ARE YOU GETTING THE BEST DEAL YOU CAN?
This is by far the least favorite thing for most consumers to engage in when purchasing a new or used vehicles. Negotiating is an art form in and of itself and takes time to master. Many people never do because they do not like confrontation, or simply never get enough practice. Most people associate negotiating for a car or truck, with the pain of going to the dentist for a root canal, and quite frankly, many would choose the dentist if given a choice! There are some folks who actually enjoy the art of negotiating, and are very good at it. For most of the buying public, this does not hold true. The good news is that if you fall in to the negotiation averse category, is does not have to be that way. There are a few things that you can do, to alleviate the stress of engaging in negotiations with a car dealer(* see private party sales for tips on negotiating for these vehicles).
- The easiest way to alleviate the stress is to email dealers for online quotes. This is really effective especially for new cars. All the dealers in your area pay the same thing for cars and some are willing to offer deep discounts to online shoppers. This will keep you separated from an atmosphere that may make you feel uncomfortable. It also forces the dealer to be super competitive, because they know you are contacting multiple dealers. It is very important when asking for online quotes, that you are specific on every detail of your desired car or truck. Some dealers will attempt to “conveniently” leave out some details, and then when you visit the dealership, to complete the paperwork you are greeted with some surprises. This can be very frustrating, and can turn in to a big waste of time. This is easily avoided by being perfectly clear, on the details of your request. When I say specific, I mean model, color, options, equipment, accessories, etc., and specifics on financing or leasing. If you are looking for a lease quote, be sure to specify the lease term, mileage, and money down, along with the details I mentioned earlier. It is not uncommon for some manufacturers, to offer different incentives for buying or leasing so you must be clear on everything.
- The second easiest way is to bring someone along who is skilled, or at least familiar with negotiating. This will provide a buffer zone sort of like a “good cop bad cop” situation, and make it easier to deal with the stress of it all. More than likely there is someone close to you, that has bought several cars over the years and is very familiar with the process, and can help you immensely. This will keep the dealer or salesperson “honest”, and keep you from feeling pressured to make a decision. A separate voice of reason is always a good thing, especially when making a large purchase such as a car or truck. No matter if you go alone or with someone else, just be prepared and have a plan. You must have a clear picture of what you want to pay for the vehicle, or if you are financing or leasing what your monthly budget is, and stick to it. In your mind, you can have a stretch zone of how flexible you can be but do not go beyond that. Never let the effects of emotional involvement(becoming attached to the vehicle), get in the way. It will cost you a lot of hard earned money that you will never get back. Many times if you are financing or leasing a car, the salesperson will ask “where do you want to be on your montly payments” or some variation of this question. Never answer this question!! This will allow the dealer to structure the deal according to your payment needs. This will lead to you paying more than you should, and potentially putting you in a bad financial position by extending terms, and increasing downpayments. The bottom line is that if you allow the selling dealer to control the sale, it will could cost you hundreds, if not, thousands of dollars. Set a budget and stick to it no matter what! It is important to remember that in reality, you are in control of the sale at all times! You have what they want, which is your money, and there are far more cars and trucks available than there are customers. If you keep this in mind at all times, it will lessen the pressure and allow you to think clearly and negotiate a great deal. It bears mentioning that the laws of supply and demand can weigh heavily when negotiating for certain vehicles. If the vehicle is a hot new model or rare used vehicle that is in high demand, then your leverage is severely diminished, if not completely non existent. If you want to be the first one on the block to have it, then just be prepared to pay all the money for that particular car or truck, and be happy that you did.
- If you are really averse to negotiating for a car or truck, and do not want to step foot in a dealership unless you are paying for it or signing contracts, then I strongly suggest you hire someone( a friend or family member) to do it for you, or a professional buying service. If you google these services, more than likely there is someone in your vicinity that offers this type of service for a fee, and can save you time and aggravation. Just ask for references and see if there are any online reviews for the person, or service. I have heard stories of some of these people or companies “playing both sides” . This means that they have agreements with certain dealers to funnel the consumer, and are getting paid by you and the dealer. This usually translates in to you more than likely paying more than you could have, if they only had your interests at hand.
- The next way if you want to have the confidence and go it alone, is to educate yourself. There are several books available that are very good, and will give you the skills necessary to negotiate a great deal on your own, and be proud that you did. There is a huge selection of these books on Amazon.com so you can punch in the keyword negotiation, or car buying, and it will pull up several choices. I encourage you to browse some of the reviews and select something that is highly recommended by others. I will be offering up some reviews of these books in my blog, to help you select something that will be easy reading, and give you the most current information and techniques.
To sum it all up, negotiating is a necessary part of buying or leasing a new or preowned car, so it pays to brush up on your skills and get the best deal possible. I have provided you with some solutions, so choose the best approach for you and go out with confidence and get the car or truck of your dreams