Car dealers are trained to manage your visit as an emotional experience. They incorporate ways into making you try the car such as letting you try to press the pedals of the car, press some buttons, or use some of its technologies. They also want you to get in the car, so you will be soaked up into the smell of a new car or the “feel” of being in the car. Not to mention the variety of technical terms and technologies they mention as well as the car’s advantages over its rivals. They do all of these in the hope of hearing you agree to the first number that they ask for its price.
Car dealers are trained to be good salesmen and are experienced negotiators. However, there are ways to be on par with them. Here are some ways to negotiate with car dealers.
Research
The first thing to do before purchasing a car is to research data on your preferred car. Know the proper price range of the car and its specifications. For instance, if you are looking for a Ford Ecosport, then you should go and ask for assistance from a Ford dealer. Visiting a dealer’s website may also help you make a list of car alternatives with almost the same specifications. Nowadays, this information is accessible as numerous websites offer the “true market” estimates of a new car or even a used car’s retail value. If you intend to buy a used car, expand your research on the differences or upgrades of the vehicle depending on its year. You can also investigate the wholesale or the trade-in value of your old car if you intend to swap it.
Know the Available Deals and the Dealers
Visit or talk to various dealers. Know the deals they offer, and you may even ask alternatives or options they can offer. Do not be afraid to mention that you have inquired with other dealers as this might likely get you a better offer. It is also advisable to seek dealers that may be outside your area as they may have better deals or more car options.
Look at all the Numbers
You might easily be convinced with deals having a low monthly payment scheme. Dealers will usually quote in terms of the monthly payment, which they will also try to lower by extending the loan term instead of cutting the purchase price of the car. Better look at the overall cost of purchasing the car and compare it with its offered price. It might be likely that you are paying more on the interest. If so, better move on to the next dealer or wait for a better offer.
Before agreeing to the price, you can also ask for the breakdown of fees of the total amount or the “out the door” price. You must know such hidden expenses because some dealers insert bogus charges or even inflating the documentation fee or the filing fee for the contract. This is their way of trying to get back some of the profit that they have given away. If the price is reasonable, try to inquire for any rebates, especially if the car has a cashback offer value. Also, used cars usually have a typical smog fee which also has a corresponding price for the certificate.
Perfect Timing
Another good tactic is restraining from negotiating the price early in the meeting. You can politely decline any of their offers and give them your contact number and leave. Chances are if the proposed price you indicated will be within the realm of possibility, they will call you soon.
It is also worthy to note that car dealers and salespeople have goals to meet for them to get a commission. You’ll be lucky if you happen to be negotiating with someone who has yet to reach their target sales. Expect that they will lower the price or get you a better offer just to make the sale and meet their quota.
Knowing ways to negotiate with car dealers is a real advantage to find the perfect car at a price that you’re comfortable with. You can negotiate better if you are prepared with information on what car you want and on what offers are acceptable for that type of vehicle. It is also helpful to visit multiple dealers to know the deals and have a better comparison. Moreover, one must read the paperwork and be wary of all the fees that come with the purchase to ensure that you really are getting a better deal.