AUTO
TIPS
ON NEGOTIATING YOUR CAR PURCHASE
Negotiating your car purchase does not have to be stressful or confrontational.
Here are 10 tips on how to keep your cool and control in order to get
the vehicle of your dreams.
1- Negotiate only when you are ready to buy.
Sales people are trained to spot the window shoppers and will know that
you are not serious about buying.
1- Create
a list of questions.
By now you will know what type of vehicle you are looking for and what your maximum monthly payment could be, however, before you
make your final decision you may want to write a list of questions to
ask your auto dealer or finance company.
• How long will the process take?
• What your current interest
rate?
• How much is my total
payment?
• How is my payment calculated?
• What’s the total
interest charge?
• Are there any other
fees?
• What if I can’t
make my payments?
3- Know what
you should pay for the car you want.
If you have shopped around you will know what the lowest price in the
market is and what other discounts are being offered such as government
rebates, special discounts and trade-ins.
4- Stay focused
and don’t allow the dealer to over sell you.
Resist last minute attempts to add options or packages you do not want,
do not need, and or never agreed to.
• Beware of the following sales tactics:
• Demanding deposits to
show you mean business.
• Changing sales people
in the middle of negotiations.
• Holding you keys long
after using them to test drive your car for trade-in purpose.
• Asking for an unusually
high down payment.
5- Speak
only to decision makers.
Tell the sales person that you want the manager in on the conversation
because you don’t want to waste time.
6- Be professional
Remain calm and level headed at all times. Never raise your voice. Keep
your interest in a vehicle free of enthusiasm, as it will let the seller
know that you are in control and will walk away if you do not get the
deal you are looking for.
7- Know when
to compromise.
Although you may prefer a blue Dodge, but if the dealer has the same
car in another colour, this is the time when you can compromise as it
will allow you to stay focused on what is really important.
8- Get it
in writing.
Get all quotes and promises in writing as negotiation continue. Once
you reach an agreement get it in writing. Do not sign anything you do
not understand or have no record of discussing.
9- Know when
to walk away.
If you are not happy with the way the negotiations are going, if you
are feeling uncomfortable with the sales pitch. Before you say something
you will regret, be polite and express your thanks and do not hesitate
to get up and leave and go elsewhere.
10- Cooling
off period
Once you sign on the dotted line the contract obligates you to buy that
vehicle and is also final. Many provinces do not provide a “cooling
off” period if you change your mind. If you are taking the car
subject to certain conditions, those conditions should be clearly stated
in writing on the front of the contract. Also take the time to read
the contract carefully – it’s both your right and your responsibility.
If you don’t understand something, ask the dealer for clarification.
You can also try to negotiate terms that are better suited for you and
ask for amendments to the contract
 
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