5 Expert Negotiation Tips To Get The Best Deal When Buying A Car
Time to buy a car? Then we suggest you follow these effective and simple tricks to take your negotiating skills to the next level (we’re talking expert level).
When it comes to buying a second-hand car, you want to make sure you get the best bang for your buck. Basically, you want to ensure you get a good deal.
But knowing how to negotiate isn’t easy. Where do you start? How do you make sure the salesman isn’t trying to get you to pay more for the car than it’s worth?
Here are our top tips:
1. Set your emotions aside
No matter how badly you want the car, you need to set your emotions aside. Salesman can tell if you have a strong desire for the car and they might use this to their advantage.
2. Make sure you have a backup plan and other options
Whilst you may have already done your research and this particular dealership has the exact car you are after, you need to make sure that this exact car and dealership are not your only option.
Have some similar cars and sellers as a backup plan should the seller not be willing to give you a price you are comfortable with.
3. Have a budget and stick to it
Any salesman might try to push you above your budget. If you say you can afford a certain amount, then they will probably try and make it a little higher and sell you on the specs of the car in saying that ‘it’s well worth the extra money’.
And while we are sure a more expensive car is in some cases, a better one in terms of finishes and extras, it doesn’t mean it’s better for your budget.
In fact, it’s a good idea to suggest a figure a little under your budget, this leaves a little wiggle room for negotiations.
Make sure you know exactly what you can afford and don’t go above this number.
It might seem like it’s not a lot of money to go just R10 000 above your budget right now, but in the long run, this can make a big difference to your monthly repayments if you are financing the car.
4. Do your research
When buying a car, make sure you do your research. In a situation like this, knowledge is power.
Find out what other dealerships and private sellers are selling the same car for with similar mileage.
Find out how much extras cost in the car if they are added on, find out the trade-in value of your car and get a few quotes on it (if you are in fact trading in your current car).
Finally, check the price of spare parts and tyres. Make sure you really know what you are getting into before signing on the dotted line.
5. Time it right
Did you know that experts believe the best time to approach a dealership is during the last week of the month?
This is when their sales targets need to be met.
The best time to visit the dealership is during the week, for example, a Tuesday or Wednesday afternoon works well. This is when business is quiet.
Make sure you are covered the moment you drive your car off the floor
If you are financing your car, you will have to get car insurance before you can take delivery of the car (this is typically the deal with most dealerships).
This means that you need to make sure you are covered for unexpected incidents and accidents that can and will happen. From minor dents to bigger crashes, ensure you have some kind of a backup plan in the form of car insurance.
Comprehensive car insurance
After doing all the research, negotiating and finally buying your car, how would you feel if you are involved in a crash and your new set of wheels is damaged or worse, written off?
It’s for situations like these that vehicle insurance was created.
If you have insurance with Oneplan, then we let you choose how much cover you want based on a price you can afford. This means that you can tailor your insurance according to your budget.
Bonus tip: have a look at our fool-proof guide to estimating the trade-in value of your car to find out what you need to know about the price you can trade your car in for.
Good luck with negotiating for your car, we hope you get the best deal!
Yours in uncomplicated car insurance,