Negotiating with a professional auto dealer can be a stressful experience, and many consumers choose to purchase their vehicles through private transactions in part to avoid it. However, negotiating with persistent dealer can be far less stressful if a consumer follows a few simple guidelines.
The first offer made by the buyer should be relatively low, but still within an acceptable ballpark, according to Edmunds.com.
Buyers should plan to spend an hour or so negotiating with a professional dealer, and are advised to have a clear head, since being hungry or tired can potentially cloud judgment.
It may also be important not to be pressured by the auto dealer to buy additional warranties or features.
Perhaps most importantly, the upper bound of what a consumer is willing to pay should be predetermined before the negotiations start, and buyers are advised to use their most powerful negotiating tool – walking away – if the dealer insists on pushing them above their upper bound.
To determine a reasonable upper bound given their budget, customers can use a car loan payment calculator to see what kind of purchase price their budgets can accommodate.