If you're uncomfortable haggling over price, bring along someone who isn't. Our daughter came with us at the second dealership to help close the deal as she is a much better haggler than me!
Once we got a verbal offer which was better than the first dealership, we offered a trade-in. They checked out our vehicle which came back clean and repair free. After some haggling over the trade-in value, we struck a deal and drove home that night in a brand new SUV.
It probably helped that we timed our purchase during "Black Friday" when dealerships were incentivized to make a deal.
What are some strategies to help you master the art of haggling?
Do Your Research Before entering into any negotiation, it's crucial to research the item or service you're interested in purchasing. Understand its market value, typical pricing, and any relevant factors that could affect its price. This knowledge will give you leverage during the negotiation process and allow you to make informed arguments for a better deal.
Establish a Budget And Know Your Limits Set a clear budget for yourself before entering into negotiations. Determine the maximum amount you're willing to pay and stick to it. Knowing your limits prevents you from overspending or agreeing to a deal that doesn't align with your financial goals.
Start Low But Realistic When making your initial offer, start lower than your budget but remain realistic. A significantly lowball offer may be perceived as insincere or disrespectful. Aim for a price that is fair but advantageous to you, allowing room for the seller to counteroffer without feeling insulted.
Be Patient And Persistent Negotiations can take time, so be patient and persistent. Don't rush the process or settle for a deal that doesn't meet your objectives. Stay calm, respectful, and willing to engage in back-and-forth discussions to reach a satisfactory agreement.
Use Silence To Your Advantage Silence can be a powerful negotiating tactic. After making an offer or counteroffer, resist the urge to fill the silence immediately. Allow the other party time to consider your proposal and respond. Sometimes, the silence can prompt them to offer a better deal or reveal more information. |