Haggling and Part Exchange - How do i do it?
Discussion
I'm a novice when trying to negotiate a deal, and have no idea on how to talk to a salesman to haggle down a price (or how to play the "game").
In the past I've only been able to get a small drop in the asking price, but nothing compared to the potential 5%-10% that people "in the know" are able to achieve.
In the next month, i will be looking at part exchanging an e70 40d for, ideally, an F18/F85 X5m.
There are a number of examples in the £40-50K bracket, and each one have pros and cons about them.
From the moment i walk into a dealership, what do i do, so that i don't prevent myself from obtaining a discount on the car i want to purchase. And to prevent a good price for the car i want to trade in?
A guide, Youtube clip, examples would be much appreciated.
In the past I've only been able to get a small drop in the asking price, but nothing compared to the potential 5%-10% that people "in the know" are able to achieve.
In the next month, i will be looking at part exchanging an e70 40d for, ideally, an F18/F85 X5m.
There are a number of examples in the £40-50K bracket, and each one have pros and cons about them.
From the moment i walk into a dealership, what do i do, so that i don't prevent myself from obtaining a discount on the car i want to purchase. And to prevent a good price for the car i want to trade in?
A guide, Youtube clip, examples would be much appreciated.
There's no guide as such as ultimately you're dealing with a person and everyone is different. What I would say is do your homework beforehand i.e look at similar age/mileage/spec cars to get an idea of what they're selling for BUT price isn't everything, a car with a lot of options being sold by a BMW dealer will be more expensive by several thousand than a standard spec car being sold by Bobs Autos but that is not necessarily a bad thing.
Put your car into We Buy Any Car to get an idea of what will be offered as a trade in.
Once you're sat in front of the dealer then tell them what deal you want and go from there and see what they say. But whatever you do, don't say things like "i've seen one down the road with less miles for less money" or something along those lines because the dealer will know its rubbish and probably hold firm on the price thinking you're just chancing your luck for a discount whereas if you go in and say I only want to give you £X as thats my budget the dealer will more than likely do whatever they can to make it work (not immediately but hold firm on your budget)
Put your car into We Buy Any Car to get an idea of what will be offered as a trade in.
Once you're sat in front of the dealer then tell them what deal you want and go from there and see what they say. But whatever you do, don't say things like "i've seen one down the road with less miles for less money" or something along those lines because the dealer will know its rubbish and probably hold firm on the price thinking you're just chancing your luck for a discount whereas if you go in and say I only want to give you £X as thats my budget the dealer will more than likely do whatever they can to make it work (not immediately but hold firm on your budget)
Do you know what your car is worth or what you expect to get for it? If not then maybe try putting the details into WBAC. Also take a look in the classifieds for cars similar to what you're going to buy to get an idea for the price range. You can't really work a good deal unless you know the value of things.
There's no special technique, tricks or script. Know your numbers, know what you'd be happy with in the way of a deal, be polite and don't convince yourself the dealer will be insulted talking numbers, they do it all day every day. Most importantly, if you aren't happy remember you can thank them for their time and walk away.
There's no special technique, tricks or script. Know your numbers, know what you'd be happy with in the way of a deal, be polite and don't convince yourself the dealer will be insulted talking numbers, they do it all day every day. Most importantly, if you aren't happy remember you can thank them for their time and walk away.
If it was me....not saying this is the right way
Look at ebay sold listings for similar vehicles not advertised prices so you have an idea
get a proper value for your trade-in via WBAC/Motorway, best offer is probably not far off the prices on ebay but would probably be reduced on inspection.
Make sure the car you want is right, speak with the salesman honestly so the price you want to pay is right and that any work that needs doing is factored into the price.
Once you've agreed a price then ask about part-ex but don't reveal how much you've been offered, the valuation you have gives you some backup on the value. Dealer may not want your car at all so at least if you've got a proper offer you can still look to do the deal as a direct sale and sell private/to whoever offered from step one.
If dealer gets within touching distance of the best offer on step one I'd probably accept it, he's seen the car and its a single entity to deal with.
Look at ebay sold listings for similar vehicles not advertised prices so you have an idea
get a proper value for your trade-in via WBAC/Motorway, best offer is probably not far off the prices on ebay but would probably be reduced on inspection.
Make sure the car you want is right, speak with the salesman honestly so the price you want to pay is right and that any work that needs doing is factored into the price.
Once you've agreed a price then ask about part-ex but don't reveal how much you've been offered, the valuation you have gives you some backup on the value. Dealer may not want your car at all so at least if you've got a proper offer you can still look to do the deal as a direct sale and sell private/to whoever offered from step one.
If dealer gets within touching distance of the best offer on step one I'd probably accept it, he's seen the car and its a single entity to deal with.
I managed to get 36% off list on a new BMW 340i simply by buying it pre registered (it was a showroom model with 12 miles on the clock). I also managed to get a further discount of £1000 by taking out their stupidly outrageous finance deal (something like 12.9%) and paying it off within 14 days. I always ask if there's a 'finance incentive' ..even if there isn't (you don't often get it on a technically used car such as pre reg ) however they will often move on the screen price if you do take finance. I also went in at the end of the quarter.
Remember BMW's list price is a bit of a joke, no one pays list obviously.
Notwithstanding the model in question this time was being discontinued, I guess I got lucky as it had the spec I wanted.
I've repeated the same on our last four cars (two BMW ,one Lexus, one Mini)..all pre reg, take finance (pay it off) and ask for an 'incentive' to do so , usually enquire towards end of quarter. That said and as mentioned above I've scoured the country for deals beforehand, researched the hell out of my part ex as well.
Quite often with a part ex it will work on cost to change, you have to be brutally realistic here with your expectations but do some homework and get some quotes (WBAC / Wizzle etc), these dealers aren't mugs so don't try to play them off .
I've done all the tricks (got up walked out etc), one dealer refused to budge £500 on a £35k motor, one dealer rang me back a week later upping my part ex by £2.5k.....keep an open mind, have several cars on your radar. I've had plenty fall through.
That said there will be plenty of people more experienced than me on here, some in the trade.
Remember BMW's list price is a bit of a joke, no one pays list obviously.
Notwithstanding the model in question this time was being discontinued, I guess I got lucky as it had the spec I wanted.
I've repeated the same on our last four cars (two BMW ,one Lexus, one Mini)..all pre reg, take finance (pay it off) and ask for an 'incentive' to do so , usually enquire towards end of quarter. That said and as mentioned above I've scoured the country for deals beforehand, researched the hell out of my part ex as well.
Quite often with a part ex it will work on cost to change, you have to be brutally realistic here with your expectations but do some homework and get some quotes (WBAC / Wizzle etc), these dealers aren't mugs so don't try to play them off .
I've done all the tricks (got up walked out etc), one dealer refused to budge £500 on a £35k motor, one dealer rang me back a week later upping my part ex by £2.5k.....keep an open mind, have several cars on your radar. I've had plenty fall through.
That said there will be plenty of people more experienced than me on here, some in the trade.
Edited by slowpeddler65 on Monday 30th November 18:56
andburg said:
If it was me....not saying this is the right way
Look at ebay sold listings for similar vehicles not advertised prices so you have an idea
get a proper value for your trade-in via WBAC/Motorway, best offer is probably not far off the prices on ebay but would probably be reduced on inspection.
Make sure the car you want is right, speak with the salesman honestly so the price you want to pay is right and that any work that needs doing is factored into the price.
Once you've agreed a price then ask about part-ex but don't reveal how much you've been offered, the valuation you have gives you some backup on the value. Dealer may not want your car at all so at least if you've got a proper offer you can still look to do the deal as a direct sale and sell private/to whoever offered from step one.
If dealer gets within touching distance of the best offer on step one I'd probably accept it, he's seen the car and its a single entity to deal with.
I use a similar strategy, use WBAC and Autotrader to work out a value for my part ex then do a bit of research on sort of price the car I want is by using Autotrader and Drivethedeal. So I’ve got a figure in my head what I was for the part-ex and what I want to pay for the new car, then it’s the conversation with the dealer to see how far apart our valuations are.Look at ebay sold listings for similar vehicles not advertised prices so you have an idea
get a proper value for your trade-in via WBAC/Motorway, best offer is probably not far off the prices on ebay but would probably be reduced on inspection.
Make sure the car you want is right, speak with the salesman honestly so the price you want to pay is right and that any work that needs doing is factored into the price.
Once you've agreed a price then ask about part-ex but don't reveal how much you've been offered, the valuation you have gives you some backup on the value. Dealer may not want your car at all so at least if you've got a proper offer you can still look to do the deal as a direct sale and sell private/to whoever offered from step one.
If dealer gets within touching distance of the best offer on step one I'd probably accept it, he's seen the car and its a single entity to deal with.
Generally over the years I’ve bought more cars than I’ve walked away from after a few ‘I need to speak to my manager’ conversations. Maybe my valuations are all wrong!
In my experience the first question the dealer will ask is “is there a part exchange?” so I don’t think you’ll get to hold that back.
As others have said, prepare yourself for what they’ll offer (WBAC) then wince when they tell you. Then you say “is that all?” / “it cost me more than that at the last service” / “blimey, I might sell it privately then” etc. Probably won’t make any difference but you never know, there might be a bit of wiggle room.
I actually think it’s a lot easier to negotiate if there’s a part ex because by definition the dealer is making you an offer and unlike their car there won’t be a screen price to start things off.
Last thing, valet your car thoroughly, touch in stone chips etc or at least get it to the local hand car wash for an inside and out. Again, won’t make any difference if the sales person simply looks at their screen/book without getting out of their chair but it could make the difference between fair and clean, or at least make a good impression and show you mean business.
In my experience the best way to try for money off the car you’re buying is to find fault with it which is easy with a used car but not really an option with new.
As others have said, prepare yourself for what they’ll offer (WBAC) then wince when they tell you. Then you say “is that all?” / “it cost me more than that at the last service” / “blimey, I might sell it privately then” etc. Probably won’t make any difference but you never know, there might be a bit of wiggle room.
I actually think it’s a lot easier to negotiate if there’s a part ex because by definition the dealer is making you an offer and unlike their car there won’t be a screen price to start things off.
Last thing, valet your car thoroughly, touch in stone chips etc or at least get it to the local hand car wash for an inside and out. Again, won’t make any difference if the sales person simply looks at their screen/book without getting out of their chair but it could make the difference between fair and clean, or at least make a good impression and show you mean business.
In my experience the best way to try for money off the car you’re buying is to find fault with it which is easy with a used car but not really an option with new.
griffter said:
In my experience the first question the dealer will ask is “is there a part exchange?” so I don’t think you’ll get to hold that back.
As others have said, prepare yourself for what they’ll offer (WBAC) then wince when they tell you. Then you say “is that all?” / “it cost me more than that at the last service” / “blimey, I might sell it privately then” etc. Probably won’t make any difference but you never know, there might be a bit of wiggle room.
I actually think it’s a lot easier to negotiate if there’s a part ex because by definition the dealer is making you an offer and unlike their car there won’t be a screen price to start things off.
Last thing, valet your car thoroughly, touch in stone chips etc or at least get it to the local hand car wash for an inside and out. Again, won’t make any difference if the sales person simply looks at their screen/book without getting out of their chair but it could make the difference between fair and clean, or at least make a good impression and show you mean business.
In my experience the best way to try for money off the car you’re buying is to find fault with it which is easy with a used car but not really an option with new.
answer to is there a part exchange is always, not at this stage I've got the car advertised privately.As others have said, prepare yourself for what they’ll offer (WBAC) then wince when they tell you. Then you say “is that all?” / “it cost me more than that at the last service” / “blimey, I might sell it privately then” etc. Probably won’t make any difference but you never know, there might be a bit of wiggle room.
I actually think it’s a lot easier to negotiate if there’s a part ex because by definition the dealer is making you an offer and unlike their car there won’t be a screen price to start things off.
Last thing, valet your car thoroughly, touch in stone chips etc or at least get it to the local hand car wash for an inside and out. Again, won’t make any difference if the sales person simply looks at their screen/book without getting out of their chair but it could make the difference between fair and clean, or at least make a good impression and show you mean business.
In my experience the best way to try for money off the car you’re buying is to find fault with it which is easy with a used car but not really an option with new.
Research is your friend.
Research the car you want. Know exactly what is a must-have - model, spec, colour. Know exactly what you're not fussed about - colour, trim, options, etc.
I find that dealers much prefer someone who knows what they want and isn't indecisive - it shows your serious and want to get a deal done.
Research the price of the new car. Use DrivetheDeal, Broadspeed or similar to get a target price of what to pay for what you want. Have this information ready to take to a few dealers
Research the trade in price of your car. Look at some sold prices, some private sale prices (take some off obviously as you're trading in)
the goal is to get a price band for the value of your car that you're happy with taking. it will never be exact.
Take all this to a few dealers - doesn't have to be in person. Lay out what you're looking for a what you have. Don't try and play games, lie or hide things that don't need hiding - it's a purchase at the end of the day. An expensive one, but there's no reason why it can't be pleasant - buying cars is fun after all
Don't assume that the dealer is trying to rip you off. They're a business at the end of the day but they also want to sell cars. They want to make a bit of money and you want a bit off. It should be reasonable to find a happy medium in there for both if both parties acknowledge that.
Research the car you want. Know exactly what is a must-have - model, spec, colour. Know exactly what you're not fussed about - colour, trim, options, etc.
I find that dealers much prefer someone who knows what they want and isn't indecisive - it shows your serious and want to get a deal done.
Research the price of the new car. Use DrivetheDeal, Broadspeed or similar to get a target price of what to pay for what you want. Have this information ready to take to a few dealers
Research the trade in price of your car. Look at some sold prices, some private sale prices (take some off obviously as you're trading in)
the goal is to get a price band for the value of your car that you're happy with taking. it will never be exact.
Take all this to a few dealers - doesn't have to be in person. Lay out what you're looking for a what you have. Don't try and play games, lie or hide things that don't need hiding - it's a purchase at the end of the day. An expensive one, but there's no reason why it can't be pleasant - buying cars is fun after all
Don't assume that the dealer is trying to rip you off. They're a business at the end of the day but they also want to sell cars. They want to make a bit of money and you want a bit off. It should be reasonable to find a happy medium in there for both if both parties acknowledge that.
Thank you for the great advice so far.
It seems that i will need to give my car a bit of TLC before approaching the dealership, also i will have to work out what i want from the new car too.
Although there only seems to be about 6 cars in the UK that fit the criteria, hopefully that should make my job easier on working out a cost.
Will also have a look at WBAC/Autotrader to see what i could achieve for my car, I'm hoping for about £10k.
It seems that i will need to give my car a bit of TLC before approaching the dealership, also i will have to work out what i want from the new car too.
Although there only seems to be about 6 cars in the UK that fit the criteria, hopefully that should make my job easier on working out a cost.
Will also have a look at WBAC/Autotrader to see what i could achieve for my car, I'm hoping for about £10k.
ukwill said:
My thoughts on this are:
Be prepared to walk away.
Unless it's a one of a kind thing, another will come up.
Good advice, to a point. I have two experiences of this,. Be prepared to walk away.
Unless it's a one of a kind thing, another will come up.
Firstly when buying a bog standard VW Golf for my ex-missus, I had no emotional connection to the car at all so was able to tell the dealer what we were prepared to go to on it. He wasn't willing to deal so I left with 'OK, that's all we can afford, but if you change your mind you've got our number". Two hours later he was on the phone wanting to deal at our price.
The second time I went to see an Approved Used BMW E46 M3 which had made use of selective photography - the interior was abysmal. This was in the days before standard photo angles and I was really disappointed especially having driven 50 miles to see it. I was minded to complain to the DP about it being far from 'approved' standard, and about to stomp off in a hissy fit.
The salesman gave it the old "sorry about that, why don't you have a look at this low-miler we've got on the ramps, just come in this morning" ....it was on the ramps, they got it down for me to view on the basis that it needed a bit of prep. I bedrudgingly took a look since I was there and was instantly like a doey-eyed puppy, it was the exact spec I wanted, well over my budget, but I fell in love on the spot. We wangled a bit and struck a deal there and then, although he probably pulled my trousers down on it because I paid much more than I had gone there intending to do so ....Doh!!!
That said, I've owned that car for 13yrs now as my daily, and still absolutely love it. There are 80k more miles on it and my interior is still in a far better state than the one I originally went to see!
The salesman and dealership are not your friends, remember that at all times.
Despite the warm handshakes and smiles their sole ambition is to part you from as much money as possible.
I'm sure the car sales here in the US are much the same as anywhere else.
https://www.youtube.com/watch?v=rwOcAHTH4Os
Despite the warm handshakes and smiles their sole ambition is to part you from as much money as possible.
I'm sure the car sales here in the US are much the same as anywhere else.
https://www.youtube.com/watch?v=rwOcAHTH4Os
I have been in car sales for 15 years. To get a good deal, you simply have to do your research before entering the dealership. Know what car you want, research your PX price through Autotrader, WBAC and others and look at what a fair price is on the car you want.
Once you know what a fair deal should be, if you find the car you really want, make an offer that surpasses that to the dealer. Do this after your test drive, make sure you are happy with the car etc.
For example if your car is worth 20k and the car you are buying 40k, and both are fair accurate prices, where £20000 to change would be a fair deal, simply say I've got £15000 to spend plus my car and that's it. Tell them you are happy to put a deposit down today and ask when you can collect it. If they know you are serious, the dealer will do all they can to win your business, and will reduce their car / up your PX value to the maximum they are willing to go to.
If the end result makes you happy, leave your deposit, if not, walk away and carry on looking elsewhere.
Once you know what a fair deal should be, if you find the car you really want, make an offer that surpasses that to the dealer. Do this after your test drive, make sure you are happy with the car etc.
For example if your car is worth 20k and the car you are buying 40k, and both are fair accurate prices, where £20000 to change would be a fair deal, simply say I've got £15000 to spend plus my car and that's it. Tell them you are happy to put a deposit down today and ask when you can collect it. If they know you are serious, the dealer will do all they can to win your business, and will reduce their car / up your PX value to the maximum they are willing to go to.
If the end result makes you happy, leave your deposit, if not, walk away and carry on looking elsewhere.
drr1 said:
I have been in car sales for 15 years. To get a good deal, you simply have to do your research before entering the dealership. Know what car you want, research your PX price through Autotrader, WBAC and others and look at what a fair price is on the car you want.
Once you know what a fair deal should be, if you find the car you really want, make an offer that surpasses that to the dealer. Do this after your test drive, make sure you are happy with the car etc.
For example if your car is worth 20k and the car you are buying 40k, and both are fair accurate prices, where £20000 to change would be a fair deal, simply say I've got £15000 to spend plus my car and that's it. Tell them you are happy to put a deposit down today and ask when you can collect it. If they know you are serious, the dealer will do all they can to win your business, and will reduce their car / up your PX value to the maximum they are willing to go to.
If the end result makes you happy, leave your deposit, if not, walk away and carry on looking elsewhere.
A £5k difference in cost to change? In my experience the dealer thinks you're taking the mick and you never hear from them again. Once you know what a fair deal should be, if you find the car you really want, make an offer that surpasses that to the dealer. Do this after your test drive, make sure you are happy with the car etc.
For example if your car is worth 20k and the car you are buying 40k, and both are fair accurate prices, where £20000 to change would be a fair deal, simply say I've got £15000 to spend plus my car and that's it. Tell them you are happy to put a deposit down today and ask when you can collect it. If they know you are serious, the dealer will do all they can to win your business, and will reduce their car / up your PX value to the maximum they are willing to go to.
If the end result makes you happy, leave your deposit, if not, walk away and carry on looking elsewhere.
RipRideRocket said:
drr1 said:
I have been in car sales for 15 years. To get a good deal, you simply have to do your research before entering the dealership. Know what car you want, research your PX price through Autotrader, WBAC and others and look at what a fair price is on the car you want.
Once you know what a fair deal should be, if you find the car you really want, make an offer that surpasses that to the dealer. Do this after your test drive, make sure you are happy with the car etc.
For example if your car is worth 20k and the car you are buying 40k, and both are fair accurate prices, where £20000 to change would be a fair deal, simply say I've got £15000 to spend plus my car and that's it. Tell them you are happy to put a deposit down today and ask when you can collect it. If they know you are serious, the dealer will do all they can to win your business, and will reduce their car / up your PX value to the maximum they are willing to go to.
If the end result makes you happy, leave your deposit, if not, walk away and carry on looking elsewhere.
A £5k difference in cost to change? In my experience the dealer thinks you're taking the mick and you never hear from them again. Once you know what a fair deal should be, if you find the car you really want, make an offer that surpasses that to the dealer. Do this after your test drive, make sure you are happy with the car etc.
For example if your car is worth 20k and the car you are buying 40k, and both are fair accurate prices, where £20000 to change would be a fair deal, simply say I've got £15000 to spend plus my car and that's it. Tell them you are happy to put a deposit down today and ask when you can collect it. If they know you are serious, the dealer will do all they can to win your business, and will reduce their car / up your PX value to the maximum they are willing to go to.
If the end result makes you happy, leave your deposit, if not, walk away and carry on looking elsewhere.
Many years ago, I was virtually booted out of a dealership for trying to start negotiations at £12k on a £13250 car.
ukwill said:
My thoughts on this are:
Be prepared to walk away.
Unless it's a one of a kind thing, another will come up.
Yeah this, works every time, unless you are being totally unreasonable of course, walking away is the best incentive you can give any salesman to do a deal, unless of course it's a very rare special car. Be prepared to walk away.
Unless it's a one of a kind thing, another will come up.
Gone are the days of getting thousands off or at the least many hundreds; a few hundred max, if you are lucky.
If you go in saying "this is what I can afford", chances are you will either be shown what you can actually afford or the dealer will be pissed off that you have wasted their time on a car that you can't afford... plus you will have wasted your time too!
If you go in saying "this is what I can afford", chances are you will either be shown what you can actually afford or the dealer will be pissed off that you have wasted their time on a car that you can't afford... plus you will have wasted your time too!
HTP99 said:
Gone are the days of getting thousands off or at the least many hundreds; a few hundred max, if you are lucky.
If you go in saying "this is what I can afford", chances are you will either be shown what you can actually afford or the dealer will be pissed off that you have wasted their time on a car that you can't afford... plus you will have wasted your time too!
Agreed. If someone came to me wanting £5k off because it’s what they can afford then they’d very politely get told it’s not the car for them. If you really have done your research beforehand as the poster above talks about, you should be looking at the right car at the right price in the first place and be within spitting distance of the money you want to spend right away anyway. If you go in saying "this is what I can afford", chances are you will either be shown what you can actually afford or the dealer will be pissed off that you have wasted their time on a car that you can't afford... plus you will have wasted your time too!
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