Did you know that a car’s sticker price is negotiable? If you’ve researched prices on the Internet, you’re probably surprised to learn that they usually differ from what’s stuck on cars’ windshields at Toronto dealers. This gives you negotiating power. Haggling on car prices takes skill, but once you’ve mastered it, you’ll find that it’s worthwhile.
Be firm with the kind of car you want
This will make it easier for you to stick to your decision once you’re at the dealer. Practicality should be your primary consideration when choosing a car. For example, if you simply want something to transport to and from work, small cars would suffice; on the other hand, consider larger vehicles if your family is fond of long vacations. If you want to keep more dollars in your pocket, buy used cars, as their value is reduced by the number of years they’ve depreciated.
Get a good financing deal
First, make sure you have a good credit score. It’ll be easier to get loans with lower interest rates this way. Otherwise, many dealers offer financing services for people with poor credit scores.
Understand car price lingo
You may hear the words “retail price,” “asking price,” and “book price” from your dealer. The retail price is also known as the sticker price, and is usually the highest price the dealer can charge you. The asking price is essentially the retail price with room for negotiations. The book price is based on guides such as the Kelley Blue Book.
Use the trade-in price as your starting point when you haggle with dealers of Toronto used cars. Trade-in price is the value the used car’s previous owner received from the dealer, usually in exchange for a new car. Add at least $500 to the trade-in value as compromise. If you’re told that the retail price is based on the book price, you can counter with values adjusted for factors like the car’s overall condition, such as the True Market Value (TMV) conveniently found in the Internet.
Understand the car price’s breakdown
Look for dealer invoice information on Toronto used cars online. Ask for any incentives, like rebates, that can be used to lower the cost on your desired car. Subtract these from the dealer’s retail price, and use the difference to negotiate; the TMV usually takes these into consideration.
To successfully negotiate with dealers of Toronto used cars, don’t divert from the needs and requirements you set. Log on to ehow.com/how_4552721_effectively-negotiate-car-dealers-save.html for more information.
How to Negotiate with Toronto Used Car Dealers