How to Negotiate a Vehicle Purchase Price
- 1). Do an Internet search and find out what the car/s you are interested in are worth.
- 2). Call or email the fleet manager or the sales manager of three or four dealerships and ask for the dealership's best price on the vehicle you want. Get this figure confirmed by email or fax.
- 3). Come in to a dealership for a test drive only. Do not negotiate the same day. Just drive the car and go home. Come back another time to negotiate price.
- 4). Research what you can get for a trade-in for your current vehicle. Look at the trade-in value, not the retail value. Alternatively, you could take your car in to dealerships to see what their appraisal is.
- 5). Find out what interest rate you qualify for by checking with your bank or credit union.
- 6). Go into the dealership and tell the salesperson exactly how much you are willing to pay for the car/s you are interested in and how much you are willing to take for a trade-in.
- 7). Negotiate the three transactions of purchase price, trade-in and loan rate separately and in that order. Do not let the dealer start talking about what your monthly payment will be because this blurs the line between each transaction, according to Kiplinger.com.