Buying a new car is not an easy process, especially if the buyer is eager to get exactly what he wants and not pay more than he should.
If the buyer’s goal is to get the best car at the best price, then the seller’s goal is supposed to be to help the buyer in that, but the reality says: the seller always seeks to achieve the maximum profits possible.
In order for the buyer to succeed in reaching his goal, he must know the strategies used by car sellers in order to get as much money as possible from him, starting from dishonest negotiations to convincing the buyer to buy a lot of luxuries that he does not need, and the following are the most important methods used by car sellers In order for the buyer to pay more money.
The first method: Do not mix the cards
Mixing papers in negotiation, where sellers mix many negotiation points with each other, such as price and payment system, and often ask the buyer about the value of the installment that he can pay monthly.
This method allows the seller to present a good and acceptable offer to the buyer in one area, while luring the buyer to make greater concessions in other areas, so that the buyer will lose in the end.
To avoid this trap, the buyer must negotiate each item separately so that he negotiates at the beginning, for example, the cash price and the best possible price. on her.
This price can be found on many Internet sites specialized in this field.
However, the official price at which the showroom got the car is not what he actually paid, as he may have obtained special discounts from the manufacturer, which means that the buyer has a greater opportunity to negotiate the price.
The buyer must clearly declare that he will visit other exhibitions and that he will buy from the exhibition that offers him the best price.
Once the lowest possible cash payment rate is reached, you can move on to negotiating the installments, whether in terms of the interest rate, the payment system, the grace period, and so on.
Misleading Incentives
The second method is to provide misleading incentives such as canceling the interest rate and granting a grace period for the first year.
Such an offer may seem tempting at first glance, but the truth is that it can increase the real cost to the buyer.
After the first year, the buyer will be required to start paying the monthly installments for the year in which they are overdue, and possibly at a higher interest rate.
Meaning that the buyer will discover at the start of the payment that it is much higher than the price at which this car could have been purchased, and in the case of accepting such an offer, it must be ensured that the value of the monthly installment will not be increased so that the payment is made within the same time period specified from the beginning, as well as not to increase the price Interest on the remaining years.
The third method: the leasing game
Many of those who resort to renting a car instead of buying it imagine that the monthly rent value announced by sellers in exhibitions is not negotiable.
This is not true at all, as the determination of this rent is based on the advertised price of the car without any discounts, and therefore it can be negotiated as if it was a matter of buying the car and not renting it.
In order for the renter to get the best offer he has to start negotiating as if he were going to buy the car and after reaching the final price he can talk about renting it according to this price.
There are other negotiating points in the case of renting, such as the rent payment system, the maximum annual mileage, and the choice to purchase the vehicle at a later time.
As in the case of selling, there is competition between agents by offering better rental offers.
Beware of increases
Fourth method: financing
The car sellers are trying to convince the buyer to rely on them to provide the necessary bank financing to buy the car, which brings them an additional profit by increasing the Murabaha price established on the price of the car above the price that can be obtained directly from the bank.
Therefore, the buyer must determine the method of financing the purchase of the car and the acceptable interest rate before going to the car showroom, so that the interest rate offered by the seller can be compared with the price that you can obtain directly from a bank or other financing institution.
The buyer must also determine from the beginning his creditworthiness and financial situation because it can affect the interest rate that he can get.
The fifth method: Exaggerating the luxuries
The sellers in car showrooms focus on convincing customers to get as many luxuries and additional items as possible from buying the car, which means paying amounts for things that the customer may not need.
In order for the sellers’ attempt in this direction to succeed, they initially offer a low price for the car, and then carry it with a large amount of unnecessary luxuries with exaggerated prices, so that the end result is paying a higher price for the car than it should.
No Extra Stuff
Method Six: Sell Extra Stuff.
Sellers try to persuade the customer to buy additional tools and items such as anti-rust materials, protective car cover or paint polish.
But you should not get these things from them because they are usually offered at very inflated prices.
Seventh method: Increase the warranty period.
At some point in the sales process, the CFO will try to convince the buyer to pay an extra amount in exchange for an extension of the vehicle’s warranty period.
It is not recommended to fall into this trap unless the buyer is ready to keep the car for a long time after the process of frequent breakdowns and maintenance begins.
In fact, most car manufacturers offer sufficient warranty periods, up to an average of three years or 60,000 km, and the warranty period for the engine is often longer.
It is also possible to obtain a longer warranty period from the manufacturer directly, which is a better option than obtaining it from the seller and at a lower cost.
Some sellers may claim that it is required to increase the warranty period because the banks demand that, but the truth is that most banks that finance car sales in installments do not ask for a warranty period longer than the original period provided by the producing companies.
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