{"id":2151,"date":"2017-01-25T09:00:38","date_gmt":"2017-01-25T14:00:38","guid":{"rendered":"https:\/\/www.autoraptor.com\/?p=2151"},"modified":"2017-01-25T09:00:38","modified_gmt":"2017-01-25T14:00:38","slug":"simple-rules-negotiating-car-price-buyers","status":"publish","type":"post","link":"https:\/\/www.autoraptor.com\/blog\/simple-rules-negotiating-car-price-buyers\/","title":{"rendered":"5 Simple Rules of Negotiating Car Price With Buyers"},"content":{"rendered":"

\"negotiating<\/h2>\n

Negotiating car price doesn\u2019t have to be the hardest part of your job if you keep these easy rules in mind<\/h2>\n

Does it sometimes feel like selling a car is like competing on the TV show \u201cAmerican Ninja Warrior?\u201d It can be thrilling and challenging as you conquer each obstacle. And finally, in the end, you have one last major obstacle: to scale the \u201cwarped wall,\u201d a steep, curving structure that stands about 15 feet tall. In the case of auto sales, the \u201cwarped wall\u201d is negotiating car price with a buyer to the point that you are both happy. It\u2019s a delicate balance, and certainly not for the faint of heart.<\/p>\n

\"negotiating<\/p>\n

Negotiating car price: Why it’s important to consumers<\/h3>\n

Some dealerships are moving toward fixed pricing and no-haggle promises, but the vast majority are still willing to negotiate. According to Harvard Business Review, only 13% of car shoppers\u00a0don\u2019t like to negotiate<\/a>, and would rather buy a market-priced vehicle. On the flip side, 45% of car buyers do<\/em>\u00a0like to negotiate to what they feel is a fair price. Another 20% want to negotiate down to the lowest price possible.<\/p>\n

Negotiation has been part of the car-buying experience<\/a>\u00a0for decades, and while not everyone loves it, they may feel like they need to engage to get a fair price. And, because the auto industry is constantly battling the public perception of the sleazy, dishonest salesperson<\/a>, many customers will always feel like the wool is being pulled over their eyes\u2014even when a salesperson names an incredibly reasonable price.<\/p>\n

\"negotiating<\/p>\n

Negotiating car price: How to handle the situation like a pro<\/h3>\n

For some salespeople, negotiating car price is an art form. The back-and-forth, \u201cplaying the game\u201d\u2014it just gives them a rush. There are two things to remember as you hone your craft, though:<\/p>\n

1. It can take years to master the art of negotiating. <\/strong><\/p>\n

If you jump in with an open mind and a willingness to learn (and fail), you\u2019ll become one of the best.<\/p>\n

2. If you\u2019re an old pro and confident in your skills, don\u2019t get comfortable.<\/strong><\/p>\n

Car buyers are doing more research, and they\u2019re coming in armed with numbers and knowledge. The industry itself continues to change. You might as well grow with it<\/a>.<\/p>\n

Here are five situations you may have to deal with in negotiations:<\/strong><\/p>\n

1. The scenario<\/strong>: A husband and wife reach the negotiation stage, and the man seems to be taking the reigns through the entire process. He\u2019s talking the most, the loudest, and with authority. He appears to be the one who is \u201cin charge\u201d of making the deal.<\/p>\n

Rule<\/strong>: Don\u2019t assume anything and always engage both buyers equally. Sometimes, salespeople have a tendency to ignore wives during negotiations because they believe they aren\u2019t involved. The truth is that over 80% of car purchases are influenced by women, and the one sitting in front of you may have the final say. Ask both husband and wife thoughtful questions and look them both in the eyes equally.<\/p>\n

2. The scenario<\/strong>: You have a customer who is trying to negotiate with you, but they\u2019re getting confused by all of the numbers. They can\u2019t keep everything straight, and they\u2019re getting frustrated with the process. They feel like they\u2019re getting swindled, and they\u2019re considering just walking away.<\/p>\n

Rule<\/strong>: Everyone processes information differently, and though you may be the type who needs to talk it out, you may have customers that are more visual. When you say a number, write it down. When you\u2019re doing the math for them to show value, write it down.<\/p>\n

3. The scenario<\/strong>: Your customer is dead set on a monthly payment of $300, but the absolute lowest you can go is $315. You\u2019re so close, but the customer isn\u2019t budging.<\/p>\n

Rule<\/strong>: Put the extra $15 into perspective for them by breaking it down into smaller amounts. For example, you can explain that $15 more a month is only one dollar every other day. Isn\u2019t the car of their dreams worth an extra dollar every other day? Or not going out to lunch at work one day a month?<\/p>\n

4. The scenario<\/strong>: A prospective buyer starts the negotiation with a laughably small amount. You are baffled as to why they would even say a number that low because it\u2019s not realistic at all.<\/p>\n

Rule<\/strong>: Don\u2019t insult the customer\u2019s intelligence. Keep a straight face, even when they give you ridiculous numbers. You may want to say something like \u201cWhere did you get that number?\u201d in a non-condescending tone. Wait to hear their answer and go from there, but never make them feel stupid.<\/p>\n

5. The scenario<\/strong>: You\u2019re ready to start negotiating car price with a customer, but they want you to name the starting price. You don\u2019t want to start too high or too low, but you\u2019re not sure where the sweet spot is.<\/p>\n

Rule<\/strong>: You don\u2019t want to start too high, but it\u2019s much worse for you if you start too low. Begin negotiations slightly higher, so you\u2019re able to come down in small increments and end up at a price you\u2019re both happy with.<\/p>\n

\"negotiating<\/p>\n

Negotiating car price: 5 simple rules<\/h3>\n

With all of those scenarios in mind, here\u2019s the short list of rules you should remember when negotiating with customers:<\/p>\n

    \n
  1. Engage both buyers<\/li>\n
  2. Write it down<\/li>\n
  3. Put the numbers into perspective<\/li>\n
  4. Don\u2019t insult the customer<\/li>\n
  5. Watch your starting price<\/li>\n<\/ol>\n

    Put yourself in a better position for negotiating car price by constantly doing your homework. Read published tips for consumers about negotiating so you can understand where they\u2019re coming from, and have prepared reactions and answers ready in certain situations.<\/p>\n

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    Schedule an AutoRaptor Demo Now!<\/h3>\n<\/div>\n