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Car Guide 2006    

Buying experience

  What to look for and look out for when buying a car.
5 crucial steps to a bargaining win

You've done your homework, identified the perfect car and gotten your financing lined up. Think you're ready to walk into that dealership?

Think again.

Unless you're prepared to pay more money than you need to, it makes sense to give some thought to the negotiation process, as well.

Not only is negotiation a skill that anyone can learn, but it is something that everyone does in one form or another. "When a child is born, the child realizes that his survival is dependent on the parent," says Gerard I. Nierenberg, author of 20 books on negotiation and founder of the Negotiation Institute in New York. "The child begins to negotiate with his parents and his parents have to negotiate with him."

Getting what you want
The key to getting what you want is to negotiate effectively, which you can do by keeping in mind these easy-to-learn strategies.
Steps to successful bargaining
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Plan to succeed. Before going into any negotiation session, it's important to consider your goal. There is something you would like to gain through the negotiation process, and you have to figure out how to convince someone to give it to you. If you go into the negotiation process thinking you'll never be able to talk the salesperson down low enough, you won't have the confidence needed to see you through. On the other hand, if you go into the negotiation process expecting to take advantage of the salesperson, you might not end up getting what you want either. Instead, look for a win-win solution, says Nierenberg. Determine from the outset that both parties will come out winners in the end.

Be prepared. When it comes to successful negotiation, never walk into a situation blindly. Don't just know which options you want your car to have, know how much each option is worth. If you're interested in a particular make and model, do some comparison shopping to see what prices are being offered by various dealers. Another way to find out such information is to check the Internet. "The Internet has opened up so many opportunities to make knowledgeable consumers out of us," says Jim Thomas, author of "Negotiate to Win."

"You can find out the lowest possible price across the planet on a given item with five minutes of work," Thomas says. The more information you have, the more comfortable you'll feel haggling over the price. Not only that, but the salesperson will immediately pick up on the fact that you know what you're talking about and he or she will be less likely to try to get more from you than the car is worth.

Leave wiggle room. When making an offer, never start with the price you want to pay. A good negotiator rarely accepts the first offer, so assume that a salesperson is going to counter your offer with a price that is higher. "If you're planning on spending $500, don't open at $500. It's much better to open at $300 or less to give you room to negotiate," says Thomas.

-- Posted: Aug. 1, 2006
 
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