Dear Blinders, The truth is I am very bad at car negotiation. Please give me hints how to negociate a used car price at the dealership. Thanks!
Nobody is good at negotiations. Everyone values their possessions differently and this is the reason why there are third party evaluators. I suggest you start with KBB, an approved used car loan/cash in hand and then look around for a used car.
These days everybody comparison shops online, and car dealers will put a low price online and not negotiate. If you walk onto a lot without printed out quote from the website you can haggle but will probably end up paying more. Same is true for new cars. Only from the internet department - no hassle, best price possible.
It is your money and you should act like it basically. They will try to push you into buying for a higher price, but the important part is knowing that you always have the upper hand in that negotiation. Pitting car dealerships against each other also has good success rate. Basically find a dealership, do some soft negotiating, get a price, go to another dealership, quote something below the other dealership's price and this dealership will give you a better price. Rinse and repeat. You will have to walk out of the dealership several times, but each time you go back into the dealership, they get slightly more desperate to sell it to you because they know you want to buy it. Use that to your advantage.
Try private party, ask to split the KBB value if the Carfax is clean. More than anything, have someone mechanically inclined be there w you.l to inspect the clunker.
Find two used cars as identical as possible at nearby dealerships and negotiate them down.
Get compete offers
Negotiate on the actual price of the car vs monthly payments. Come in pre approved with financing, the dealer will usually offer you a lower interest rate vs your pre approved rate because dealers make more money on financing. Offering all cash or to pay off your loan quick does not help you and can actually hurt you. Research forums to understand what fees in your state are legit vs the dealer adding bs mark ups. Not all add ons from the finance manager are scams. It depends what you’re buying but gap insurance or a warranty could make sense but its situation. The prices listed online can be bs, shady dealers include all possible rebates (including the niche ones no one qualifies for) in the online price to get you in the door then raise the price because you don’t qualify. Feel free to DM me, I have close friends that own car lots and spend a lot of time researching used cars.
write down your number on a scrap of paper & carry it with you while shopping. when the dealer gives you a number, pull out the scrap of paper, LOOK at it. and if the given number is not below your number, politely decline and walk away.
Hi i work in the car business, yes please bring someone mechanically inclined with you when you make the trip. If its a dealership submit a web lead on your car with EMAIL only. You will have much more leverage and no need for fast thinking replies. Honestly saying you have a much lower budget works really good, but dont make it too large off. Be like 2-3k off and see who bites on the bait
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Pretending that you have a strict budget has worked more than once for me. I’d always say that I would buy it right then if they agree on the price.