How to Negotiate New Car Selling Price

Video Transcript

"Hi, this is John Michaels with Expert Village. Today we're going to be talking about buying a new car. In this segment we're talk about negotiating on a new car. Its easy to buy a new car, 'cause they'll either tell you yes you can buy it for that, or no you can't. The manufacturers is the one that determines what the car costs. The dealership buys the car from the manufacturer and there are many websites out there that tell you what the actual cost of the car is. Once you determine how much that car costs, its up to the dealership whether to sell you the car for that, for less than that, or for more than that. Depending on the desirability of that new car, which means how hot it is in the market, that's exactly what's going to determine whether you get a great deal on your new car purchase or not necessarily a great deal. Always remember that the difference between a new car and a used car is that a new car has an MSO, which is the Manufacture Certificate of Origin. The minute that you purchase that new car though, it becomes titled and then it becomes a used car. So just because a brand new car has never been titled, doesn't necessarily mean that you can't end up with a brand new car that has been titled and save yourself a bunch of money. So find out whether you are really a new car buyer or maybe you're a used car buyer with the same model year with a few miles on it so that you can save yourself some money. You can save upwards of 5 to 10 and even sometimes 20 thousand dollars on buying a new used car versus buying a brand new car without an MOS. So find out whether or not you're really a new car buyer. When it comes to buying a new car, remember, its ok to say no. Just 'cause they ask you to pay a certain amount of money for a car, doesn't mean that you have to. Sometimes the best tactic to buying a new car is getting up and leaving. If they say they can't sell you the car and they really can't, then they won't, but there's no reason why you can't come back tomorrow and try again, but if they come chasing you out the door and they say ok ok we want to sell you the car, then you can feel like you got a good deal. When buying a new car, don't be afraid to ask your dealership to allow them to allow you to look at the invoice. That's what they paid for the car and nine times out of ten, the dealership will be willing to share that information with you in order for you to make an educated decision. If you know how much they paid for a car, then you're willing to offer them a little bit more than what they paid for the car, usually they'll be willing to sell it to. Also remember that when buying a new car, depending on how many days its been in their inventory, they may be motivated to sell that particular car than not. So don't be afraid to ask if you can purchase the car that is many days in stock so that they'll be willing to give you a better car deal. Remember, just because buying a car at invoice is what the dealership does, doesn't mean you have to. You can always buy the car for below invoice, especially if that dealership's had that car in stock for more than 300 days. Remember, don't be afraid to ask. Negotiating is why you're there."