Purchasing a new vehicle may be the biggest buy you make this year. To be ready, you may draw up a list of questions before time to ask the dealer. However, just as vital is discerning what not to say to a vehicle salesman. He arranges deals every other day and you don’t, which could simply put him at an advantage. Having a good feeling before time for what to say — and what not to say — will assist give you an edge during negotiation? Find a list of what not to say to a vehicle salesperson which will assist save you frustration and darg down the bottom-line price of your new ride.
1. “I so love this car”
Auto dealers know you’ll be willing to pay more for a vehicle you love. Admitting how much you love a car opens the door for them to jack up the price. Just be calm and don’t show emotion. Make it crystal if you are not given a good price, you’re willing to walk away. If a salesperson is not yet sure that you will be signing on the dotted line, he’s more likely to go over some hoops like reducing the price. Else, you have put the scales in his favor instead, and he’ll be confusing of you how the vehicle is a big seller and he can’t take less than the required amount.
Next: Don’t let them know how much you don’t know.
2. “I don’t know that much about vehicles”
This might be a vehicle salesperson’s favorite thing to hear. He may try to show you all the extra features you absolutely need to have, and he’ll be sure to emphasize how much you require the extended warranty. Rather, do your research before time so you already know what you want on the vehicle and whether you really require the warranty. Salespeople will be able to inform if you already have some knowledge about the car and what features make sense for you.
Next: A vital rule about your trade-in
3. “My trade-in seems outside”
If you tell them about how your trade-in is sitting outside, you’ll be asked for your keys. A dealership employee will go out to take a look and assess the value when you’re shopping or negotiating inside. This may save some time, but what if negotiations are not going well and you decide to leave? This could be awkward and have you standing around waiting for your car to come back. Or worse, it could offer the salesperson more time to haggle with you. Rather, hang onto your vehicle keys until you’re further into the process with the salesperson.
Next: Be weary of starting off on the wrong foot
4. “I don’t want to go to the cleaners”
Even when you think all vehicle dealers are crooks, it won’t assist you if you make that obvious. Believe it or not, they’re not all bad – and most of them are doing what they can to eke a living. If you start off on the wrong foot, how much less likely will the dealer be to genuinely want to assist you out? Rather, set the stage with a positive-yet-serious tone and you’ll be in a much better position to negotiate about the vehicle’s price and features.
Next: What not to show about your credit
5. “My credit is not that good”
To start, not withstanding your credit rating, you should only shop around for best interest rate before you set foot in the dealership. If you absolutely must finance through the dealership and you have less than stellar credit, do not ever admit that you think your credit is poor. This might make them think you’ll agree to a higher interest rate.
On a side note, when it has to do with financing with the dealership, ensure the number of years and final buy price on the contract are what you were expecting. (They’ve equally been known to slip in a warranty that wasn’t previously discussed!)
Next: Try saying this and you won’t get a rock-bottom price.
6. “I am paying cash”
If you own enough cash to pay for the vehicle outright, congratulations. Most people do not. More than 84% of people who bought new vehicle in a recent year used financing, according to Consumer Reports. Don’t inform the salesperson too early on you intent to pay cash. If dealers are assuming you’re going to finance the vehicle, they may give you a better price because they’d make up the difference with the in-house financing. Breaking the news to them later in the process could assist you save quite a bit of money.
Next: An Obvious way to show you’re desperate
7. “I need to Purchase a car today”
If you just rushed over to the dealership because your vehicle just died, it might be best not to let the salesperson be aware. This is a red flag you’re desperate to drive off the lot with a new vehicle today — and you will likely end up paying significantly more for it. (If you’re in a crunch for a new vehicle yet don’t want to overpay as a result, you might consider sharing, borrowing, or renting a vehicle for a couple of weeks so you have time to negotiate and make a better purchasing decision.)
Next: Some little words that’ll have salesmen fighting over you
9. “I am a doctor”
If you have a good job with a reputation for high pay, do not tell the dealer what you do. He will assume you’re loaded and can pay considerably higher than the lowest possible price. Both his aim and his manager’s aim is to get more money out of you if they can. Selling vehicles at different prices based on a buyer’s perceived ability to pay is referred to as price discrimination, and it stays perfectly legal. If he never knew what you do for a living, he won’t have taken this advantage over you.