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Vehicle Purchase Negotiation Tactics
- Thread starter Linux23
- Start date
They will almost always tell you that "the deal I just wrote out for you is only good for today" or "if you leave here the deal is no longer valid and we'll have to re-negotiate and I won't be able to go this low again". Don't fall for it, you're money will still be good tomorrow just like it is today.
If you aren't doing a trade in, it helps to keep things simple.
Basically, what I do is hit http://www.edmunds.com and look at the car I'm interested in. Check out the invoice price, the price of all options I'm looking at, current promotions, and where the "TMV" falls between the MSRP and invoice.
Then I decide what I'm willing to pay for a car. I know going into the dealer what I am willing to spend. I try and shoot for around 2%-3% above "invoice", and then take off any rebates or incentives.
The invoice they show, and the invoice you see on websites isn't *really* what the dealer pays, but it's usually much lower than MSRP so it's better than nothing to go from.
When I actually go to negotiate, I tell the sales guy right up front that I'm not going to banter back and forth. Give me his best deal up front and lets get this thing closed up. If it's not in that 2%-3% above invoice range that I was looking for, then I get up and leave. I try to go in right at closing time to help expedite things too.
There are people out there that will disagree with me, and say that you should try and get as close to invoice as possible. That's fine. I've got better things to do with my time than spend 8 hours in a dealer dickering over $150-$200. All it does is make you frustrated and the dealer will hate you and your service will be non-existant in the future.
Basically, what I do is hit http://www.edmunds.com and look at the car I'm interested in. Check out the invoice price, the price of all options I'm looking at, current promotions, and where the "TMV" falls between the MSRP and invoice.
Then I decide what I'm willing to pay for a car. I know going into the dealer what I am willing to spend. I try and shoot for around 2%-3% above "invoice", and then take off any rebates or incentives.
The invoice they show, and the invoice you see on websites isn't *really* what the dealer pays, but it's usually much lower than MSRP so it's better than nothing to go from.
When I actually go to negotiate, I tell the sales guy right up front that I'm not going to banter back and forth. Give me his best deal up front and lets get this thing closed up. If it's not in that 2%-3% above invoice range that I was looking for, then I get up and leave. I try to go in right at closing time to help expedite things too.
There are people out there that will disagree with me, and say that you should try and get as close to invoice as possible. That's fine. I've got better things to do with my time than spend 8 hours in a dealer dickering over $150-$200. All it does is make you frustrated and the dealer will hate you and your service will be non-existant in the future.
XZeroII
Lifer
I ususally give em about 5-10 minutes to get me a price. DON"T let them ask you if you have a trade in. DON"T let them ask you what you want for monthly payments. if you are going to answer them, just say "i want to focus on the price fo the car, im not concerned with payments and trade in right now. one thing at a time."
they will always ask you "how soon are you looking to buy" and the only "accpetable" answer to them is "today." when they ask you this, just say oh, im not sure, or say soon and only soon. dont say how soon, just say soon. or, say that you are not really concerned with how soon you are going to purchase it. they ususally ask you this when you are lookin at cars on the lot or like when you are storlling in the floor room.
although most salesmen don't like it, if you are "just looking" say that, maybe you are just looking at the car and checking it out after you read about it in car and driver or something.
Just focus on the price of the car. they ask you about trade in and monthly so they can make moeny off you in other parts of the deal, especially in the financing office. Also, nothing is concrete or legal until you sign those papers in the financing office and take delivery of the car.
as mentioned before, don't buy on the first day you go there, unless they give you a killer deal, and by killer deal, it the car you want, and you thoroughly researched price and the car itself, either by means of online or something else; a book.
don't let them know how bad you may want a car. they use that against you.
read all the papers. really. i know it's a lot of stuff, but hey, how do you know what they say you are signing is really what you are signing? and, if you have any questions about anything legal in those papers you sign ask the questions, and the people better be able to answer you.
always ask for complimentary floor mats. asking questons doesn't hurt any.
thats about all i can think of right now from what my father told me about buying cars.
they will always ask you "how soon are you looking to buy" and the only "accpetable" answer to them is "today." when they ask you this, just say oh, im not sure, or say soon and only soon. dont say how soon, just say soon. or, say that you are not really concerned with how soon you are going to purchase it. they ususally ask you this when you are lookin at cars on the lot or like when you are storlling in the floor room.
although most salesmen don't like it, if you are "just looking" say that, maybe you are just looking at the car and checking it out after you read about it in car and driver or something.
Just focus on the price of the car. they ask you about trade in and monthly so they can make moeny off you in other parts of the deal, especially in the financing office. Also, nothing is concrete or legal until you sign those papers in the financing office and take delivery of the car.
as mentioned before, don't buy on the first day you go there, unless they give you a killer deal, and by killer deal, it the car you want, and you thoroughly researched price and the car itself, either by means of online or something else; a book.
don't let them know how bad you may want a car. they use that against you.
read all the papers. really. i know it's a lot of stuff, but hey, how do you know what they say you are signing is really what you are signing? and, if you have any questions about anything legal in those papers you sign ask the questions, and the people better be able to answer you.
always ask for complimentary floor mats. asking questons doesn't hurt any.
thats about all i can think of right now from what my father told me about buying cars.
I've only bought a car from a dealer once. This is how it went for me.
I first went to a chevy dealer and was looking at new Cavaliers (not what I wanted but fit my budget). That dealer saw me as an easy take and wouldn't budge on 15K for a cavalier. I walked off the lot. The female sales rep tried flirting and calling, etc.
The next day, I emailed another dealer about the same car and he was evasive. Wouldn't answer any questions about prices or incentives.
The third day, I browsed the internet and found a 2002 Grand Am, used with 17,500 miles on it listed for $10,900. (this was april 2003). I looked up the Kelly Blue Book on it and saw it was rated about 12,000 with the options it had. I went and checked it out. The salesman was very cool, gave me a key and told me to go for a drive and check it out.
I liked it much better than a cavalier and wanted it. I started negotiating with the dealer. Having a great credit history helps immensely. He wouldn't lower the price any but I did get him to up my trade in from 600 to 800. I then worked on the APR of the loan. He offered 5.9%. I have a credit union account and know they offer car loans as low as 4.5. I bluffed and said I was approved for one and would be back for the car Monday after getting the loan from my credit union. He came back and offered me 3.9% APR. I thought it over, knew it was a good deal, but wanted to leave and think about it.
I left and decided it fit my budget and was a good deal. I called him on his cell phone and said I'd accept if it was ok if I took my cd player out of my old car before trading it in. He accepted.
When doing the paperwork, they'll offer you a bunch of other options and services. I was told they'd lower my APR further if I picked two of these options. I worked the math and figured that the two cheapest options (total of $350) would lower my APR enough that I would save money by buying them. So I finished with a 3.58% ARP on my loan.
That's the extent of my experiences.
Don't be afraid to leave and think things over. The pressure is on you to impulse buy when you are on the lot.
-DAGTA
I first went to a chevy dealer and was looking at new Cavaliers (not what I wanted but fit my budget). That dealer saw me as an easy take and wouldn't budge on 15K for a cavalier. I walked off the lot. The female sales rep tried flirting and calling, etc.
The next day, I emailed another dealer about the same car and he was evasive. Wouldn't answer any questions about prices or incentives.
The third day, I browsed the internet and found a 2002 Grand Am, used with 17,500 miles on it listed for $10,900. (this was april 2003). I looked up the Kelly Blue Book on it and saw it was rated about 12,000 with the options it had. I went and checked it out. The salesman was very cool, gave me a key and told me to go for a drive and check it out.
I liked it much better than a cavalier and wanted it. I started negotiating with the dealer. Having a great credit history helps immensely. He wouldn't lower the price any but I did get him to up my trade in from 600 to 800. I then worked on the APR of the loan. He offered 5.9%. I have a credit union account and know they offer car loans as low as 4.5. I bluffed and said I was approved for one and would be back for the car Monday after getting the loan from my credit union. He came back and offered me 3.9% APR. I thought it over, knew it was a good deal, but wanted to leave and think about it.
I left and decided it fit my budget and was a good deal. I called him on his cell phone and said I'd accept if it was ok if I took my cd player out of my old car before trading it in. He accepted.
When doing the paperwork, they'll offer you a bunch of other options and services. I was told they'd lower my APR further if I picked two of these options. I worked the math and figured that the two cheapest options (total of $350) would lower my APR enough that I would save money by buying them. So I finished with a 3.58% ARP on my loan.
That's the extent of my experiences.
Don't be afraid to leave and think things over. The pressure is on you to impulse buy when you are on the lot.
-DAGTA
lobadobadingdong
Lifer
I don't haggle, I tell them if your first offer on the vehicle I want isn't satisfactory I'm going to another dealership. (edit: and make good on my word, have had some salespeople pissed off because I actually left at a couple of places) Got my ranger sticker price of 24k for 14k that way, my dakota sticker price 26k for 18k that way....the way I figure it, you either get a salesman who wants to sale you a car, or one who wants the most commission he can weasle out of you per sale. take note when I bought my dakota, I had to go to ~16 dealerships before I got a reasonable offer, the ranger was purchased at the first ford dealership I tried.
Schadenfroh
Elite Member
hot wire the mofo
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