Negotiating

Key Strategies

Negotiating
Don’t feel overwhelmed by this word. If you’ve never tried negotiating as an adult before, go to a yard sale this weekend and get that macramé owl planter for $2, instead of the $7 listed on the little round sticker. It’s really not hard. You don’t have to be boisterous, mean or even know everything about cars. With a little know-how, and packed with the powerful ammunition you gathered from all your resources, it’s just a matter of smiling and laying it on the line.

Here’s how:

• DO have realistic expectations of what you can spend, and what the car you are interested in is worth.
• DO find the right salesperson. If you’re not getting the treatment that you expect, or you don’t think you’re getting the appropriate information, find the manager or someone else to help.
• DO inquire about extras.
• DO come prepared – bring quotes, loan approvals, rebate guarantees and your knowledge of terminology to the salesroom floor.
• DO stay positive and confident.
• DO research loan options before going to the dealer, to help alleviate fees.
• DO make an appointment with your salesperson if you’ve worked with them previously. Selling a car takes time, and time is money.
• DO read the fine print and beware of hidden dealer fees. Go over the purchase order with a fine-toothed comb. Make sure the tax, tag and title are included in the mix.
• DO come well-versed about warranty packages, insurance options and other add-ons before making any commitments. Sometimes it’s just plain better to outsource.

• DON’T take it personal. Salespeople are there to make money. You’re there to spend money. We can all come to a happy medium, right? Don’t get involved in any arguments. Keep that smile on your face, and use it to your benefit.
• DON’T give away secrets or get excited when a salesperson shows you an innovative feature, or brings the cost down. Play it cool – and ask another question.
• DON’T put down a deposit on your new car until the offer is approved in writing.
• DON’T feel that you have to take the car home that very day – go home and review everything you went over during your visit.
• DON’T forget that if the dealer does not have the exact car you want, you are available to buy it directly from the factory. This does not cost more, but may take anywhere from 8 weeks to 6 months.
• DON’T consider trading in your car unless the dealer guarantees (in writing) they will pay off the payment as requested by the bank.
• DON’T give your driver’s license up when you’re on the test drive. Instead, make a copy and provide it to the dealer. There’s also no reason for them to have your Social Security Number at this point. In some cases, dealers have been known to run unauthorized credit checks while you’re out and about. Stay protected.
• DON’T be swayed by threats or empty promises. Know the product and process to keep from getting burned.