http://www.milliondollarjourney.com/confessions-of-a-car-salesman.htm
The full article is here: http://www.edmunds.com/advice/buying/articles/42962/page003.html
Things I fell for or would have changed.
- I started feeling as though I could lose the car if I set my price too low - bullshit. The car isn't going anywhere. I don't know exactly the point in the negotiations where I was starting to feel as though I might miss out on this car, but some time in the negotiations I started to get possessive and didn't want to lose out on the car.
- Have a frim idea of what your trade in is worth. Use this number in your negotiations. I got lost in the numbers and started trying to do quick math to come up with what my price point would be. In the end, I felt like I missed the mark.
- Everything is negotiable. This is cliche, but in retrospect each of the factors can effect the total dea - car price, trade-in value, and downpayment.
- If financing, come in with something in hand. I wish I would have done some research on financing options available. I don't feel like I got shorted here, but I just wish I had something in hand to compare.
- Have some comparable cars in hand and ready to use as leverage. This would have helped to back up my threat to walk away.
- Look for anything that may indicate the car needs to be discounted and act as though these are big deals. Nothing on the car I bought really bothers me in the least, but if I would have commented on a lack of rubber floor mats, or a small scratch near the trunk it would have given me more leverage.
- Be willing to walk.
- Get excited about the car after walking away. I feel Lauren and I got excited about the car spot on. We should have built the excitement outside the dealership and come back later when that had cooled off.
Here's another a great video about how to buy a car.