The first key to negotiation success is to research the market value of a make and model before going to the dealership to determine the ideal purchase price, according to Edmunds. Going with an attitude of buying at that price and not engaging in a negotiation is also effective.Continue Reading
Another strategy is to offer the lowest reasonable starting price that attracts the attention of the sales manager without putting him off, according to CNN money. An additional step to take control of the negotiation is to demonstrate seriousness about buying a specific vehicle within a given time frame. This approach makes the dealer aware that the car is the focus, and the buyer has options. The salesman may then feel pressure to get a deal done when the buyer is front and center.
Following up on Saturday or Sunday nights before close, bad-weather days, and the last day of the month is also a helpful tactic, reports Forbes. This approach works well when combined with the single-price strategy or the low-upfront-offer strategy. If the salesperson lets the buyer walk away initially, a follow-up at these times likely catches the seller when he is trying to reach quotas or when customer traffic is low. Using data to substantiate price points is also helpful.Learn more about Buying & Selling