Buying a car is an important deal that involves considerable money investment. In this regard it's only natural to think of the ways to decrease your expenses, so, among other ways you might consider haggling on the car. Skilled hagglers can save themselves an average of 10% - 15% on this big purchase, so it's worth it to learn, don't you think?
Researches show that 8 of 10 of people try to negotiate the set price when buying a car. More than 6 in 10 people manage to get some money off the price – men fare slightly better than women, but it's probably just because they try harder and negotiate more often.
Discounts are available on many cars, so it pays to know how to haggle
To make the process less intimidating and prepare you to do it right, we have prepared for your attention the haggling tips that will help you get a great deal. So, with a few simple tips and a calm approach, you can make sure that you get a great car and come away happy with your deal.
1. Know What You Want
Before go to the dealership to buy a car do a thorough research of the market and decide what car do you like the best. Make a definite choice of the car make and model, preferably.
2. Set A Budget
Set yourself a strict budget for what you can afford to pay and look for a car that corresponds this criteria.
3. Know The Cost
Make sure you know the current average value of the car you intend to buy, so that you'll be sure you don't overpay for it. You can check it, comparing the prices of several dealerships or by using online car cost calculators to find out the true cost.
4. Timing Means A Lot
Experienced hagglers confess that the right timing can save you lots of money and efforts. The secret it simple: if you come to the dealership at the end of the month or last day of the quarter, they will be eager to sell more, to get some bonuses so you'll have a chance to get a better deal. It can also be a good strategy to look for stale cars that have been on the display for a long time, because probably the dealership considers them as failures and wants to get rid of them to make room for other cars.
5. Negotiate Wisely
- Try to get the salesman to name the first price: experienced hagglers know that the one who speaks first, loses, because once you name your price you can't go lower than that. If you'll wait for the dealer to speak up first, you'll know you are not starting too high.
When negotiating with the dealer, never let him know your maximum limit. Start off by stating an amount lower than you’re actually prepared to pay so you can then gradually increase it if necessary.
Try to avoid raising your price according to the amount the dealer is dropping his so you'll be even.
When you make an offer, be patient and don’t speak again until the salesperson replies.
It's also advisable to stay positive and sure in the successful outcome for yourself: show your confidence. Try to make statements instead of questions: for example, don't ask IF you can I have a discount, but ask HOW MUCH discount can you get.
If you still can't agree on the price, try to offer to buy the car there and then if they offer a discount. That can work.
6. Bring A Friend Along
The purpose is your moral support and... a bit of trickery. You can try to play a classic game of ''good and bad cops''. Your friend can play the role of the ''bad'' one, questioning the price and the quality of the car and if you really need it and making a fair deal. The dealer then will try his best to sway you on his side, making better offers.
7. Leave The Sales Cubicle
We advice you to never buy a car in the first showroom but look at several models at different showrooms instead. Doing so, you will send the dealer a signal that you're not going to be controlled and you'll get a better perspective as well.
8. Shop At Multiple Dealerships
Make it your policy to always shop more than one dealership. And make sure they know about each other to raise the stakes and make them compete for your favors. It will also help you compare the prices on the cars.
9. Plan B
If you really like the car, the deal is almost on the table, but you are still not 100% happy with the price, but can't lower it no matter what you do – there's another trick you can try: offer to buy the car but ask for some extras added. Like, say, new floor mats, windshield wipers replaced or anything else you can think of. But it better be something you really need.
10. Stay Calm
Try to leave all the emotions out of the dealership's door – stay cool and rational. Don't lose your calm. Never show your eagerness to buy the car right away not to give the salesman a reason to keep his ground in pricing the car high. You'll see that a professional approach will help you get a better deal.
So, follow our haggling tips and never pay more for a car than you absolutely have to. Learn the rules, know your aces, and play the game to win!
See our infographic on the benefits of haggling.