It’s part of the car dealer’s job to practice negotiation and sell cars at a price that profits them. So how do you, as a buyer, negotiate strategies to get the best dealership price you can get? Here are 5 strategies to consider when purchasing a car:
- 1. Watch for Over-the-Top Display of Emotions
A lot of times, when negotiating for better prices, a car salesman will most likely not only provide a counter-offer but also stir up emotions that are over-the-top to gather empathy and a sense of unfairness on your part for lowering the price. Most often, the car salesman will make it seem like it was something you did wrong. This is where you’ll have to discern whether these emotions are valid or feigned. Don’t fall into the trap of feeling like your counter-offer or proposed price is not valid. It should be valued and a professional salesman will take that into account and negotiate in a calm and tact manner.
- 2. Know the Way it Works
The most important thing is to understand how buying and negotiating works. One way is to do research on car buying strategies that best fit you. The more knowledge you gather, the better you can negotiate. A common negotiation tactic is “good cop, bad cop” where you are enticed to a promising deal and you’ve think you struck a good one. You bring in another with no emotional attachment for the hard headed questions. This strategy will remove you from emotional attachment and bring someone that has no attachment to give you a second-eye before making your final decision.
- 3. Don’t Stop Negotiating
Don’t stop self-advocating for the price you think is right for you. A lot of times, people don’t realize that, in order to get the offer you want, you have to continue to push and not let your guard down. Try the practice of anchoring, which is basically discovering the best-case outcome for you before going into the negotiation stage. By doing this, you will already have a price bracket in your mind. By gauging that for yourself, it’ll help you during the negotiation process and allow you to stand up for yourself better.
- 4. Follow-up the day before closing date
Call the salesman a day before the closing date of your deal to see if you can discuss another figure or offer as possible. If the dealership has had a bad month, they’ll be willing to lower their offer to make their monthly quota. They’d rather make a smaller amount of money than risk having you walk away to find business elsewhere.
- 5. Know your car’s worth
Most times, dealership overvalue the car to make more profit. The more you know the value of your car’s worth, the better you can negotiate the value of the car. This way you’ll know whether the dealership is asking for more value for your car than it actually is. This can play huge in your negotiation.
Negotiation is less overwhelming when you understand and have strategies to work yourself through the process. Now, go out there and negotiate for your car.