Negotiating a car’s price may not be the most exciting task you have on your to-do list this week, but it can save you hundreds of dollars and hours of headache. Whether purchasing your next car, new or used, it is essential to know what you want and how to navigate the buying process. However, one of the most common mistakes that people make when negotiating their car’s price is forgetting to consider “hidden” costs.
How to Prepare for Negotiation
You must prepare yourself for the negotiation and how you do that by educating yourself about the vehicle you want to purchase. Research the car’s selling price by looking at advertisements and seeing what other dealerships sell the same make and model for.
Research the blue book value of used cars in Hollywood FL to determine their worth.
You never want to accept the first price that is offered to you. If you would like, you can counter with a lower price than what they have offered. This will give them room to work with and may drop the price even more than where they started.
When to Use a Salesperson vs. the Internet
Sometimes it’s best to negotiate over the internet if you feel like it’s in your best interest. This is something you need to feel out of yourself. If you’re not the type of person who feels comfortable haggling in person, the internet is a great choice. However, don’t be too quick to forfeit the opportunity to negotiate face-to-face.
If you want to take advantage of the extra customer service that employees provide, you may consider haggling in person. When your dealer is putting his face next to yours, you’re generally going to be more comfortable talking with him. Also, many people feel that you’re more likely to receive a good price from a dealership if you’ve personally met the salesperson.
The Top Mistake Is Not Understanding Your Buying Power
The customer has all the power in this situation, and a good salesperson knows that fact. Most people don’t realize how much power they have in a negotiation. You should never let a salesperson intimidate you.
The dealer’s goal is to acquire the sale and make a profit, but it’s up to you to make sure you get a beneficial deal for both parties. You should feel comfortable negotiating the price of the car so that both you and your dealer are getting exactly what you want. Never allow yourself to be pressured into paying more than what’s fair.
The Person in Control Is You and Not the Salesperson
You’re in control because it’s your money. When the salesperson asks you to decide on the spot, tell him that you need some time to consider his offer. This will allow you to do some research on what you should be paying for the car. Then, this will also give you more leverage during your negotiation with them.
They may be more inclined to work with you on the price if you tell them that you want to do some research before making a decision. Your car purchase is significant, so don’t rush it. You have all the power because they want your money and you can buy a used car anywhere you want.