Take the time to research the car you want before visiting the dealership. Know your numbers – the dealer cost, the sticker price, the price of options you are interested in – and then find a salesperson you are comfortable with. If you’re intimidated, you won’t negotiate effectively, and being prepared is one of the best ways to avoid being intimidated! Check out this LOZO tip to learn how to find this information for free.
Expect that the first price the salesperson offers will be very high, and plan to counter with a very low one. The goal of both parties is to meet somewhere in the middle, at a price that the consumer is pleased with but that the dealer still profits from. Of course, this isn’t always an easy process so be prepared to keep asking for discounts, for inclusion of free extras or for other incentives. Usually it is the combination of these – and not just the final sale price – that makes for a successful negotiation.
For some added leverage shop at the end of the month when salespeople are trying to meet their monthly quotas (and are more likely to cut you a deal!). And, remember that you can always walk away if you can’t reach an agreement you are happy with. Don’t be afraid to do so if you feel the negotiation has failed. You can always find another dealership or come back another time.
Check out this article from Edmunds.com with some great strategies on how to negotiate the best deal.
 | A LOZO expert posted this tip. |