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How to Negotiate the Price of a New Car Effectively

February 8, 2019

The last thing you want to do when you’re buying a new car is to rush into making any rational decisions or be rushed by pushy sales staff who are trying to get you to make a deal. We frequently hear that purchasing a car is possibly one of the biggest purchases that we’ll ever make in our lifetime and that’s a fair statement given how buying a car is such a big decision and can be rather expensive. So before you even think about setting foot into that dealership, make sure that you’ve done plenty of research and have read our guide to help you with negotiations with the dealer.  

 

Here are our top tips that will help you to confidently negotiate a fair price with the dealership:

1.  KNOWLEDGE IS EVERYTHING Knowledge is power and is an enormous benefit to have made clear at a dealership when you’re considering purchasing a new car. We expect sales staff to know it all when we are shopping for a car but this doesn’t mean that you shouldn’t pay attention and be led up the garden path by staff who are trying to reach a sale. By the time you decide to visit a dealership it’s highly likely that you’d have narrowed down your shortlist to just a few cars, which you have learnt a little something about. The more you know about a car that you’re interested in, the better as you may find yourself having an advantage over the sales staff.

2. KNOW YOUR BUDGET Knowing your budget is more important than your car’s price. So before you negotiate, you should do the sums to see if you can determine which deal would be best for you. You’ll usually be able to tell what a cars official recommend price is on the dealerships website, making it a starting point for your negotiations and putting you in a better position. It’s rare that a dealer will go out their way to try and save you some money, so if you happen to be aware of a better model that caters to your budget, then go with it.

3. DRESS TO IMPRESS Although it may not be a job interview, dressing to impress to go to the dealerships is a great idea as it allows the dealership to build a picture of what kind of buyer you are. You should feel comfortable when entering a dealership and dressing smartly may help you with this, as well as feeling more confident too.

4. BRING YOUR SIGNIFICANT OTHER When you’re going to make a deal in relation to a new car, it’s important to take those with you who will be affected by your new purchase. To get the most out of your negotiations, there’s no point trying to make a deal if your partner, who will also be driving your new purchase, is not committed to such a big decision or hasn’t even been consulted about it. If you’re looking to purchase a family car, then try to make sure that you leave the children at home as they may become a bit of a distraction while you’re trying to negotiate. On the other hand, you may find that taking the children with you and getting them involved could help you in terms of the children spotting things that you may have missed and could make all the difference in whether or not you decide to make a deal.

5. KNOW WHEN TO WALK  If you find yourself at the dealership and you’re getting yourself into a bit of a tricky situation, for example, the dealer is not getting anywhere close to where you’d like to accept, then you may find that walking away is probably a good idea. If you find that the salesperson has made you an offer and it’s a take it or leave it situation, then you should consider taking it if the price they have offered is within your target range and is a decent offer.

6. KEEP CALM FOR A BETTER DEAL When in attendance at a dealership, sales staff are generally very friendly and pleasant people, which is great. However, don’t let that very friendly and polite member of staff distract you as this could potentially result in you letting your guard down and sales staff taking advantage. Stay focused and never lose sight of your objective as this will help you to try and secure the best deal that you can. Remember, you’re not there to make friends with sale staff and you’ll probably never see them again, so keep a cool head and remember why it is you’re there.

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