Everyone loves the feeling of getting a good deal on something. Especially if this “good deal” helped you to save a decent amount of money on something, most people find that it’s usually worth whatever little hoops you had to jump through in order to get it. One area where this idea is very evident is when buying a vehicle. Most people know that prices for cars can generally negotiable. However, doing the actual negotiating can be stressful and overwhelming. So to help make this task a little easier on you and save you a lot of money in the process, here are three tips for negotiating when buying a new car.
Do Your Research
Before you get to the car dealership, the best thing you can do to prepare for the negotiating process is to do your research beforehand. According to Eric C. Evarts, a contributor to U.S. News and World Report, the majority of your research should focus on finding a fair price for the car you’re considering buying. Once you know what that car is worth, considering all the factors and variables, you’ll be able to have some solid ground to stand on when attempting the negotiations. You might have to look at various websites to get a good overview of prices, but it could prove to be very worth it to you in the end.
Don’t Get Intimidated By The Salesperson
When you’re speaking with the salesperson at the dealership, it can be very easy for many people to become intimidated during the negotiation process. However, it’s worth mentioning that you truly do have all the power in this exchange. According to Consumer Reports, salespeople might try to make objections or bring up other numbers or try other kinds of ploys to get you to move up, up, up on your price. But if you’ve done the research, you’ll be able to know if they’re asking too much or moving you too far out of your comfort zone. So to ensure that you don’t get yourself in over your head, don’t allow yourself to get intimidated during this process.
Leave If You Need To
One of your greatest powers during the negotiating process is your ability to leave whenever you want. If the salesperson is putting too much pressure on you or you don’t feel like the negotiations are going where you want them to, simple get up and leave. Elisabeth Leamy, a contributor to the Washington Post, shares that some salespeople use tactics that try to wait you out so you’ve invested more time in this deal and are therefore more likely to close it just so you can get it over with. But if this is causing you to spend more money in the long-run, it’s not worth going through with. So rather than thinking this way, realize which salespeople and which dealerships are really going to be willing to work with you and which ones are just trying to take you for all your worth.
If you’re going to be buying a car soon, consider using the tips mentioned above to help with the negotiation process.