How To Negotiate Car Prices To Save Money And Build Your Wealth
Most people will tell you that they are not good at negotiating prices when buying practically anything, including cars. This normally happens because negotiating is normally confrontational and people tend to dread conflict.
When you talk with people that know a lot about financial investments and choices that people can make, you will hear that negotiation is actually a great way to get on the right path towards making smart decisions. In fact, negotiating car prices helps you to save a lot of money and build wealth. Steve Wynn is a great example of a person that made the right financial decisions and went on to build his wealth. In a similar way, start by negotiating the price for your next car and start building your own wealth. To get you started, here are some tips that you should remember.
Learn The Right Car Price
Thanks to the internet, this is not at all difficult. You just have to look at sites like Edmunds in order to see the true market value of a vehicle. When you know this, you instantly become a much better negotiator. This is the price that represents the amount at which the car dealer will most likely want to sell the vehicle. We can say that this is a fair deal offering decent profit for the seller.
When you negotiate you have to start by testing the waters. You do this by saying a price that is lower than the price you found through the research. So many car buyers do not make the low offer as they are afraid. Remember that it is the seller that uses the exact same tactic with you but basically in reverse.
All you really have to do is throw that price out and see how the seller reacts. Then, based on that initial interaction you can negotiate further. The goal is to buy at the true market value of the vehicle or a little lower. In time you will become better and negotiations will become second nature, allowing you to use the skills in other areas, not just when buying vehicles.
Getting The Car Checked By Your Mechanic
The condition of the vehicle you are about to buy will have a huge impact on your negotiation. You should never be afraid of talking about the mechanical side of things. In fact, if you discover that something is wrong with the car and the salesperson did not tell you about it, you just gained a huge negotiation advantage. It would be possible to simply get a much lower amount accepted. That is what you want, right?
Always Be Polite
Some people try to intimidate. As mentioned below, when being intimidated, you want to go away and look for your car somewhere else. This is also the case when you negotiate and are intimidating. The salesperson will not like that and will not agree to better deals for you. In fact, they will raise the amount and will not even want to sell to you in many cases.
It is really important that you are polite when you negotiate. Even if the salesperson is not, you can still gain an advantage by maintaining your composure. When you have to deal with someone that is aggressive and not polite and you remain calm, you have a huge edge in the negotiation as the other party will eventually become off guard by the fact that you do not respond with the same tactics.
Other Quick Negotiation Tips To Remember:
- Never buy the car when in a hurry or go to the car dealership without being prepared.
- Always check vehicle numbers and value.
- Read reviews about the dealership before you start the negotiation process.
- Allow yourself enough free time to go through the entire buying process.
- If you feel intimidated by the salesperson, walk away.
- Try to take small risks and treat the negotiating process as you were playing a game. The salesperson does the exact same thing.
- Walk out in the event that the deal is not suitable to the wishes you have or the budget that is available.
The last thing that we should mention is that you have to know the negotiating style you have and you want to use the qualities that are unique to you in order to gain an advantage. Through negotiating you figure out what you want and this is in its entirety a process of learning.
On the whole, negotiating prices for your new car is something that is almost always possible. Do not be afraid to use all the advice that was offered above. The seller will almost never start with the lowest price that he/she would agree to. It is a great idea to simply try and experience different scenarios so that you can develop your overall negotiation style for other situations.