When it comes to buying a car, there are two schools of thought on how to approach the negotiation process. The first believes that it's best to let the dealer make the first offer. However, this can put you in a weak position and limit your options. On the other hand, the second school of thought suggests that you should make the first offer.
This can give you more control over the negotiation process and ensure that you get the best deal.When negotiating with a car salesman, there are certain things that you should never say. For example, don't tell them what prices they quoted you until you've chosen a car you want to bid on. Additionally, don't inform them that you have an exchange until a final purchase price has been established. It's best to call your credit union and ask them for a fair price for your redemption before visiting the dealership.Car dealers make a significant share of their additional profits when they sell financing to customers.
To avoid this, make sure that you don't leave the dealership with the possibility that they can sell you financing. Instead, tell them that you want to negotiate the price of the new vehicle first and then talk about financing.It's also important not to get too excited when looking at cars. As soon as you've lost yourself in the dreamy vision of that shiny convertible, the salesman will hook you and your chances of getting a great deal will be exhausted. To avoid this, try to sound objective and rational when discussing cars.
Point out some pros and cons and stay tuned and calm.When it comes to options, never ask for the “popular” ones, especially on a luxury model that is already loaded. This is an open invitation for overpriced dealer add-ons such as interior protection, window etching or priming. Instead, review the list of equipment in your home after your first visit to the dealership and then decide exactly what you need.When negotiating with a car salesman, it's also important not to telegraph that your car lease is ending. This is a sign of desperation and gives them a reason to increase pressure.
Additionally, research the trade-in value of your car with an online price guide such as Edmunds, Kelley Blue Book or TrueCar before going to the dealership.If you've contacted at least five dealers and received quotes from them and you're ready to buy the car, just tell them what you're willing to pay and don't move. Additionally, go to the parking lot with two color options in mind and be prepared for prequalification questions when they greet you.Overall, buying a car can be stressful but if you know what not to say to a car salesman, it can help ensure that you get the best deal possible.