Negotiating for a car can be a smart and cost-effective approach to getting the best deal. Here's my step-by-step guide to help you with the process: Trust me, I have bought way too many cars in my life…. And you thought I only negotiated homes…
- Test Drive and Research: Begin by test-driving various cars and identifying the one you want with the specific Make, Model, and trim level that meets your needs and budget.
- Talk to the Salesperson: Engage with the salesperson at the dealership and express your interest in the car. Let them know you are serious about purchasing but also considering other options.
- Work Up Numbers for Out the Door Price: Ask the salesperson to provide you with the "Out the Door" price, which includes all additional fees like tax, tag, and title. This will be your baseline for negotiations.
- Walk Out the Door: Politely thank the salesperson for their time and leave the dealership without making an immediate purchase. This step is essential to show that you are not in a rush to buy.
- Research Online: Go home and research and compare prices online. Check the manufacturer's website and search for inventory at different dealerships.
- Let Dealers Come to You: Contact the dealerships with the car you want and ask for their "Out the Door" price over the phone. Let them know you have already test-driven the car and are now actively looking to buy.
- Shop Around: Reach out to at least five different dealerships, preferably within a 3-hour drive from your location. Compare the prices and negotiate with each dealer.
- Negotiate the Best Deal: Use the prices you gathered to negotiate with the dealerships. Mention the offers you received from other dealers to leverage a better deal.
- Consider End of the Month: Towards the end of the month, dealerships may be more willing to negotiate to meet their sales targets. Keep this in mind and time your negotiations accordingly if possible.
- Talk to Multiple Salespeople: If you feel like you've hit a roadblock with one salesperson at a dealership, consider talking to another representative within the same dealership. Different salespeople might offer different deals.
- Stay Polite and Firm: Throughout the negotiation process, remain polite and firm in your stance. Be willing to walk away if the deal doesn't meet your expectations.
- Finalize the Deal: Once you've negotiated a price you're comfortable with, finalize the deal, and ensure you have all the agreed-upon terms in writing before signing any documents.
And now, your last attack to sweetening the deal: Ask for dealer-installed options toward the end of the negotiation can be an excellent way to add value to your purchase. Here's the additional step to consider:
- Ask for Dealer-Installed Options: Towards the final stages of the negotiation, don't be afraid to ask for a few more dealer-installed options when you've reached an agreement on the price. These could include:
- Window Tinting: Request the dealership to install window tinting on the car, which can help protect your privacy and reduce heat inside the vehicle.
- Pin Striping: Consider asking for pinstriping, which adds a decorative line along the car's sides and can enhance its appearance.
- Full Tank of Gas: Ask for a full tank of gas to be included in the deal. This way, you can start driving your new car without needing to refuel.
- Wheel Locks: Request the dealership to install wheel locks to protect your new car's wheels from theft.
These dealer-installed options might not have a significant cost for the dealership, but they can add value to your purchase and save you money on these extras. Dealerships often have some flexibility with such additions, especially if you've been negotiating well and are close to finalizing the deal.
Remember, being polite and respectful throughout the negotiation process is essential. By staying firm yet courteous and knowing what you want, you increase your chances of getting the best possible deal on your new car. Good luck, and happy car shopping!