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"Never Be The First Person To
Start The Car Price Negotiation"
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How To Negotiate Buying A New Car
Before you start to
negotiate
on purchase price for a used car make sure that you do your research. Consider
the following points:
Once you have got all of the information you need, only then should you start
the
car price negotiation process.
Never Be The First Person To Start The Car Price
Negotiation
Buyer Wins:
Buyer: You're asking 10 000 for the car. What's your best price?
Seller: Well, how much were you thinking to pay?
Buyer: Silence. I don't really know, give me your best price.
Seller: My best price is 9900.
Buyer: Given the condition of the car I was thinking of offering you 9600.
At this point the seller knows that he will have to move towards the 9600 mark
in order to make the sale. Buyer wins.
Buyer Loses:
Buyer: You're asking 10 000 for the car. What's your best price?
Seller: Well, how much were you thinking to pay?
Buyer: I only really want to pay 9600.
Seller: No. The lowest I could go to would be 9950.
At this point the buyer knows that he will have to up his offer towards the
9950 mark. Buyer loses.
Other Car Negotiation Points To Keep In Mind
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Always have a maximum car price
in mind that you are willing to pay and stick to this price (do not tell the
seller what your maximum price is).
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Successful car negotiations
can take days. Don't be pressurized by a seller who claims that buyers are
lining up to pay the full asking price for the car, because they are not.
-
Be prepared to point out any negatives on the car, such as worn discs and brake
pads that will soon need replacing.
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Most sellers expect to negotiate on car price
and often inflate the price of the car to cover the cost of haggling.
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Stay calm, look disinterested. Don't appear desperate to buy.
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Car salesmen want your business - most will be prepared to negotiate to get it.
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Don't be distracted by the offer of extras designed to deflect you from getting
the discount you want e.g. reduced finance deals or cheaper warranty insurance
instead of a reduction in the forecourt price. Always haggle for a discount
first, then go for any of the extras you might want.
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The most important thing that any seller considers is not if, but when they
will sell their car. A private seller will often be quite keen get rid of their
motor and will be open to car price negotiation. Similarly all car
dealerships seek to have a high stock turnover - consequently car salesmen will
be under pressure to meet their sales targets. Any car salesman who refuses to
negotiate is not taking you seriously. In this case you will need to restate
how much you are willing to pay and why. If this fails then be prepared to walk
away.