but not thanks" to |
| buyer, keep you thinking and your emotions | | | | extras like pin stripping, rust proofing, |
| close to the vest. If you find yourself | | | | fabric protection, paint sealant, or any |
| getting tired and mentally beaten down to | | | | thing else. These are just 99.44 percent pure |
| where you 'just want to get this over with' | | | | profit for the dealer. And you sure don't |
| take a break or come back another time. | | | | want them in your financial contract where |
| Remember, emotionally buying a car or buying | | | | you'll even be paying interest on them. |
| when tired and fatigued will probably cost | | | | |
| you money. It's important to remember that | | | | In summary, do your research and put your |
| you have the ultimate trump card. You can | | | | findings in a folder and use it. Knowledge is |
| always walk out of the dealership at any | | | | confidence and comfort level. Negotiate |
| time. Without you there is no deal and car | | | | honestly and reasonably. Don't toss out |
| dealers certainly know this. | | | | ridiculous numbers and expect to be taken |
| | | | seriously. You want to be taken as a serious |
| The early part of the car buying process is | | | | buyer. Don't get emotional or fatigued. If |
| getting competitive prices. This may not be | | | | you do, take a break and come back later. Be |
| as easy for you as it sounds on the surface. | | | | prepared to spend some time and work getting |
| Selling cars is an extremely competitive | | | | your best car deal and a good deal you will |
| business for car dealers. They don't like to | | | | get. |
| give out their 'very best price' over the | | | | |