Negotiation is a very sensitive process, particularly when buying a car; the type of words used will define the outcome of the negotiations. When used, certain expressions signal to the salesperson that you are ready to spend more than you should or know more.
Key Phrases to Avoid When Negotiating for a Car
It is equally important to understand some areas that should be avoided when negotiating for cars to retain the upper hand and get the deal that one wants. Here are some phrases to avoid when negotiating for a car:
I Love This Car!
If you say, “I love this car,” it might be harmless, but this puts the salesperson in a favorable position. One can likely be swindled into parting with much cash just to own the car. This can put the salesperson in a position of negotiation where he or she will maintain his or her stand on price because he or she knows you are emotionally attached to that item.
My Lease Is Up Next Week
Talking about a time constraint, such as the expiration of the lease period, will be disadvantageous for you. The salesperson may sense that you are pressing and may not give you the best price because he assumes you have to do business with him or her right now.
I Want $X for My Trade-In, and I Won’t Take Less.
Specifying a fixed price for your trade-in at the onset leaves you with little bargaining room to maneuver. The salesperson might give you a quotation close to your intended offer, but they can still adjust the price of a new car to deny you a good deal overall.
Allow the dealer to give you the first estimate of the value of your trade-in. This will at least give you something to work from and start making bargains from, and it is better to have choices.
I’ve Been Looking All Over for This Color
Claiming an extreme liking of a shade can be counterproductive. After establishing that you are willing to spend more to attain your preferred shade, the salesperson may exercise raw bargaining power on price.
I Don’t Know Much About Cars
Sometimes, it is wise not to show too much ignorance about cars; some tricksters in the dealing line will take advantage of the situation and even lock you into extra accessories or hike the price of the vehicle exceedingly.
Try being as informed as possible before walking into a dealership. A few things one should know about the car include the car to be bought, its model, make, and fair market price. The fact that we think we are informed can make a difference in the effectiveness of our bargaining power.
I Already Have a Car Loan Lined Up
It may, therefore, appear logical to tell the dealer that you have secured finance from outside, but it is not advisable. Salespeople like to earn bonuses on financing; therefore, if they are informed that they cannot pocket anything from the loan, they may be less likely to look for cheap deals for you.
Do not start a financing discussion until after the car’s price has been agreed upon. This is important because it helps the salesperson focus on finding a more favorable price.
I’ve Never Bought a New Car Before
It must be embarrassing to announce that you are a first-time buyer, as the salesperson will treat you as a newcomer to the market who knows little about the business.
For a first-time buyer, having someone who has been through the process may be helpful. This can also help you avoid wrong choices and be even better at bargaining.
This Is the Maximum I Can Pay Each Month
As with the prior statement regarding monthly payments, disclosing one’s best offer lets the dealer adjust the agreement to that particular amount—frequently to the detriment of a better price tag.
Be concerned about the total amount you will be charged for the car, the interest rate on the loan, and the period of the loan. Such an approach allows for the selection of the best deal in general, not simply the one whose monthly payment is within reasonable limits.
Conclusion
In conclusion, keeping key information to yourself can lead to a better car-buying experience. Being informed, staying flexible, and negotiating wisely are essential. For those looking to negotiate better, window stickers can be a valuable tool to check the car’s MSRP. For example, if you’re buying a Chevrolet, you can check the car’s original sticker at Chevrolet Window Sticker.
