Negotiating

By: Ronald Fraser
January 26, 2015

Negotiating

You’ve heard the phrase “asking price.” The seller is asking for a certain price. It doesn’t mean he or she —including dealers— won’t take less, it just means that’s what they’d like to get. So, first of all, get in the mindset that it’s okay to negotiate. People expect you to, so go ahead and try it. You have nothing to lose, and plenty to gain.

Following are are some simple steps to take for a good negotiation.

Get Comparables

Do a little research on what other folks are asking for pretty much the same car. That shouldn’t take you long, as you can use the carsquare garage to store your similar makes and models and their sale prices.

Negotiate Price Alone

This isn’t about how much you’re willing to pay a month or what you’re accustomed to paying or what your budget can handle. It’s about the price of the car, and that specific car, period.

Start second, if you can

Let the person you’re negotiating with throw out the first number if at all possible. And never, ever be afraid that your first offer or counter offer is too low.

Leave yourself plenty of time

Be prepared to sit and wait. Time is your ally. Remember that if you do come to terms and make a purchase, there’ll be plenty more paperwork and waiting, so set aside a good chunk of time—both practically and mentally. This is what you’re doing today, period. And if you get impatient, think of it as paying yourself by the hour with the money you’re saving.

That’s it. Be brave, be prepared and remember, you likely won’t have to do it again for quite a while.