Car dealers/salesmen have been touted as one of the worst people in the world for ripping off consumers. It’s true, even today, car buying process in America isn’t easy as paying for the retail sticker, you must haggle, haggle, and haggle.
Well, I just came across the “secrets” of car negotiation that could possibly make you a better negotiator the next time you shop for cars.
Salesman: So let me ask you this, Oren. I know you’re a businessman, and we’re both real busy. So if I were to offer you the car at $47,900, would that work?
Weintraub: I would say that if you can do $44K on the car, we would probably have a deal. But I don’t want to present it to him unless it’s a real offer.
Salesman: OK. I’ll see if I can make that deal happen. One more question: Are you in the market for any other vehicles at this time?
Weintraub: What you do right now could lead to more business for you. If we find the people we’re dealing with to be professional and tenacious about price, we’ll send you more business.
Salesman: I’ll call you right back.
Notice also that Weintraub reviewed the specifications on the car: It’s a 2005, certified with 29,000 miles on it. It’s essential to establish — and then confirm — the details of the car you are buying. Year, make, model, number of miles, condition level and warranty details all affect the value of the car.
After a few more rounds of car negotiating, Weintraub got the price of the Mercedes, which was originally on sale for $49,995, down to $45,500. His client bought the car.