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Negotiating a new car purchase - any tried & true tactics?

IdaClaire
4 years ago

Looks like we will start the process of negotiating the purchase of that cute little Mazda Miata I’ve been wanting very soon, and as it’s been a few years since either of us did this, I thought I’d see if any of you have any tried-and-true tactics, methods, or mantras that you can share. Particularly since we’ve just had a lengthy thread on the purchase of new vehicles, I feel certain there’s a wealth of experience and knowledge here. I’ll preface this by saying that I know the negotiating process may hinge somewhat on whether one is paying cash or financing a new vehicle, but what I’m interested in capturing are thoughts on whittling down the actual cost of the car from the MSRP on the sticker. I’ve compiled my own list of things that I believe are important. Your mileage may vary, and you may have other things to add. Please do!


• Use sites like Kelley Blue Book and Edmunds to get a feel for what constitutes a good price on the vehicle. I suppose this helps a buyer know if they might expect to get, say, $2k off MSRP based upon what has transpired with similar vehicles sold in her area.


• Forget about using sites such as Truecar-dot-com, which appear to be little more than a sales lead generator for the dealership.


• I don’t have a great feel for otherwise negotiating a new car purchase online. DH wants to do it the old school way, and simply go into the dealership and sit down with a salesman to start haggling. In light of this, it’s sort of a “gird your loins” process in which you’ve really gotta psych yourself up, and you’ve really gotta NOT be emotionally invested in the chosen vehicle. I fully understand that sales plays to the emotional aspect of car buying.


• You aren’t there to make “friends” with the sales staff. This is a business transaction, and one in which the dealer is out to make the absolute most money he can off of you. (“Friends” don’t do that, so go in prepared to be respectful but absolutely, firmly professional in demeanor. We don’t need to “share about our personal lives”; in fact, this is a common sales tactic designed to make a buyer lower her guard.)


• Be prepared to get up and walk, especially if the salesman leaves you sitting for extended periods of time while he “works to get you that best deal.” It takes all of 30 seconds for the salesman to visit his manager; again, “making you wait” is designed to lower your defenses by making you tired, probably hungry (seems like we usually sit there so long that we're past lunch or dinner time) and just ready to get a deal done.


• Be relatively reasonable with your price demands, but stick to them. Be prepared to start low (but not ridiculously low), and be prepared to come up on your price. Know that the dealer will dig in his heels to come down as little as possible on HIS price. Be prepared to walk out if things are not proceeding smoothly.


I’m sure there’s much I’m forgetting that I already DO know, and much I don’t know. DH is retired from sales and knows the drill, and I’m hoping his past experience combined with the fact that he obviously isn’t a “kid” will help with the process going smoothly and not becoming TOO bogged down in the ridiculous game-playing that goes on. Anything you can share about your own experiences?

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