By July 10, 2007 1 Comments Read More →

How to make a deal when buying your new car

Reader question:

I’ve always bought my cars for the price offered, but I have a friend who recently got her car dealership to lower the price of the car she was buying after negotiating. I had no idea you can do this? How can I haggle for a good deal on my new car?

Tyler

Just gotta be confident, for one.

The main key to getting a good deal on anything is believing, or at least pretending to believe, that you are entitled to it and you know it. Confidence doesn’t cost a dime and it takes you a long way when it comes to getting bargains, or really getting anywhere. So, before you head out to that car lot, set yourself some goals and give yourself a boost in self esteem. Remember that they’re charging you more than necessary and they don’t have to. You can get those prices to go down and get a great deal on your new car. People do it all the time.

Secondly, prepare yourself. You can’t convince someone to give you what you want if you don’t have a very clear idea of what that is. You’ll just end up falling all over yourself in the negotiation process. Do some research online about your new car, and determine what the going price is and what you want the price to be. Also figure out the options that you want with your car, and how much they cost. It’ll only take you a couple of minutes to figure out how much is the lowest your new car is going for.

Start low and slow. Your salesperson thinks that you’ll accept the first price they offer you, so ward them off. By starting three hundred dollars below the price that you actually want, you can get lower prices out of the salesperson, because they will automatically offer you a price higher than you suggest.

Don’t forget, there’s more than one kind of great deal. Don’t get your heart set on that great price, because you might not be able to get it. But don’t forget that there’s more that you can do. If you can’t lower the price, you can get other kinds of deals, like an extended warranty. You might have to give up some of the expectations that you had, but that doesn’t ruin everything. The negotiation process is give and take.

Cheers,

Fashun Guadarrama.

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  • James

    Austin, great post, I enjoy your site and what you are doing