How to negotiate a deal when buying a new car?

Posted on July 21, 2017 by Guy Atkinson

According to WorldOMeters, there have been 42 million new cars made so far this year, with the number increasing by the second.  Whether you see a car as a way to get you from A to B, or you see it as a statement and want the latest model, negotiating the best deal is always essential.

Know your budget

Before you even begin researching exactly what car you want to buy, it is essential to set yourself a limit.  Always keep this figure in mind during your search, but never let the salesperson know your upper limit and always start off at a lower amount than you are willing to pay.

When setting your budget, always ensure you are taking into account the cost of running the car.  This includes maintenance, repairs and replacements.  Take into account petrol costs and unforeseeable issues such as punctures.  For a quote for tyre repairs or replacements from a friendly and reliable company, visit the tyres Swindon page of the Wiltshire Tyres website.

Shop around

The best way to ensure you are getting the best deal you can is to shop around.  You should never pay more than you should, even if it is within your budget, so make sure you know exactly what the car is worth. Use price comparison websites and visit a number of car dealers in your area. Remember they are the experts who negotiate for a living, so be as prepared as you can.

You should also ensure that if you are part-exchanging that you know what your current car is worth.  Get a number of different quotes to give you an accurate idea.

Know the facts

It is not just essential that you know the price you should be paying, but you also need to be aware of a whole host of other facts. Do your research so that you know what you’re talking about, and the salesperson is more likely to take you seriously.  If you give off the impression that you are clueless about cars, the salesperson is going to take advantage.

Have the right attitude

When trying to negotiate the best deal, it is essential that you strive to give off a good impression.  Sales are all about establishing a relationship.  Always be polite, and you will be in a better position to get a good deal.  According to The Telegraph, those who politely asked for a discount from their bank saved an average of £102 more than those who asked bluntly.  The same applies here, if you start making threats and dictate all the terms of the negotiation, they are not going to respond well.

Be assertive

While it is essential to be polite, you also need to be positive and assertive.  Try to detach yourself from the situation emotionally, so you are not swayed into paying more because you have fallen in love with a car.  If you show too much interest, they won’t budge on their price in the hope that you will cave.

Use the right tactics

Our final tip is to pick the right time.  If you visit a dealership at the end of the day or, even better, on the last day of the month, it is likely the salesperson will be under pressure to meet targets.  One last sale might give them the push they need, and you could just get a great deal.

Good luck and negotiate the best price you can!

Tip of the Day

Time management for Finance Professionals

time management

 

I’ve just re-read Richard Denny’s fantastic book ‘Selling to Win’, in which he mentions a time management technique that I learnt many, many years ago from an old boss of mine.

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