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Car Price Negotiations
By Dennis James
When negotiating the price of a car, it is important to start from a position of power. That means knowing the tricks of the trade and being prepared to use them.
The first trick to know when preparing for price negotiations is to know the starting price of the car. Initially, this means doing some research in the manufacturer’s suggested retail price of the car.
It is also important for price negotiations to know what the is selling for in your region. For example, several years ago, when the Toyota Prius was new to the American market, the suggested retail price of the had nothing to do with its actual selling price.
Because the was in high demand and low supply, dealers were able to negotiate prices much higher than the standard asking price. The smart price negotiator will be aware of these trends and either accepts that added cost of the or opt for a in lower demand.
The second trick to know is that you should also have the invoice price of the in hand when begging your price negotiations. A smart negotiator will know that the invoice price is not what the dealer paid for it; invoices reflect the price the dealer would have paid if not for incentives, rebates and factory deals for the dealership.
This is important to know in price negotiations because some novice negotiators will fall for the ruse that they are getting a good deal since it is close to the invoice price. Remember, the invoice price is not what he paid for it and getting him to sell you the “below invoice” does not mean you are driving the dealership into bankruptcy.
The third trick smart price negotiators need to know is that they should begin negotiations based on the theory that they will pay cash for the and that there will be no trade-in. In an era of revolving credit, most price negotiators do not understand that
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