Readers and viewers of “The Lord of the Rings” know that saying the dreaded word “Ringwraiths” brings fear, even terror, into the faces of worthy people, hobbits, elves, even wizards. It seems like the word “negotiation” brings out a similar reaction in a lot of people. It really shouldn’t.
In most cultures and countries, negotiation is as fundamental as breathing. Even here in the US, most houses are sold in a negotiated transaction. But put a car buyer in a dealer showroom, and the car buyer feels out-gunned, out-informed, and helpless.
That’s too bad. People who negotiate when they buy a car save money over people who pay the asking price, over people who pay a “pre-arranged” price, and prepared negotiators save over less-prepared ones.
There are really just three rules to follow. First, be prepared. Know the price range that the specific vehicle will most likely sell for and why, and how much you are willing to pay for the vehicle. Second, be ready to state your price and your reasons. Lastly, and most importantly, be ready to walk away from a dealer and a deal if your minimum price objective is not met.
I tend to walk away from one dealer when I buy a car. But I’ve rarely had to walk away a second time. And I’ve paid a lower price than most people for the cars I’ve bought.
It’s not magic – it’s not even hard to do propranolol pills. Just a little preparation and you’ll be as successful as Frodo.