It’s commonly said that buying a new car would probably rank right behind buying a house as one of your largest financial decisions. Never be afraid to haggle for a better deal on a new or used car because even purchasing an inexpensive car requires a major outlay of funds.
The most crucial thing to keep in mind is that confidence is essential when haggling for a new or used car. You shouldn’t be ashamed to try to lower the price; the worst that can happen is that the seller rejects your offer. There are several strategies to haggle with salesmen, but the most important thing to keep in mind is that you are both trying to complete a sale.
You should enter the negotiation with an objective in mind, even if there is no set percentage of discount you should aim for when purchasing a car. This helps you stay focused on your desired payment. If you are clear about what you want, it enables transparent talks with salespeople, who have a job to do. Try to appear open to compromise while maintaining your sense of reality. Ask them what they can do if your offer or the amount you want to pay each month is rejected right away, and you can work from there.
You might discover that dealers are less inclined to provide a discount due to a lack of availability and high demand for used vehicles. Though it might not be as substantial as it was a few years ago, deals are always available.
Before you begin negotiating, you should conduct some research in order to acquire the best possible offer. Continue reading to learn how to get ready and bargain for a better deal on your next car.
- Choosing a car after doing your research
Having a firm decision on the specific car you want is quite helpful when you’re speaking with a car dealer. You need to keep this in mind from the very beginning of the car-buying process.
Keep a close eye on the features you like and don’t like when test-driving a car or even just browsing them online. Create a shortlist of cars, then cross each one off one by one. Once you’ve made your decision, you may pick on specifics, such as your preferred specification, colour, and whether you want an automatic or manual transmission. Your position in negotiations will be stronger if you are more explicit about what you desire.
- Know the cost
You must first be aware of the car’s official recommended price before engaging in any negotiations. The purchase price of a car and any available options are typically stated on the manufacturer’s website, and the majority of automakers also release brochures and price lists that include this information.
Being prepared with a specification in mind and being aware of the manufacturer’s suggested pricing gives you the upper hand in negotiations. Additionally, you will be able to tell right away if the dealer is trying to upsell you.
Although, unless there is something you really require, we advise you to have an open mind and avoid becoming fixated on a specific specification. Many manufacturers have had to cut back on the number of models they provide due to component shortages, and some may continue to offer this more condensed selection even after supply increases to simplify the alternatives.
- Keep your cool to get a better deal
Since it is their duty to communicate with people, car salespeople are typically friendly and personable. You should always keep in mind that you have a goal in mind, even though they are trained to develop a connection with you in order to help you make a sale. It’s critical to stay focused on the deal you desire while also making an effort to get to know the sales team.
Keep your goal in mind at all times. Even though it occasionally happens as a pleasant side effect, you didn’t go to the car dealership today in hopes of making a new buddy. The salesperson’s goal is to maximize profit for the corporation, so your only motivation for sitting at their desk is to negotiate the best possible bargain.
Try not to make it immediately clear if the first deal a salesperson offers you genuinely meets your expectations. Instead, request that they walk you through the deal to ensure that it is as excellent as you think it is.
- Keep your options open to scrutiny
A dealer will typically give you a better bargain on a car that is already in stock than on one that needs to be custom ordered for you. You should nevertheless be aware that dealers must maximize the revenue they generate from the vehicles they already have due to the lengthy wait times for new vehicles. If you see a car that fits your needs, show interest in it instead of committing to it, and then see if a bargain is likely.
It is best to keep your search for a car with a certain feature to yourself at first if you happen to encounter one on the forecourt, such as heated seats or folding mirrors.
- Don’t be scared of money
It might be a good idea to initially keep your auto dealer in the dark if you intend to purchase your new vehicle outright. Selling vehicles with financing is typically in a dealer’s best interest because these deals frequently include manufacturer-sponsored incentives that can be highly alluring.
Don’t fully discount the dealer’s financial packages; being open to the concept of financing can open the door to a better offer. Utilizing dealer financing in some circumstances really works out to be less expensive than borrowing money from your bank. The alternatives available to you are explained in our guide to auto financing.
- Be considerate
Although you should expect auto salesmen to be friendly, playing hardball and coming off as distant and standoffish can hurt your chances of receiving a fair price. When you and the dealer negotiate the price of a car, it may be likened to an elaborate dance as you figure out where each other stands.
Throughout this process, be careful to keep a good rapport with the dealer because the better the deal you receive, the less money the dealer will make when it comes to bonus time. They might concede more ground if they like you.
- Don’t hurry
It’s all too simple to purchase a car in a hurry because of the allure of a new vehicle and other factors like a growing family or a new job. If you need an automobile right away, keep it to yourself at all costs. If a dealer gets the sense that you’re in a rush to buy a car, they might think they don’t have to provide you with their best deal in order to win your business.
- Before haggling get a comprehensive quote
When purchasing a new car, be sure to know exactly what you’re negotiating for. A “stacked deal” may be used by some salespeople. They offer a ton of options (that you might or might not want) at this point, like paint protection, floor mats, or an extended warranty, before taking them away and lowering the price when you start negotiating.
This gives you the impression that you are a skilled negotiator and are receiving a great deal when, in reality, the dealer is using their (somewhat shady) abilities.
Conclusion
We hope that our insider knowledge of vehicle dealers’ techniques may be of further assistance in this regard. Remember to just ask for a deal, whether you want to get a new Rover or a used Kia. Once the dialogue has begun, you’ll be well on your way to negotiating the price you want.
