How To Negotiate Your Next Car Price
If your car has seen better days, or you are in a position to upgrade to something a little bit newer – there is nothing better than trawling the internet to see what’s on offer.
Even when you have found the perfect car, you need to work on getting the best price. If you have gone with a showroom or a dealership, look for the lowest price guarantee; this gives you an immediate haggle ability.
If you are buying from private sellers, then here are a couple of ways to secure the best price.
Depending on the type of place you are buying your car from, you might be able to pose the question, ‘What else can I get for my money?’. This isn’t reducing the price, but it does mean that you might get an extended warranty, car scent, windscreen wipers, free upgrade, new brake pads, or something else that the car needs.
Of course, this isn’t going to work with private sellers – as they likely have nothing else that they can throw in. But with showrooms and dealerships, they will often throw something in to sweeten the deal. Make the most of it.
Don’t keep speaking
If you are nervous about negotiating, the chances are you are going to keep talking and then talk yourself into just handing over the cash. Sometimes the most powerful tool you have is silence. If you think the car is too expensive – or not good value, then state it and see the response.
Remember that salesmen are trained to get the sale and can hold the silence with you – but they also want to make the sale.
It can be as simple as saying, ‘There is a newer model nearby that is X amount cheaper, but I’m here with cash, so can you reduce the price?’ and wait.
Make sure you have a backup car because sometimes they don’t want to haggle.
Paying on a card is good, but paying in cash? Usually, that is a much sweeter deal – even more so if they might’ve been expecting you to require finance. When buying a car in a dealership or showroom, often the buyer will need to fill in paperwork to get approved for car finance options.
If you have cash, this makes the process much faster – and has fewer fees. Paying for your car in cash is more attractive.
Like… not love
Keep it cool even if you are head-over-heels for a sporty little number that you just took for a test drive. You can say you like the car, but it is often better not to go into how much you love it. Why? Because once you show an emotion attached to the car, you are signaling that you are less likely to walk away, even if they don’t drop the price.
If you show that you are willing to walk away with your cash and buy somewhere else, most salesmen will be happy to drop a few numbers off the total.
Buying a new car can be filled with traps and issues; here are some things to keep your car buying experience a good one: Buying a New Car? 9 Things to Look Out for.