Tips on how to negotiate
If you ever bought a new or used car from a dealer, did it go something like this...
The Salesman writes the stock # on a worksheet takes your credit card for a deposit and presto you own a car, its a salesman's dream and it happens every day
OK...your much smarter... you know buying a car nobody pays full price and you want to negotiate
Your offer is less than the asking price and the salesman takes your offer along with a deposit to the mananger...he soon returns with a counter offer for you to sign but without your deposit...now whom is in control???
If you are negotiating while dealer have your deposit or credit card...you are a pigeon with no wings to fly away
Experienced salespeople are highly trained to close the deal on your first visit, no matter how good the deal YOU MUST WALK AWAY...Most buyers dont as a deposit may be in hand by the dealer or buyer will be on the phone getting third party advice or walking the lot pondering
the dealer is watching your emotions and knows they still have the upper hand as your still at dealership, your offer may already be a deal, but why should dealer accept your offer when your showing emotions by not leaving...
From experience i cant count the number of times the first offer by consumer was a deal and the offer went back several times to buyer for more profit...
THE CLOSER If the salesman cant close the deal you may suddenly be introduced to a third party known as the closer,
this stragey works well, a fresh face to wear you down,
The closer may be the manager or someone hired with real people skills with a fresh approch
SUMMARY...
# 2...How buyer should have tested me
# 1...
Its a fact 10% of the salespeople make as much as the other 90% combined, looking back I am not proud of my accomplishments but I had to sell cars with no compassion to provide for a lifestyle and became part of the 10% top earners for years.Testing the buyer for high gross profit is an art that many sales people today still cant master being afraid they may loose the customer "example" having a gross profit around $2000. most sales people would except the deal where as I would return deposit if there was one in hand and say sorry need another $$$, i would watch the buyer get in his car and when he started to move I knew I had taken him to the limited and it was time to bring him back in as there were no more money on the table, that extra $500. I was trying for would be somewhere around an extra $150. in commission and thats worth the test.
# 2...
A buyer should not negotiate a price without having a firm figure in mind and that means a little homework has been done, when I went to dealer Auctions every car that I bid on there was an amount in mind and if bidding went even one dollar over that amount I was out of the running, the same should apply from a buyer, get up and leave, I mean leave, dont stand around, If dealer lets you leave then you know your offer was to low, you can go home and phone or make a u-turn and offer $$$ more, if you dont like to negotiate this way then pay the dealer what they want, its your hard earned buck on the line, not mine...I tested the buyers to see if they would leave the dealership - you test the dealership to see if they will let you leave...The golden rule selling cars is you sell the buyer now not tomorrow and a deal is made providing the minium profit is at hand.
Its very important when negotiating that all verbal promises are included on worksheet such as a small dent to be fixed, scratches - torn seat - knob missing - replacements ect ect...
It happens thousand of times everyday a buyer notices something to be fixed or replaced while viewing or test driving a car and salesman says it will be fixed or we will look into it and then salesman and buyer forget to include mentioned details written with offer
Its to late when you come to pick up your car and then say to salesman...YOU SAID that would be fixed...in most cases its an honest mistake by salesman, but at the same time the dealer did not allow this expence into the negotiation process when salesperson presented the offer and dont feel obligated...
subject to cost factor the dealer will on many occasions bend to retain customer satisfaction or the salesman will foot the expence...
many buyers take delivery driving away angry but will have learned a step in the buying process the hard way
When you purchase a NEW car you get spare keys and a Manual, with a USED car it's hit and miss
Upon delivery Salesman hands you one KEY and says thanks for the business, lots of buyers at this point says i am supposed to get 2 keys or where is the manual...
Your buying a used car...CHECK that vehicle has got your expections...
Again this is something that must be written with offer...
