Until now, I’ve never known how to negotiate for a car. The car I drove since the day I got my license, a black 2000 Ford F150, is the car I drive today.
In a few months, my wife and I are moving to Chicago. The plan is to sell both of our cars and get a small, late-model, fuel-efficient car (although we want to do a trial run of ZipCar).
Recently, I’ve been reading up on how to negotiate for a car. Ironically, the best tip I received was from the book, The Millionaire Fastlane by M.J. DeMarco (Ironic because I wasn’t reading the book for car negotiation tips, even though the title includes the word Fastlane).
In the book, M.J. explains how he bought his brother a Lexus…
“I researched the car and determined the price I wanted to pay. I walked into the dealership with a cashier’s check and told salesman, “I have a cashier’s check for $44,000 and I want to buy that car. I need a YES or NO”
Twenty minutes later, I owned a Lexus.”
I loved the idea. With M.J.’s method you…
- Save time, since there’s no back and forth negotiation
- Avoid upsells
- Avoid purchasing a more expensive car you didn’t want
As for finding out how much you should pay, I found the below articles from two of my favorite blogs helped:
- How to Negotiate for a Used Car via The Art of Manliness
- How to Buy a Car (Without Getting Screwed) via Bargaineering
How to Negotiate for a Car | Conclusion
Of course M.J.’s method for negotiating a car works if you’re paying in cash. Which if you can’t afford to pay for the car you want in cash, you can’t afford the car.
If you have any tips on how to negotiate for a car, please let me know in the comments. For many reasons, car sales are never dull.