Negotiating a car deal can be a painful ordeal. The bargaining, the haggling, the second guessing, the back-and-forth, the confusing numbers. It all adds up to one big headache for most of us. And worse, people usually leave a car dealership feeling that the cards were stacked against them and that they did not get a good deal in the end. Many motorists feel they got outright screwed by the dealership. This is partly because car salespeople are well-trained on how to manipulate their customers, and also because most people who are shopping for a car are not prepared to negotiate the best price and terms for the vehicle they want to lease or buy. To help, we here at Goliath have compiled the following 10 tips to help people get the best possible deal on a car—new or used.
10. Set a Budget and Know Your Maximum Price
As with any major expenditure, it helps to go in with a budget and have a maximum price that you are willing to pay. The key, of course, is to stick to your budget and not go beyond your maximum price. If you are unsure how much car you can afford, check with your bank, accountant or financial planner. But be wary at the dealership. The car salespeople are there to sell you a car—for as much money as possible. They specialize in getting you to think you can afford more money than you actually have. Be strong and stick to your guns. Remember that buying a car is a psychological game. Stay true to your budget and don’t reveal your maximum price to the salesperson you’re dealing with. If they ask how much money you have to spend, low ball the number by 10 percent.