Tips for Negotiating to Buy a Car
Buying a new car or used vehicle can sometimes feel like a very stressful process due to the overwhelming and often mysterious process of haggling with a salesperson for a fair price. Auto salespeople are experts in negotiation, so you want to go into an auto buying negotiation with as much information as possible to ensure you get the best deal. Consider this valuable advice.
1. Don’t Mention Your Trade-in Until the End of Negotiating
If you have a trade-in, keep that secret leverage to yourself until the end of the process. If you mention your trade-in up front, the seller is likely to make it seem like they’re giving you a great deal on your new car because of it, but really, they’re just increasing the price of the car. Mention the trade-in once you’ve already settled on a price.
2. Negotiate for the Best Price Above All
Sellers can play numbers games, offering you seductive low monthly rates on the car, but what it really comes down to is the total price of the vehicle and the interest rate you get for it. Negotiate the price first, and then move on to negotiating monthly payments and interest rates.
3. Do Your Research
Before you walk into the dealership, do some research online at places like Kelley Blue Book to determine the value of the vehicle you’re thinking about buying. The more information you have going into the negotiation, the more leverage you have to make sure you get the best deal possible.
4. Wait Until the End of the Month to Buy
If you wait until the last day of the month to go in to negotiate to buy your car, you may have the upper hand. That’s because at the end of the month, dealerships are dealing with quotas they have to meet, factory incentives are in effect, and salespeople have the most at stake with bonuses to achieve.
4. Work with a Dealer That Gives You a Competitive Price Up Front.
You might not know this, but not all dealerships require you to go through the anxiety, time, and toil of bargaining with a seller to get a good deal on your car. Work with a dealership like Earl Stewart Toyota and you’ll get a competitive price up front with what Earl Stewart Toyota calls the 1Price Policy. Using an algorithm based on regional sales, prices, and more promises a great deal without having to haggle.
2 comment(s) so far on Tips for Negotiating to Buy a Car
Your third tip on doing research beforehand is great. I’m an advocate of going into situations prepared for what’s at hand. I’ll probably wait until the end of the month to buy something, like you said, they have quotas.
These are some great car buying tips. I like how you mentioned to wait until the end of the month to actually buy. I didn’t know that places have quotas they need to meet, so I bet they would be more willing to negotiate!