Art of price negotiation
Discussion
As well as buying a replacement daily runner I am also selling my vintage car. Buying the daily from a dealer and selling my vintage car myself.
I have advertised my vintage car very close to my lowest acceptable price so used the 'ono' after the asking price. How is best way to counter the terrible question 'what's the lowest price you will accept'? I replied 'I will take a near offer but it is up to you to make an offer if you are interested in buying the car'. Could I have done better or more?
Hate price negotiations with dealers, they are experts at it of course, its thier living in fairness.
Any tips I can take with me when I view cars?
Inputs appreciated.
I have advertised my vintage car very close to my lowest acceptable price so used the 'ono' after the asking price. How is best way to counter the terrible question 'what's the lowest price you will accept'? I replied 'I will take a near offer but it is up to you to make an offer if you are interested in buying the car'. Could I have done better or more?
Hate price negotiations with dealers, they are experts at it of course, its thier living in fairness.
Any tips I can take with me when I view cars?
Inputs appreciated.
The 'wots ur lowest price m8' rabble are invariably timewasters, you can probably ignore them altogether.
People who are happy to endlessly text back and forth are often timewasters.
People who are serious will generally phone, or text / e-mail once or twice and will then want to talk on the phone or come and see the car.
If the price is negotiable I tell them that the price is negotiable and they should come and see the car to properly appraise it.
I have recently had success in selling a car by simply telling the prospective buyer, when asked, ‘what I want’ for the car. I gave them my bottom line, they recognised that it was a decent price for the car and there was no bartering at all.
The same applies when buying- ask if the price is negotiable. Perhaps tell them what you are willing to pay before you travel. “I am looking to spend about £8k, is it worth coming up and having a look?” cuts out some of the ambiguity and hopefully saves both parties wasted time. If you are expecting to reduce that provisional offer, justify it.
Most dealerships have very narrow margins so there is no point low-balling, you’ll just get their back up. If they won’t move as far as you’d like on price, start asking if they can throw in some remedial work (if used) / a service / accessories etc.
People who are happy to endlessly text back and forth are often timewasters.
People who are serious will generally phone, or text / e-mail once or twice and will then want to talk on the phone or come and see the car.
If the price is negotiable I tell them that the price is negotiable and they should come and see the car to properly appraise it.
I have recently had success in selling a car by simply telling the prospective buyer, when asked, ‘what I want’ for the car. I gave them my bottom line, they recognised that it was a decent price for the car and there was no bartering at all.
The same applies when buying- ask if the price is negotiable. Perhaps tell them what you are willing to pay before you travel. “I am looking to spend about £8k, is it worth coming up and having a look?” cuts out some of the ambiguity and hopefully saves both parties wasted time. If you are expecting to reduce that provisional offer, justify it.
Most dealerships have very narrow margins so there is no point low-balling, you’ll just get their back up. If they won’t move as far as you’d like on price, start asking if they can throw in some remedial work (if used) / a service / accessories etc.
crankedup said:
As well as buying a replacement daily runner I am also selling my vintage car. Buying the daily from a dealer and selling my vintage car myself.
I have advertised my vintage car very close to my lowest acceptable price so used the 'ono' after the asking price. How is best way to counter the terrible question 'what's the lowest price you will accept'? I replied 'I will take a near offer but it is up to you to make an offer if you are interested in buying the car'. Could I have done better or more?
Hate price negotiations with dealers, they are experts at it of course, its thier living in fairness.
Any tips I can take with me when I view cars?
Inputs appreciated.
Car salesman here, I have advertised my vintage car very close to my lowest acceptable price so used the 'ono' after the asking price. How is best way to counter the terrible question 'what's the lowest price you will accept'? I replied 'I will take a near offer but it is up to you to make an offer if you are interested in buying the car'. Could I have done better or more?
Hate price negotiations with dealers, they are experts at it of course, its thier living in fairness.
Any tips I can take with me when I view cars?
Inputs appreciated.
Tips I would give you is research similar cars and what they are priced at that way you know whats a fair price to pay.
P.S. I've always left the 'o.n.o' or 'o.v.n.o' off the end, in my experience people assume the price is flexible anyway and adding those acronyms seems to make them assume the price is very flexible.
Put an asking price on, with a full stop on the end. £8k. If the price is firm, say so.
Put an asking price on, with a full stop on the end. £8k. If the price is firm, say so.
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