Negotiating the sale of a new car at a dealship is a fine art. A lot of people may feel like its out of reach but it doesn't have to be.
1. Research, Research, Research- understand the details of the car you are interested in. Car dealers will throw car jargon at you (sometimes it makes no sense) just to determine if you are an informed buyer.
2. Never Ever give them the payment amount that you can afford. Of course you want to stay in your budget and you are not planning on going over that payment amount but you are negotiating on car value and cost, not your payment amount.
3. Be firm- Allow the dealer to make the first offer. Or propose the first deal. The first person to throw an offer out is the weaker negotiator.
4. Be aware of tag teaming salesmen. When they see that you will not budge on your negotiation, they will send in their next more aggressive salesman. Sometimes the salesman will have to go speak to their "manager" about your offer. This speaker to their "manager" is just another way to try to wear you down by making you wait.
5. Be prepared to walk away- this is often hard for people to abide by, because they have taken the car for a spin, stomach is empty and have been dreaming about a new car for a long time. Remember this is a major purchase, if you are not satisfied with the cost or price, do NOT buy it. Walk away. This can also be a good tool down the line if the car remains at the dealership.
Questions on car financing or have tips on negotiating? Email me at betterbudgets@gmail.com
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