> Negotiating a Low Offer
Negotiating a Low Offer
Lets say that I want to buy a used car. Like most people I don't want to pay more than I have to. What is a good strategy for negotiating a lower price? - by WobblyBox
I would recommend that your offer be "reasonable" as supported with relevant facts. This doesn't mean you can't ask for the moon it only means if you're going to ask for the moon show why it is a reasonable offer.
For instance, when negotiating the price of an automobile you can back up your offer with blue book values, advertised specials, or anything else that demonstrates that you've done your homework and know what your dealing with. - by SalesGuy
Do your homework, know the "Highest" price you are willing to pay and be prepared to "walk" if you can't get it. - by Jackie
I forgot about this thread. Must have had a senior moment. :o
Anyway... great responses. Thanks! - by WobblyBox
Here is what I do as a salesman.. I don't have a problem with people wanting to save money. I want to too. IT's humman nature.
It's a salesmans job to show why it's in your best interest to drive this car off the lot paying what we ask you to pay for it.
NOwhere is the thing, and this is what gets me with auto sales. If it were as easy as selling cars usually kelly blue book, I would make a grand a car.. seriously.
Noooo.. instead of using kelly blue book both ways, they only want to use it to justify asking for 12 grand for a trade in that's worth 8500 dollars in real money.
and that wouldn't even be the worst problem again if they would let me sell the car for what kelly blue book says it's worth.. no, they want to buy the car at wholesale price as well!
Unrealistic customers. I will never car for more than it's worth.. and i mean that literarly. If I am selling a honda accord and the book on it is 18,999, I will sell it for 20,999 with no qualms becuase hondas are usually worth 2 grand over book. The book is a guideline, not law.
On the ohter hand, if i am selling a Ford F-150 and the book is 18,999 I have no problem usually selling it for 18,000 or 17,500 becuase that's more along the lines of what it's worth
Mazda RX-8s I usually charge people 4 grand over book ,and they buy them becuase you can't find a used one and if you do, they are all over priced.
My best litmpus test is, what would I pay for a car, or better, could I see myself paying that for a car.
a word of advice as well, don't be so stuck on the selling price of a car. there are alot more ways than one to skin a cat. Most car dealerships, at least for new cars, make more money on back end products than sales gross. I know we do. You will be so worried about the best price on the car, you shop around, saving a meisly 300 bucks and they loose m oney selling you a new car, but they are glad to, becuase you buy Gap insurnace for 1100 bucks (it's only 500), you buy a 100k mile warranty for 2495(it's usually only 1200 bucks) and they made 2 points on the rate, which is about 400 more bucks... so they lost 300 on the front end, and made 2500 on the back... and you got a great deal.
While I don't recommend getting your own financing, becuase most banks allow no extra LTV, which is horrible if you have a trade with negative equaty, know what rate you can get on average for the amount of months financed... know what the going rate is for insurance if you plan to get it (for the love of god, get gap insurance,).. this is just as, if not more important than the price of the car.. I know for instasnce a mazda 3 has 1100 bucks in markup.. not alot by any means, but - by asisiempre
My husband and I recently bought the 2007 Camry. We did a lot of looking and researching before buying. We spent about six weeks comparing prices, features and dealerships all over Missouri (which is where we live).
You can search online for the model you want and find the lowest price available anywhere. Take all your research with you when you decide where you want to buy your vehicle. - by ozzie
I agree with many of your comments asisiempre. From your post I'd say you've got things dialed in pretty good. ;) - by WobblyBox
I think planning to not buy in the first meeting can trigger a better deal as you're walking away.
But obviously you have to be serious about being in the market.
I've experienced this in the home electronics market. - by Ricardo
Lets say that I want to buy a used car. Like most people I don't want to pay more than I have to. What is a good strategy for negotiating a lower price?
I've found that the best way for *me* to get the best prices on big ticket items (at least those where the salespeople have the authority to lower prices) is to just be honest. If it's more than I am willing to pay, I'll just say that and not play games. More often than not, it's all I need. I also comparison shop a LOT. - by destiny
Just like you wouldn't just ask for a raise at your job without reason why it should happen....you should not go into buying a used car without understanding the parts about it that give it it's "value".
Now I would say that it would be best if you could gain an accurate list of ALL the features that the car dealership would presume as value, and calculate (if it were done fairly)...just HOW MUCH of what the car has as features...is ACTUALLY worth the "value" that they placed on it as the price tag would entail.
I can tell you from experience that in the car industry (which I used to be in), ALL OF THE MONEY IS MADE IN THE ACCESSORIES!!:yi Power windows...for instance are approximately $200 if not more on top of the price of the car if it were to be without them....when in reality, you are only looking at a $15 motor.
It is things like this that will empower you to be the one with the control....because the only thing a salesperson can "get-over" on you are the things that you allow for them to get.
-David:thu - by truesaxman
Being in the car business...and I admit...I'm a green pea, I feel the need to respond.
Used cars typically have about a 3-5 thousand markup on them because, as the adage goes, "Buyers are liars". So, if you're wanting a good price on a vehicle, and you're wanting to be WELL taken care of... it's very simple.
First figure out what you're looking for (Car, Truck, SUV, Crossover, tricycle, Red Flyer Wagon...whatever), then, when you have a general idea - PLEASE don't get locked down on "I want a 1997 Camaro, baby blue, with dual exhausts with chrome tips, less than 15,000 miles, and I won't pay more than 4000 for it", because you're gonna be in for some heartache (yes this was an actual response to the "How can I help you today?" question).
Once you know what you want, go to the dealership, test drive a few vehicles, then when you decide which one you want, offer 2000 below sticker price. You're going to save on average 20 bucks a month, and your salesperson is going to be happy because they made some profit, which helps them on their way to getting the bonus. It will also eliminate an hour or two of haggling, having to deal with the manager, the running back and forth of the salesperson who's really just a messenger at this point...in short you get what you want, you get it faster, and you get out faster. The salesperson makes a sale, and can get back on the lot to try to catch another person so they can make another sale. Everyone wins.
Go ahead and do your research, it's not a bad thing to do. Just don't go up on a lot and say, "Well, there's a lot in Texas that I can get this exact same vehicle for a thousand dollars less" when you're in Central Arkansas (yes, this happened too) because you have a 50% chance of being told to go ahead and go to Texas - yes, that happened too (my manager told 'em to).
Salespeople in general like to help - that's why I'm in it, because of former customers at another job told me I should give it a shot since I like helping people. Help them help you, and it'll go smoothly. - by Bardicer
Have a look at my post on the Win- Win situations. As long as the dealer is getting something and you are too then you create the Win win scenario and both parties will be happy.
All the bestthmbp2; - by Snowboy
How to know you are in Negotiation
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