Negotiating The Price Of A Vehicle
If you have ever been to a car dealership, you were likely bombarded with show floor salespeople trying to get you into any vehicle. Although the sales team at a dealership attempt to make you feel as comfortable as possible, car buying can be intimidating. Especially intimidating for most people is negotiating the sales price. This blog will offer some tips for people looking to negotiate the price of their next vehicle.
Search And Then Research
Whether you want to buy a new or used vehicle today or in the future, being able to negotiate price is important. The price of a vehicle determines your payments when financing, so knowing the market price for a vehicle is key to negotiation. This is where researching prices come in. Before going to a dealership, you should research the current prices for that model. A great place to find that info is Kelly Blue Book, which shows the prices for both new and used vehicles. This information will help you negotiate the price because you will know beforehand what you should be paying for that vehicle.
Pre-Approval
As mentioned in the last paragraph the price of your vehicle will affect the payments you make through financing. Dealerships want you to finance through them because it makes their job easier. However, pre-approval for a loan by a credit union, national or community bank offers you the chance to possibly get an even better rate from the dealership. And even if it does not, the pre-approved loan likely comes with a better rate, so you can walk away satisfied
On To The Next One
The last part, and possibly most important part, is knowing you have options and “flexing” it. You likely heard the phrase, “prepare yourself to walk away” when it comes to negotiating price. If the salesperson won’t budge on price, it may be to walk out. The act of walking off the sales floor may enact a last-ditch effort by the salesperson to make the sale, but even if it doesn’t don’t worry. There are plenty of auto dealers out there, many of which would be more than happy to sell you a car at a price you can afford. So you may not get the price you want right away but shopping around helps you get the best chance at it.
