Best strategy to negotiate a lower price for your car
- Go to the dealer of a similar car that you don’t want. Your second choice car. Don’t waste time test driving. Just get a quote for the car that has all the features you want, such as backup camera, cruise control, blind spot detection, HD radio, XM radio, pedestrian detection with automatic breaking.
- Have them give you their best price and best interest rate, in writing. Make sure to get the interest rate quotes for both 5 year loan and 6 year loan.
- Always ask them “Is that the best you can do?”
- Take those numbers to have as a negotiating tool.
- Go to the dealer where they sell the car that you want.
- Have them give you their best price and best interest-rate.
- If the dealer of the car you want does not have offer a better price and better interest-rate after you ask them “Is that the best you can do?”, use the numbers from the other dealer to tell them that the dealer down the street has a better deal. Never let on that you actually do not want to buy the competing car.