Thinking of buying a new car this weekend? Here are tips to get you a better deal: "Take the emotion out of it.
If the salesperson thinks that you've fallen in love with the car, you lose.
" Try this approach: "This is for use a company car so we only care about getting the best deal.
We've narrowed it down to a Chevy, a Ford and a Toyota.
Either one of those will work for us.
" Don't be fooled by the so-called invoice price.
Dealers will happily sell you cars at 5% below invoice because of the credits they get back from the factory.
I once negotiated a Chevy with a TV producer using a hidden camera and got it for 7% below invoice.
Power in a negotiation comes from convincing the other side that you have options.
Let them know that you already have another car picked out and just want to know if they could beat the price by enough to make it worthwhile.
Do your homework.
If you were going on vacation, you're be willing to spend a few hours researching your options, wouldn't you? Take the same approach when you investing a new car and see what a great return on investment you get for the time you spend.
Realize that you are out gunned.
You buy a new car every 3 or 4 years.
The salesperson negotiates two or three times a day.
Study up on negotiating skills because as I always say, "You will never make money fast that you will when you're negotiating.
I don't care if you do brain surgery in your spare time you'll still make more per hour when you're negotiating than anything else you can do.
"
If the salesperson thinks that you've fallen in love with the car, you lose.
" Try this approach: "This is for use a company car so we only care about getting the best deal.
We've narrowed it down to a Chevy, a Ford and a Toyota.
Either one of those will work for us.
" Don't be fooled by the so-called invoice price.
Dealers will happily sell you cars at 5% below invoice because of the credits they get back from the factory.
I once negotiated a Chevy with a TV producer using a hidden camera and got it for 7% below invoice.
Power in a negotiation comes from convincing the other side that you have options.
Let them know that you already have another car picked out and just want to know if they could beat the price by enough to make it worthwhile.
Do your homework.
If you were going on vacation, you're be willing to spend a few hours researching your options, wouldn't you? Take the same approach when you investing a new car and see what a great return on investment you get for the time you spend.
Realize that you are out gunned.
You buy a new car every 3 or 4 years.
The salesperson negotiates two or three times a day.
Study up on negotiating skills because as I always say, "You will never make money fast that you will when you're negotiating.
I don't care if you do brain surgery in your spare time you'll still make more per hour when you're negotiating than anything else you can do.
"