ALT-1 How to Buy a Car
Replace the word "honesty" with the word "fairly" and you are much better equipped to get a good price on a new or used vehicle. In any situation, the person who goes in properly prepared for what they are about to encounter will ALWAYS come out the best on the other side. Go into an interview prepared for the questions you will be asked, and you'll have a better chance to get the job. Go into a football game knowing the offensive plays and you're more likely to score points. Go into a car dealership knowing that your job is to buy the vehicle for as little as possible and the dealership's job is to sell the vehicle for as much as possible, and you are more likely to walk out of there with a good deal. Understand what the dealership understands; the consumer is going to say they did brakes on their trade in 6 months ago, knowing that is not true, but trying to get every last dollar they can for trade-in value. That the consumer is going to say JoeBlow Motors up the street said they would give $5000 for their trade-in, knowing that is not true, but trying to get the dealer to give more. That the consumer is going to say they haven't had any mechanical issues on their trade in the past year, knowing that is not true, but trying to get the most for their trade-in. Understanding this will eliminate "honesty" from the purchasing process and force all parties involved to deal in facts. What is the condition of the trade as it sits? What is ACV (Actual Cash Value) of the trade as it sits? How much of the profit from the vehicle being purchased, can be "shown" along with ACV to inflate the trade-in value?
Want the best deal you can get? Arm yourself with facts; check interest rates at your own bank first, check trade-in value online at one of the various sources (Kelly Blue Book, NADA, etc...), check invoice pricing online (Edmunds.com). Go into the vehicle purchasing process with facts and you can back up what you are asking for with facts. A great "disarming" tactic that dealerships use when customers say they want a specific amount for their trade, or want a specific discount off of the vehicle they are purchasing, is to ask the customer, "and what are you basing those numbers on Mr. Customer?". NOT having a factual answer to that question puts the consumer in a very defensive position and more than likely they will give into the dealerships use of factual information, or not buy at all, which is even worse in most cases because now they have to go to another dealership and start the process over again.
In closing, always remember that your best negotiating tool is your presence and the words "I will buy today if....". Nothing is more powerful to a sales manager than knowing they can sell that car or truck today "if". "If" you meet my price, "If" you give me another $1000 for my trade.
Be prepared and dont' be afraid to say I will buy today IF.
