How to bargain for a good price
The tips in this article is actually not only apply to the case of purchasing
an automobile, it will apply to anything. It will even help you
selling.
Bargain is not just talk. It's talk in the right way. Bargain is
not just to give a lower price, but to make the other party accept
your offer.
Here are some tips for bargain:
1. Research the market price. Before you go to purchase a vehicle,
read automobile advertisements in local newspages. Check the type
of cars you like to buy and find out the lowest price they are asking
and the highest price. You will get a clear idea how much you need
to pay for the vehicle you like to purchase. One of the problems
is, every used car may has slightly different configuration. Some
has more milage, some has low milage. One car may have a sun roof
while another one may not. Estimate how much these features might
add to the value of the car so when you talk about the price, don't
let the dealer fool you by saying this car has something like a
spoiler which cost more. A rule of thumb is to check what a lowest
asking price you can find. For example, if a five year old Toyota
Camry with no big problem asking for $6,500 while all others is
asking for $7,500 or more, then $6,500 is a good price for the Camries
asking for $7,500. When you go to buy a similar 5 year old Camry,
you will need to offer a price around $6,500.
2. Ask the seller to lower the price. When starting talk about
the price, ask the seller to lower the original price first. First
ask how much they are asking. The seller usually will just tell
you the sticker price, which is usually marked on the car windshild
or on a paper which everybody can see. Then ask how much they can
lower that price. Some seasoned dealer will refuse to lower the
price before you give an initial offer. Even if you are facing such
a dealer, don't give your offer too quick. You can still say something
to ask they reduce the price. You can say something like this: "I
think the price I want to offer is too far from the price you are
asking. So I don't want to make an offer. Can you tell me the lowest
price you will take?" It will work in most cases. The dealer
will reduce the initial price by a few hundres. Then you can give
your first offer.
3. Always start your first offer low. Some people are hesitate
to give a low price offer, fearing it might drive the seller mad
or something. As a customer, you really don't need to worry about
this. You are somebody buying. they can accept your price if they
like. They has the freedom not to accept your offer. An expeienced
dealer will not angry. Madness of the dealer is an indication of
his lower level of expience. How low the price you can give? As
long as it's greater than 0, there is no limit. A general rule is
to give a price $500 lower than the lowest price in step 1. Remember
this is just the first offer you give, in most cases, the dealler
will say your offer is too low. 99% of the time, they will laugh.
Or they say it's impossible.
4. Try the seller's bottom line. As a seller, he will never tell
you his bottom line, I mean his real bottom line. To know his bottom
line, you really have to try. After you give your first offer, the
seller will ask you to raise it. But don't do that. Before you do
that, you have to ask him to reduce his asking price.Say something
like that:"I can raise my offer a little. But I'll definitely
can not give the price you are asking. How much you can get the
price lower? Some smart dealer will just reduce the price by $100.
Don't be intimitated. If they reduce the price by $100, you raise
your offer by $10. Tell them this: If you just reduce it by $100,
we will not reach any agreement today. If you reduce more, I'll
add more. Then the dealer will reduce the price by another few hundres.
He will again ask you, how much you can raise your offer. Raise
your offer by $100. You can raise more, but don't raise as much
as the amount they reduced. For example, if the dealer reduce the
price by $500, you can raise by $100, $200 or a little more. But
don't go for $500 more.
After 3 or more times back and force. You will close to an agreement.
At this time, the seller asking a price close to his bottom line.
5. Negotiate the flaws. Most used cars will have some problems,
some small problems like pull to right or left, brake is not great,
scraches, bump problems. They are small problems but it will help
you save hundres. Ask the dealer can he fix the problem for free.
If not, tell them if you need to fix it, it will cost about ...
bucks. You have to deduct it from the price of the car. The dealer
will reduce the price by a couple of hundres.
6. Make a final negotiating. If you buy from a dealership, they
will usually charge a few hundres for doing the paper work. Ask
them how much it costs. Let's say it cost $220. Then ask the dealer
reduce $220 from the price they are asking. Tell them this:"If
I buy a car from an individual, I don't need to pay for this amount.
It's fine if you guys charge me the paper work fee, but I have to
reduce it from the price of the car." Most dealers will say
it's a policy or state law to have the dealer to do the paperwork.
Asking they change the policy for one customer, you sounds too much
to do. And you can not change the state law! What you can change?
The price. Changing the price of the car is so simple that it will
not break any policy, break no laws.
7. Make the final offer. After the above steps, you and the seller
most likely reached an agreement. If yes, then that's it! If no,
make your final offer. Tell them this is your final offer and no
more negotiating. For 99% of time, it will help the seller accept
your price. Or they will give you their "final offer".
8. Deal or leave. If you reached agreement with the seller after
hard bargains, then congratuations! If you can not reach an agreement,
just leave. That's it. Go for the next car. Onething to not make
it worse, say something like that when you leave:"This is the
amount I like to pay. Please think about it. If you change your
mind in the next a few days, please call me."
See what is a good deal of a used car?
What is a good deal for a new car?
How to check a used car?
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