When you’re buying any item, especially large, expensive items such as cars, there’s room to negotiate. Failing to try to negotiate the price of your next car could see you spending hundreds or even thousands of pounds more than you need to pay. It can be tricky to start a negotiation and find the best way of getting a good deal. This article has a few tips you can use to help with your next car negotiation.
Understand all of the features and model range
Research is essential when it comes to buying a new car; this research can also help you in the negotiation process. Understanding all of the different options you have and what they include allows you to get specific with the negotiation process. Make sure you know the full recommended retail price (RRP) of each model in the range; you can usually look this up online before heading to speak to a dealership. If you want a certain trim level, you can make sure the car you’ve agreed to includes this. In addition, new car sellers may try to reduce the price but offer a lesser model; you can avoid this if you understand all of the specific options.
Visit in the week
Weekends tend to be very busy for car dealerships; this can make it challenging to get a reasonable amount of time alone with someone to negotiate. The employees will be rushed and speeding through dealing with the various customers that want to talk to them. If you choose a weekday to go and visit a dealership, you’re more likely to be able to spend time negotiating without feeling rushed by the employee or other waiting customers. The car salesperson will be able to dedicate their full attention to your needs.
Take your time
Cars are very expensive, and rushing into buying a new car is a bad move. You need to take time out to review the conversation and your options and make an informed decision. Car salespeople will try and get you to commit right away, but chances are you’ll be able to negotiate a similar deal in the future. A good salesperson will give you enough time to mull over your options and have one last look at the other prestige cars on sale. Keep your cool and know when to say, “thanks, I’ll get back to you tomorrow with a decision”.
Start with a lower price
All negotiations should start at a lower price than you’re willing to pay. This allows you to discuss and move upward in price as part of the negotiation process. It’s very unlikely the dealer will agree to the first price you suggest unless it's close to the RRP. Go lower and work your way up to the price you’re willing to pay. You should also be realistic about the negotiation; the dealership won’t be happy if you offer a really low price, for example, half of the RRP.
Have a budget in mind and be firm
Before you begin the negotiation, you should have a budget in mind; this should be based on your research and your finances. You also need a list in your head or written down of exactly what you want your vehicle to have in terms of features and specifications. If the dealership isn’t willing to come down to your price, don’t feel like you have to increase your budget. It's perfectly acceptable to walk away and go to another dealership. Never put yourself in financial hardship when it isn’t necessary.
Be friendly and relaxed
The conversation will be much easier and less stressful if you go into the negotiation process with a friendly and relaxed attitude. Try to build a rapport with the salesperson; this can help you unlock additional savings. However, you should avoid opening up too much and letting the dealer know how desperate you are to get a car if that’s the case. The less knowledge they have about how long you’ve been looking and your situation, the better. Keep things calm, casual and friendly; that way, there is no pressure, and you can easily walk away without things feeling awkward or tense.
Resources:
- Super Car for Sale - Home.blog
- Supercar Sales - Telegraph
- Sports Car Sales - Ameba Ownd
- Prestige Cars for Sale - Business.blog
- Performance Car Sales - Coda