How To Save Money on a Vehicle Using the Art of Negotiation

It is possible to get a good deal on a new vehicle despite the stereotypical stories about car sales personnel. If you have done your homework and go to the dealership knowing what you want and what you can afford, getting a good deal is not difficult provided you also know how to negotiate the deal.
 
Here are some tips for negotiating the price you want at the car lot and before you go:
 
Before You Go:

 
Research the vehicle make and model you want to buy. You’ll be able to access manufacturer and consumer reviews about all vehicles on the market through the Internet. You will be familiar with the pricing on each kind of vehicle that may make it easier to narrow down your choices.
 
Find financing before you go shopping. Lenders can provide you with a preapproval statement showing you have access to finance the vehicle. With preapproved financing you can also gain the upper hand during on-the-lot negotiations.
 
Find out the value of your current vehicle so you will know how much it is worth in a trade-in scenario and invest some time in cleaning out the interior and exterior of your car to make it presentable if you are sure you are ready to trade it in.
 
On the Lot:
 
Car sales personnel are typically infamous for their selling strategies. Read through some of the following tactics so you’ll know how to respond in your favor.
 

• When they ask if you are looking for a specific vehicle (say an SUV), simply respond that you are just looking and haven’t decided on anything yet, even if you did. 
• When they ask if you are trading in your vehicle, don’t tell them yes even if that is your plan. Be vague about your desire to get rid of your vehicle and stress that you really like what you have now. Let them now how much you’d be willing to pay for the vehicle without the trade in. If a deal is ultimately made, then throw in the trade to get an even lower amount. 
• When they ask about your ability to put down money on a new vehicle, be firm in noting you are not interested in discussing the matter at that time.
• When they ask how much you can afford monthly, let the dealer know you will not be discussing the topic because it is irrelevant to any potential purchase. If the dealer knows you are financially limited, you will not leave with the best possible deal.
• When they ask you to test drive a vehicle, tell them ‘sure’.
• When they follow up by asking if you think you’ll be making a deal, tell them you don’t really know.
• If the dealer is persistent and inflexible, don’t be afraid to walk away. Another car and another dealership are waiting for you somewhere else. Even if you have spent hours negotiating and researching, you have to remain in control and be able to walk away.