What are some tips when negociating for a new/used car?

Question

Any advice on what to say when that "man with the tie" comes up to me and says "So what can I do to put you in a car today?"

Serious answers please..

Answer 1

1. NEVER tell them what you want your monthly payments to be upfront b/c this will allow them the upperhand in negotiating. For example: You say "I want to be around $300/month" ..well, that car you could have gotten them down to $270/month just went up to $300 b/c they know you will pay that now"

2. If you're trading in, only work one deal at a time. If they ask you if you will be trading your current vehicle in, simply tell them you have not yet decided and that you may sell it on your own and put cash down.

3. Negotiate the lowest possible bottom-dollar price on the vehicle you want. Again, refuse to comment on a possible trade, how much you owe, or what you want your monthly payments to be. Tell the Salesman to give you his absolute bottom-dollar, best price and you will tell him if it's good enough or not. If it is, you'll keep working with him, if not then you'll go on down the road to the next one.

4. Once you are satisfied with the best price on the new vehicle, get it in writing, THEN work the deal with your trade. Again, keep the same thing in mind. If he asks how much you want or how much you owe, tell him to give you the top-dollar, best price he can offer you for your car and you will tell him if it's enough of not. Do NOT give any hints as to wherther you owe money on the car or not and do NOT give hints on how much you need to get out of the trade. Again, be sure to get this figure in writing once it's acceptable.

5. Now that you have the lowest price for the new car and the highest price for your trade-in, it's time to work on the payments. Here you need to negotiate whatever length of loan you are comfortable with as well as extended warranties, etc.

Works everytime. This give you the upperhand and forces their hand at every move. You will have the salesman/woman sweating through the entire process. If you don't get the response you want, stand up and say thank you firmly and leave. Chances are at this point the sales manager will get involved.

Be firm, don't show your hand, force their hand and you will leave happy. Just be firm that "If you get me the deal I want, I WILL leave here with that car"

One more tip I forgot to add: Ask them to see the actual invoice for what they paid for the vehicle if they start quoting you crazy numbers that you don't think is realisitic as far as their "bottom line."

Answer 2

Some good answers here. Having worked for car dealerships for a long time, you also have to realize that dealerships do have overhead and basically do have a bottom line. Before I worked for dealerships, my proceedure would be to make a complete listing of what I wanted in a car/truck. All the equipment/size engine etc. The I would go to different dealerships with my list, talk briefly to a sales person and tell them, the best price, gets the business and give him my list. And if they didn't call me back, I would call them to see what prices they came up with.
Go to the dealerships well educated in the costs. You can go to Edmunds.com to get the basic costs and use that as a guide to the cost of the vehicle. And go to Kelly Blue Book to get an average trade value on your trade in.
My favorite TRUE story is while working for a dealership, unbeknowist to me, my father went into the dealership and bought a car! I had no idea he actually bought the car until I got his paperwork in the office to process. Knowing what he was talking about, having done his homework, not mentioning my name, and I was married so my last name was different than his, he negotiated an extremely good deal. As my father, using any discounts I could get, he paid about 100.00 more than if I bought the car! He was firm in his demands, but reasonable enough to know that there was overhead and hidden costs of a new vehicle that Edmunds does not share, and the salesman deserved a commission for his efforts. And he got the base minimum for the sale.
So be firm yet reasonable. And go in knowing what you are talking about. And be prepared to leave if you can't come to a meeting of the minds.

Answer 3

Best possible tip you could ever get?

Make sure you have cash in your hot little hands. The Salesman will positively jump through hoops for you then. Also, if you have a trade-in you'll have more bargaining power because he can just load any losses/shortfall he has onto it.


.......... :)


CHEERS & GOOD HEALTH


***** HOW ODD ADZHAT??? ******

How many times, exactly, did you say you got a lowest sale price to buy a car and a highest trade in price in writing from a car dealer??? Oh, by the way, which car dealers were they?? Interesting way to do business I must say. How novel. Can't say I've heard of that being done in a car yard ever before, oh well, spose you get that.


PEACE & GOOD HEALTH

Answer 4

Azahat has it down the only thing i may add is this know the car before you buy it and do the whole deal over the phone have them fax you the bottom line and get a ball park for your trade in they will do it if they think they can get it. know what the car is wortha nd what they pay for it offer a couple hundred over .
Remember get your self in a mindset tha you do not need the car this puts you in the power position it makes it easy to walk on em. if on the phone they say well hows that price say im going to go check around i got yur final on it if i get a better deal ill call to see if you can beat it. NEVER go down there its there turf they will say well you gotta drive it you say i dont want to . just have it ready when i come down to sign that is where you gotta deal with the finance man know your fica score and you can deal for a good rate also better yert have your own financing

Answer 5

the best tips are to be FIRM, don't let them dictate the terms, don't let your emotions cloud your judgment...