Negotiating the price of your next used car is a must. No one, including the salesperson, expects you to pay the sticker price. If you don’t negotiate, you’ll end up paying far more for the vehicle than you should.
That’s why it pays to know precisely how the game is played so you can save as much money as possible. When it comes to negotiating, even minor details can make a big difference in your overall cost.
The following are the best-used car negotiation tips that every consumer should know when trying to negotiate the lowest price on used cars in montclair.
1. The dealer’s first offer will probably be too high
The dealership knows that it’s unlikely that you’re going to pay the price on the sticker, so it sets its expectations accordingly. That means if the sticker says $11,995 for a particular car, they’re expecting you to negotiate down several thousand dollars before you agree on a price.
It’s up to you to demand a more reasonable price. Going into the negotiation, you should know what you’re willing to pay and stick to that number. This will immediately pressure the dealer to move on price or risk losing the sale entirely. If they don’t budge, find another dealership willing to work with you.
2. The best time to negotiate is at the end of the month
If you go to the dealership during the last week of the month, they’re likely trying to make their monthly sales goals early so they can avoid having inventory on their lot for too long. If this happens, you’ll have more leverage since they want to make a sale and avoid having their monthly sales figures drop.
3. Focus on the total price instead of monthly payments
You should never rely on the dealership to provide precise financing terms. They’re going to do whatever it takes to get you into a vehicle that day, so take that responsibility yourself by using an online loan calculator or finding a credit union that can provide you with the best rate.
The best way to deal with financing is to negotiate the lowest possible price and then request that the dealer match the terms of your loan. This will allow you to take control of your own finances and know exactly how much you’re paying each month without relying on the dealership for accuracy.
4. Bring cash to the negotiation
This is a simple one. Once you know how much you want to pay for a car, bring an amount close to that number with you. If you don’t have the cash on hand, it’s going to be challenging to convince the dealer that you’re serious about making a purchase today.
Paying in cash may also reduce the final price of the vehicle, as the dealer won’t have to pay any fees from a third party to process your payment.
Never walk out of a dealership paying full price for any vehicle
It’s important not to leave a dealership paying the sticker price for any new or used car, no matter how good of a deal you think you’re getting. The dealer will expect this from most customers and be willing to negotiate since they know they’ll make up the difference in financing or trade-ins.
By following these negotiation tips, anyone can dramatically reduce their vehicle purchase cost. By learning how the game is played, you’ll never feel like you’re being taken advantage of when buying a car.
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