Tips on bargaining the price of a car?

Question

Does anyone have some bargaining tips on buying a new car?

Let me know what has worked for you!

Answer 1

Here are some DO's and DON'Ts when buying a car.

Do's:
Check out the value of the car you are interested in beforehand. NADA and KBB.com are a couple of good sites to research the vehicle and what it should sell for. You can also learn roughly how much the dealer's cost is...this will give you an idea of how much a dealer makes, and how much negotiating room there is on the vehicle.
Also, decide what your max spending limit is, and stick to it. There are many slick talking salesmen who are masters at getting you to stretch beyond what you've planned to spend.
If you want to negotiate price, ask the salesman if the price is negotiable, and if so, have the salesman go to the sales manager and find out what they would be willing to accept. Many dealerships, even the so-called "one price, no-haggle" kind, generally always have some wiggle room in the price. Remember though, just because the dealer's cost is X dollars doesn't mean he's going to sell it to you for X dollars. He needs to make a profit or else there's no reason for him to sell the car.

Dont's:
Don't jump on the first car that meets your criteria. Compare the same model at different dealers. Decide what you can and can't live without as far as options, accessories, etc. and if the dealer doesn't have exactly what you want, tell him/her. They have a network where they can find what you want. Play it close to the vest...be aloof and remember that there are several dealers out there, all of whom are almost desperate to sell cars right now. You have control, because you have the checkbook.

Don't haggle like you are at a flea market. Offering someone 10% of the car's worth as a "starting point" ISN'T shrewd negotiating; it's an insult... and will brand you as not seriously interested, a problem buyer, or just an idiot who's wasting their time.
If you want a better price, simply ask if they would be willing to sell the car for X amount or give you a payment of x amount per month.. Make sure that is a fair number to both parties...if you've done your homework you should have a rough idea of what the car's worth and obviously, the dealer knows exactly what they paid and how much they will take for it. Find a happy medium that both sides can live with. If you can't, then walk away. There are other cars and dealers out there.

Don't renegotiate the negotiation. What this means is, once you've settled on the price and terms you want, and both parties have agreed, don't decide that all of a sudden you "want the premium sound system and the 20 inch wheels thrown in for free on top of everything else or no deal". Be clear up front about what you want; don't try to sneak it in at the end. Playing games like that will just alienate the salesman or his sales manager and might queer the deal.

Just because these guys WANT your business doesn't mean they are going to just keep throwing in extras non stop...remember it's a business deal and should be handled with professionalism by both parties.

Hope this info helped a little.

Answer 2

When starting to bargain always start at a lower price than you want to pay and have the money ready some sellers may sell lower if they get a quick sell, you should always check the condition of the car and the liens info though because if you buy a car that was used as collateral for a loan or mortgage, the bank still has the right to take it from you

Answer 3

Waiting until the end of the month is really a myth, you can get a great price at any time...What you need to do is get online and get as many internet quotes as possible and take those into the dealership with you. Expect that dealer to beat your lowest quoted price or tell them that you may have to take your business elsewhere. Be prepared to negotiate some, dealers will not give up their lowest prices too quickly..Also check out sites like www.edmunds.com, which will give you the MSRP, invoice price, any rebates or incentives, and what most people are buying the vehicle at. An informed consumer is dangerous for dealerships! Always, Always, Always negotiate with a smile on your face...Dealerships do not like to give up all their money to a**holes...Do not be afraid of walking out. A good dealership will always call you back in and try to "earn your business". A dealership that does not call you and at least try to "earn your business" is not the place where you need to buy your car and they typically are not the ones giving you the best deal anyway.

Answer 4

Know exactly what you want, Make, Model, Options, Color, everything. Do not let them up sell you on what they have on thier lot, if they don't have what you want, they can get it. Have your financing approved before hand from your personal bank or other source, don't get suckered into what seems like a good deal and let them rip you with their financing. Do your homework, there are many websites that list what the dealer pays for the car/options, and what you should expect to pay. And most importantly, shop around. Don't just go to one dealer. Go to all the dealers in your area. They should fight for your business. If you see your car at one dealer, and they don't want to negotiate with you on it, the other dealers can get that exact car from them by trading inventory. Keep your "I want it now" monster under control. Be patient and don't let the dealer know you are crazy about the car and must have it, and you will have the upper hand.

Answer 5

Do your homework before you go. Also shop around and wait for the end of the month when dealerships are trying to make quotas.

Answer 6

start at 10% of the sticker price. And work your way toward the middle.

Answer 7

Figure out what you want, what you're willing to pay for it, work from there....