Things You'll Need:
- Invoice price on selected car
- Prepared trade-in (if applicable)
- Assertiveness
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Step 1
If you have a trade-in vehicle, know the Blue Book value of your car before visiting a dealership. You will want to make sure your car in the best condition possible before having a dealership give you a trade-in estimate. At a minimum, you will want to detail the vehicle inside and out. Consider the value of clean mats, spot cleaning the upholstery, and removing any bumper stickers. If you feel you are not getting an adequate trade-in price from a dealership, you may want to consider the option of selling to an individual.
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Step 2
Once you’ve decide on a car that you want to purchase, ask to see the invoice price. If the salesman balks at this, you can ask to speak to the sales manager. Another option is to use the Consumer Reports New Car Price Service. For a small charge you can get a report of the car’s invoice price, sticker price, and other information. Knowing the invoice price is important in that it gives you much more bargaining power on the final sale price.
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Step 3
When you begin the bargaining process, referring to the invoice price is your best approach. Be aware of the car’s selling position. If it is in overstock status, you will have much better bargaining power than if it is short supply and high demand.
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Step 4
Be prepared for the sales pitch on “extras.” Extended warranties are one such example. Most of the additional bells and whistles are over-priced and not worth their value for the long haul.
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Step 5
The buying process can feel a bit like poker, with the final winner being the one with the best poker face. Make sure you’re armed with information, know your limits and expect them to equally as prepared to bargain. You will get the best deal when you have gathered information that the dealer will have a hard time negotiating around.
