Purchasing a car is overwhelming for a lot of people. They want to find something safe and reliable they actually like that comes in at a price point they can reasonably afford. In regards to the latter, it can be difficult to negotiate a fair price with pushy car salesmen.
As one of those “pushy” salesmen (he’s really not!), my husband has confided in me (and all of you!) the secrets to negotiating a car deal the right way.
1) ALWAYS check online first. Here’s a dealer secret -- the price listed online is almost always cheaper than the advertised price at the lot. While the salesman won’t tell you about the Internet price, if you go in with this information, they have to honor it.
If you find a car you like at the dealership, whip out your phone and see if the Internet price is a better deal and then ask for it!
2) Ask for bonuses. Whether you are sticking with your current car make or switching to another make, you can get a bonus.
The “loyalty bonus” is for those customers sticking with their current car make. If you love your Hyundai and want a new one, just ask for a bonus for your loyalty to the company.
The “competitor bonus” is for those customers making the switch to another car make. If you don’t love your Hyundai and decide to switch to Volkswagen, ask for a bonus to make the leap.
3) Whip out that Costco card. Costco allows you buy copious amounts of everything at rock bottom prices, everyone knows that. But many people don’t know Costco partners up with many large dealerships to offer below invoice prices on vehicles! Check to see which dealerships in your area are Costco partners and enjoy the savings!
4) Be reasonable. If you want your car salesman to help you get a good price, you have to be reasonable.
When you give them the amount you are willing to pay, have something to back it up. Did you see a similar car for this price elsewhere? Is Kelley Blue Book showing this price for your area on this particular model with similar mileage?
Asking to pay thousands less than sticker price is unreasonable and likely not based on anything except your desire to pay a small amount of money for a quality car. If you do this, the salesman has written you off as a serious customer and will nicely escort you out.
When you go to purchase your next car, be informed and have realistic numbers in mind. The salesman wants to sell to you and will work with you if you are reasonable and negotiate in a courteous manner. Good luck!