When it comes to buying a car, you want to get the best deal possible. But did you know that there are five things you should never reveal to a car salesman if you want to keep the upper hand in negotiations? Here they are:
1. “I love the car.” Don’t let your emotions get the best of you. Revealing your excitement to the salesperson could give them leverage to raise the price.
2. “I’m an ophthalmologist in the University Hospital.” Keep personal information to yourself, especially if it relates to income, job stability, or financial status. Salespeople could use this information to their advantage when negotiating the price or financing terms.
3. “I’m seeking monthly payments that are not greater than 300 dollars.” Be cautious about revealing your budget upfront. Salespeople may use this information to stretch out the car’s loan period, ultimately costing you more in the long run.
4. “What can I expect to receive from my trade-in?” Don’t rush to ask about trade-ins too soon. If a salesperson knows you’re interested in trading in your vehicle, they could offer you less on the new car’s price to increase their profit margin.
5. “I’ll pay cash” or “I’ve already obtained financing.” Keep your payment plans to yourself. Salespeople often make a commission based on the financing they sell, so if they know you’ve already obtained financing elsewhere, they may not be as motivated to offer you a better deal on their financing options.
By avoiding these five things, you can increase your chances of getting the best deal possible on your new car. Remember to stay focused and not let emotions or personal information affect the negotiation process.
As a car blogger and someone who has spent a lot of time at car dealerships, I know how important it is to be careful with what you say to salespeople. The wrong words could end up costing you money or even prevent you from getting the best deal possible. In this article, I will highlight five things you should never tell a salesperson at a car dealership if you want to get the best deal.
Avoid Expressing Too Much Love for the Car
It’s common to feel excited and enthusiastic when you find a car you love, but you want to be careful not to let that excitement show too much. If the salesperson knows you’re in love with a particular car, they may try to take advantage of your emotions by offering you a higher price. Instead, try to remain calm and collected when discussing the car you’re interested in.
Tip: Try not to mention that you love the car until you’ve negotiated a fair price.
Don’t Reveal Your Profession or Income
While it may seem innocent to mention your profession or income, it’s actually not in your best interest. Salespeople will make assumptions about how much you can afford based on this information and may try to offer you a higher price. Additionally, if you’re in a high-paying profession, they may assume you don’t have the time to shop around and negotiate – making you an easy target.
Tip: Avoid mentioning your profession or income unless it’s absolutely necessary for financing purposes.
Never Mention Your Ideal Monthly Payment
One of the biggest mistakes people make when they start negotiating with a salesperson is telling them what their ideal monthly payment would be. This gives the salesperson a lot of information to work with and can make it challenging to negotiate a fair price. Instead, focus on negotiating the total cost of the car, then worry about the monthly payments later.
Tip: Focus on the total cost of the car rather than your ideal monthly payments.
Keep Your Trade-In Value Negotiation Private
If you’re trading in your old car, keep the value of your trade-in private until after you’ve negotiated the price of the new car. If you mention your trade-in value too early, the salesperson might adjust the price of the new car to make up for any potential losses in the trade.
Tip: Only discuss the trade-in value after you’ve negotiated the price of the new car.
Avoid Mentioning Payment Method (Cash or Financing) Too Early
If you have the option to pay cash or choose financing, don’t mention your preferred method too early in the negotiation process. If you mention that you’re planning on paying cash, the salesperson may not be motivated to offer you a lower price because they won’t make money on the financing. Alternatively, if you mention that you’ll be financing the car, they may try to tack on additional fees or a higher interest rate.
Tip: Hold off on mentioning your payment method until you’ve negotiated the best deal possible.
In conclusion, being mindful of what you say to a salesperson can mean the difference between getting a great deal and paying too much. Avoid expressing too much love for the car, don’t reveal your profession or income, never mention your ideal monthly payment, keep your trade-in value negotiation private, and avoid mentioning your payment method too early. By following these tips, you’ll be more likely to negotiate a fair price for the car you want.