How to Negotiate a Car Price
- 1). Know the estimated price and all related costs. Prepare for your negotiation before you reach the dealership by researching the model and price of the vehicle you intend to purchase. Specialized consumer sites such as Edmunds or Kelley Blue Book provide information that can provide a relatively accurate estimate of what a vehicle is worth based on the year, model and condition among other factors. However, these are asking prices, not what cars have sold for.
- 2). Contact your loan company for a preapproved auto loan. Unless you plan to pay in cash, it helps to know exactly how much you can afford to finance in addition to how much you give for a down payment. Once the salesman is aware that you have solid financing, he is more likely to take you seriously and work with your numbers.
- 3). Open negotiations with your car salesman by informing him that you're ready and willing to purchase the vehicle but only if an agreement on the proper price can be made. Display a calm and collected demeanor as you say this and maintain it throughout your negotiations in order to support this. Maintaining a level attitude shows you aren't desperate to purchase and that you're more than willing to walk away if you cannot make a favorable deal.
- 4). Delay time between the test drive and the negotiation process. In order to persuade you to accept the current ticket price, dealership salesmen will make attempts to have you test drive the vehicle and build an attachment to it. Refusing a test drive until you've reached a strong point in your negotiation will allow you to stay strong in case you need to walk away from the offer.
- 5). Insist on seeing the car's history report. Do not buy a car without researching its particular history. The salesman should be able to provide a CarFax report that details major repairs and events related to the vehicle, including a history of accidents and issues with the title. Use any negative or questionable information to your advantage to negotiate an even better price.
- 6). Insist on a written contract for the purchase amount of the vehicle before monthly payments are determined. Discussing monthly payments is a slick way for the car salesman to take a car well above it's value and your desired overall price point.
