Haggling with a Dealer over the Sale Price and Loan Terms

If you are in the process of planning to purchase a brand new car, do yourself a favor and take a few minutes to carefully consider how you plan to approach the sale negotiations with the dealership’s salesperson. Truly, one of the worst aspects of buying a new car is contending with the dealer’s salesperson. They are often overly enthusiastic, patronizing and willing to give you the sun, moon and stars – until it comes time to discuss cold, hard numbers. This is the part of the process where the person whom you thought was your friend and confidant suddenly becomes your biggest adversary.

The worst part is that you usually do not even realize this is the case until you are driving home from the dealership scratching your head at how you got taken so easily. When dealing with the salesperson, there are a few things you should consider ahead of time to help prepare yourself and to steel your resolve for the negotiations over your new car loan rates and sale price.

There Is Always Room To Haggle

In any high dollar sales purchase, there is always room to haggle. The rule of thumb is that you can negotiate the price of anything over $100 dollars. When it comes to new cars, remember to draw your line in the sand, and never agree to a purchase price that is more than you are willing to afford. Keep your wits about you and don’t be afraid to go for broke when making your initial offer. Also, never be afraid to walk away. Remember, it’s still your money until you and the salesperson make a definitive deal.

No Price Is Set In Stone

Don’t be afraid to stick to the price you want to. Likely the salesperson wants to make a deal more than you do, because its his pay check and reputation on the line. If he isn’t selling cars, he isn’t making a paycheck. If after several volleys neither you nor the salesperson are willing to budge, consider making a small concession to keep the negotiations moving forward. Remember, if you negotiate a better sale price, you will likely lose some ground with new car loan rates. If you and the dealership salesperson can find no common ground, pull the plug and walk away. Either this will force him to reconsider, or by walking away it will save you thousands of dollars.

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