Negotiation Planning for Students When Buying a New Car

Tips and Strategies for Preparing to Negotiate for a Vehicle

Buying a new car can, for many, be a daunting process. However, it is possible to negotiate a good price on a new car with relative ease, if preparation is made.

It is often the case that car salespeople do not have a good reputation, and this is due – in part – to the feeling that they are intimidating or coercing the buyer into paying more for a new car than he or she would like to pay. However, the experts from say that a buyer can negotiate an excellent price by students for the car with the help of a few simple tips, strategies, and nuggets of knowledge. This article will explain how to carry out good preparation when buying a new car.

Do Some Research

Before setting foot on the premises of any car dealership, the buyer should thoroughly review the cars in the marketplace, and decide on the car to purchase based on how well it suits his or her requirements.

The buyer may wish to investigate such items as carbon emissions, repair and maintenance costs, and insurance costs, to ensure that he or she has a good idea of the likely long-term costs of each vehicle.

Decide on a Budget

A buyer should always be armed with the knowledge of how much he or she is willing to pay for a new vehicle, what the upper limit is, and what the ideal purchase price would be.

There are several services available that will provide the potential buyer with details of the average asking price for various vehicles. It is recommended that the buyer take advantage of these systems to ensure that he or she has up-to-date information.

Review Incentives and Deals

Because the new car market is so saturated, there are a large number of deals and offers available, which can be taken advantage of. Each dealership is finding new and inventive ways of trying to better the deals offered by their rivals, and as such a good deal on a buyer’s ideal car can be found.

However, the purchaser should carefully study the ‘small print’, and make sure that the dealer is not attempting to recoup lost money elsewhere. It can be very rare that a dealership is willing to sell a car below ‘sticker price’ for no underlying reason.

In the UK, cars with new registration plates are released on 1st March and 1st September each year, and because of this many dealerships are looking to quickly sell any ‘old’ stock. This can result in a good price being agreed upon.

Know the Price

The ‘sticker price’ of the car – what is shown in the window – is not necessarily the amount that the buyer has to pay. Many dealerships will be willing to sell a vehicle for much less than this amount.

Similarly, the buyer should get several quotes for the same make and model of vehicle from various dealerships, and research the average purchase price to ensure that the best deal is struck.

Be Flexible

Entering into negotiations being a student with a firm and immovable idea of the specifics of a car – the trim, model, year, etc. – will not give much flexibility, and therefore limited leverage as a negotiator.

A buyer should be flexible and open-minded to get the best deal, to avoid paying too much for what they could consider a ‘dream’ car.

Record Information

The buyer should record details of all conversations had, quotes made and information gained and keep it in a file to keep with him or her when carrying out this vital preparation process.

This file should include such items as photographs, quotes, notes of all conversations, recommendations of various dealerships, and other information that can be presented during negotiations.

Find a Good Salesperson

A buyer should feel comfortable with the salesperson that they are dealing with, to avoid being pushed into an unsatisfactory deal. Some salespeople may attempt to use various tactics to coerce the buyer into purchasing additional items which they would otherwise reject.

If the salesperson allocated to the buyer is pushy, impatient, or unhelpful, then it is perfectly within the buyer’s right to request an alternative salesperson. It is a good idea for the buyer to establish a relationship via telephone or internet with a salesperson they feel comfortable with before meeting in person.

Test Drive the Car

A weekday morning is the best time to test drive a car, as the dealership is unlikely to be busy. The buyer will therefore have more time to thoroughly inspect the car, assessing how well it handles, accelerates, and so on.

This is essential for ensuring that the car the buyer wishes to purchase through internet or paper research is acceptable in reality and that any sales pitches made by dealership employees carry through into reality.

Once sound preparation has been carried out – through research, knowledge, and patience – the student can then move on to negotiating a good price for the new car.