Learn How to Negotiate Car Price the Easy Way
January 08, 2019 | By Louis Tully
It’s no surprise to find that car salesmen are absolute pros at what they do. For them, negotiating car prices from sunup to sundown is just another day at the office. They know all the tricks of the trade and execute their skills on weary car shoppers without skipping a beat.
Many of these ‘skills’ pressure people into buying a car; even if they weren’t ready to sign the papers just yet. So, how do you deal with these car-slinging pros? How does one handle the pressure that most car salesmen will try to push on you at the lot?
Negotiating for a lower car price isn’t as difficult as you might think. With a little budget strategy, online research, and patience, you can be ready to negotiate car price with any car salesman that comes up to greet you!
Know the Actual Selling Price
When it comes to buying a car, car salesmen will always try to hit you with the big numbers from the get-go. They start off high, then they take a little off the top to make it look like you’re getting a better deal.
Knowing how much the car you want actually costs and having a solid budget strategy is the key to trumping this typical sales trick. It’s much easier to say “no” when you know you’re getting ripped off.
So, before walking onto the car lot, be sure you’ve done your homework before you negotiate car price. Be prepared to show the salesman what you found on or TrueCar, then you can talk prices from there.
Along with the selling price, here are some more numbers you should know before you begin car shopping:
- Promotions you qualify for such as customer cash-back offers or low-interest financing.
- Your current car’s trade-in value
- Dealership fees
- Sales tax
Negotiate from a distance
Believe it or not, aside from test driving the car, you can do the whole car buying process from the comfort of your home!
Shopping for your new car from home has several benefits attached to it:
- If you don’t like the way you’re being treated, or how the sale is going in general, it’s a lot easier to end a customer service chat with a salesman than to physically walk away. It’s less humiliating and well, less work.
- Going through the car buying process from home is a lot more relaxing. You won’t feel any need to rush through anything. Plus, without all the “let’s do this now while you’re here” schtick, you’ll be able to make a clearheaded decision.
- You’re way more confident in yourself when you’re in your own element. By not feeling pressured, intimidated, or rushed, you’re way more likely to make a car buying decision that you won’t regret.
- Since you don’t have to go driving around from lot to lot, you’ll feel more inclined to shop around a bit more and stick to your budget strategy. After all, the next dealership is just a click away!
Shop Around for the Right Price
When buying something as big as a new car, an auto title loan won’t do the trick. But shopping around for a good price certainly will.You can start by getting the price for the car you’re interested in from one and then start collecting quotes from other dealers from there.
Don’t be afraid to inform dealers of the quotes you received elsewhere and even tell them you already have an offer you’re considering unless they can do something better for you to negotiate car price. Car dealers are a competitive bunch, and they’ll do whatever they can to win you as a customer.
Change It Up
Car salesmen thrive on using their sales routines to pressure potential buyers. Once they get you to test drive a car, it’s all over. Next thing you know, you’re back in their little office cubicle signing the papers. But what you have to remember here is, you’re in control, not them. They have to be there, you don’t.
Want to prove to them you’re in control? Change it up. Be unpredictable. Make them feel like they need to work a little harder to catch you.
After making an offer on the car you want, the salesman will briefly leave you to take it over to their boss. That’s your cue to get up and walk away. Disappear for a bit. Walk around the lobby. Pour yourself some coffee or run back outside to look at other cars.
Stuff like this makes salesmen nervous because they suddenly feel less in controlling of the sale. Don’t worry about them moving on to someone else. They’ll come running after you like greased lightning.
Don’t Be Afraid to Walk Away
Walking away lowers prices. Don’t believe it? Try it yourself!
If you’re a first-time visitor, you’re likely to get the usual car salesman pitch. But if you’re coming back for the fifth time, they’re more likely to drop the act and negotiate a much lower car price.
At this point, they know you’re not afraid to leave empty-handed if the car price they negotiate doesn’t fit your budget strategy, and they’ll do more to get you to finally sign.
Don’t Give Up
If you’ve tried all the tricks in the book to no avail, don’t give up.
Sometimes, patience is your best ally when you negotiate car price. When you fail at the lot, keep your head up, and just walk away.
Never give into their pressuring tactics and never settle for less than what you want. At the end of the day, they’ll give in to your demands. Maybe not the end of this day, or even the next. But someday, they’ll let their guard down and make you an offer you’ll be happy with.
But like any other worthwhile thing in life, it’s going to take time to come to fruition. So, be patient, stay the course, and keep trying. Happy car shopping and good luck!