Buying a Car? Maybe You Need to Walk Away?
A friend of mine asked me about buying cars and, after your house, I suppose that the most significant purchase that most people will make will be their car. For some reason, buying a car sends a shiver of apprehension up a lot of people’s spines – I suppose because most folk are embarrassed by the whole “haggling” thing. They have seen the TV programs where you are advised to go in tough and beat the poor salesperson into the ground, but somehow they know that approach is not one with which they feel comfortable. So they meekly accept the first offer that is put on the table and they buy the salesman’s patter that the deal they have secured is “as good as you will get this weekend, sir”.
Car buyers should, first and foremost, recognize that they have one significant advantage over the salesperson – their ability to walk away. Knowing that you can walk should give you confidence in your dealings with the garage. Even if the deal on offer is beyond your wildest dreams, you should make to walk away.
Make sure that you have a set budget in mind and are absolutely clear about what you need in the car. If you do not need leather, for example, and the salesman is trying to sell you a car off the forecourt with leather, make it absolutely clear that you do not need or want leather and that they will need to remove the cost of the extra from the car before you would think about buying.
There is no substitute for doing your research. The information on what a car is worth is out there on the internet or in the popular car magazines. Become a car nerd for a month or two before you actually go in and have a look around at the cars. Take a drive to another garage and have a practice negotiation with them (see note above about walking away!).
Never accept the “sticker price” or first offer. Apart from anything else, the salesperson will be insulted and unable to sleep for many a