There are several steps you can take to buy a car for less than the dealers preferred price. If you do plenty of research at the beginning you can get your car for the manufacturer's retail price with all fees applied. There are four square basics and negotiating tips that can help you achieve this goal.
Step 1: Information on the Selling Process
In order to successfully negotiate for the lowest price possible you need to have the same information as the dealer. You need to know the true market value of the car so you know where to begin negotiations. Your offer can be low but it still needs to be in the ballpark. You can find the true market value of the car on many car websites that provide this information.
Step 2: Take your Time
If you need your car right now then you will not get the lowest price possible on your car. You need to have some time to find the car you want for the price you want. This may take a few weeks if not longer. This includes spending time at the dealerships as you may be there for several hours. Rushing any part of the process may mean you have lost out.
Step 3: Step Away from Intimidation
You should never negotiate with anyone that intimidates you. You are the one that should be in control. If you are dealing with a salesperson that intimidates you then you will back down and not use all your research to help get you the best deal possible. Your negotiating should be a win- win situation for both parties.
Step 4: Take some Risks
Negotiating means that there are risks involved and the best thing to do is treat it like a game. The salesperson will be taking some risks so you should be prepared to take some risks. If you are not happy with how the negotiations are going, you can always walk out.
Step 5: Use Comparison Shopping
You can get quotes easily online and see which dealer is offering the lowest starting price. There are also comparison sites online that will tell you which dealerships are offering specials and discounts. You can call up the dealers to see what they are quoting for the vehicle you are interested in. The best deals can be found the last two weeks of the year and from July through October.
Step 6: Extras and Fees
All cars will have additional fees besides the agreed upon price. If you do not know what the added money is on the price, you should have it explained before signing everything. Some of the fees to be aware of include document fees, battery disposal, floor mats, maintenance and transportation fees. To ensure you get the best deal you want to pay for as few fees as possible. Be aware that any add-ons will cost money. If you have agreed to some add-ons, make sure that you are aware of what they will add to the bottom line. Sometimes you can negotiate to get these add-ons for free.