This article is brought you by Vietwheels.com, Vietnam’s leading online marketplace to buy and sell cars.
The information in this article does not constitute as financial or commercial advice or any other sort of professional advice, and you should not treat any of the content as such. A qualified professional should always be consulted before making any financial or commercial decisions.
Negotiating to buy a car may seem daunting at first, but it’s a skill you can develop and a skill anyone can learn — and it’s one that can potentially save you a lot of money whether you’re buying new, used, privately or from a dealership. The tips in this article are brought to you by Vietwheels.com and we hope this article will helps you when negotiating with car sellers.
1. Do your research first
Knowledge is your best resource for getting the best deal. Knowing what other cars like the one you are bargaining over sell for is key to talking down a price. You can do this by going to an online car marketplace like Vietwheels.com to research and compare prices and car models on the market. This will give you an idea of the average price to pay for the car you’re seeking to purchase understanding this will help you make realistic expectations.
2. Work with a set budget and range
Know what you can afford. Part of the reason for doing your research as the first step is to help establish your budget and set your limits. If you intend to use cash, then the amount you have available will dictate your negotiating room. Know your limits and walk into the negotiation knowing what you’re willing to pay and avoid deals which are substantially over your budget.
3. Speak to multiple car dealerships
Don’t just rely on what one dealer tells you, shop around and see if you can find a better deal elsewhere. You should choose at least two or three dealerships to visit and try and visit all of them before deciding.
The Vietwheels team have done the hard word for you and hand-picked the most reputable and reliable car dealerships across Vietnam in our marketplace to help you find the best price and quality vehicles across our wide network of car dealerships we work with.
Once you know which car make and model you desire, create a shortlist of specific cars on sale and save the URLS of the cars that seem most appealing and meet your specifications. After preparing this shortlist, gather as many details about the car as possible to consider and compare.
Many factors influence the price of a car, so make sure you know everything there is to know. Things like higher-than-normal odometer readings and accident history can reduce the value of a car, while add-on features like winter tires and new brakes can increase its value.
When you’re ready to inspect the cars, speak with our friendly consultants at Vietwheels who will help you check if the car is available at the dealership, arrange a private inspection and test-drive and try and help you bring down the price by speaking to as many car dealerships across Vietnam to source the best price and model for you.
4. Be flexible with your negotiating
When a lower purchase price is the goal, you don’t want to go in with the wrong approach. Come off as too demanding, and the dealer may not be willing to make any concessions in your favour. Go in too soft, and they may see you as a pushover.
When you speak with the salesperson and present your offer, be firm but polite. Let them know that you’ve done your homework and you have an idea of what the car is worth. Don’t let them try to steer the conversation off-course; stay focused on the issue at hand.
Negotiating is a fine art that is not always easy especially when it comes to buying a car. This is why you should speak with a Vietwheels consultant first, so that they understand your requirements, recommend the best models and prices and assist you with the negotiations with our vast network of dealership connections as well as access to wholesale discounted pricing.
5. Be polite to the seller
Be polite to the car seller since most reputable car dealerships respect professionalism and politeness. Negotiating does not mean being hard or rude, you are likely to go further if you are polite, respectful and discuss things with a smile on your face. Also avoid giving the seller a very lowball offer which is significantly below their asking price. A lowball offer will likely insult the seller may not take you seriously and they may not want to negotiate with you any further.
6. Timing is everything!
When it comes to buying anything substantial, timing is essential. Like any business, a car dealership has targets they want to hit by the end of each month and especially the end of financial year. This means that if you’re clever with your timing (and a little lucky), you could pick up a great deal as they look to hit their sales goals.
With new car sales revving up and dealers anxious to meet sales targets, this is when the Vietnamese car market gets pleasantly competitive. Deals abound, including offers for free extended warranties, window tinting, a full tank of fuel and other extras. Advertising is boosted, prices are cut and buyers reap the benefits.
7. Ask the seller to sweeten the deal
The best negotiations are win-win deals. There’s a healthy give-and-take involved, and sometimes that goes beyond the price tag. If a seller doesn’t want to budge on price, you can get a little creative and ask the seller to throw in something extra, so you’ll agree to pay them what they want.
If you and the seller take the car to a mechanic who finds a problem with the car — maybe it needs new brake pads, or the tires are worn down — that’s something you can use to either negotiate a lower price or sweeten the deal.
Also, ask if there is any cashback if you go ahead with the purchase. When manufacturers want to promote specific makes and models, they might offer the dealer a rebate incentive to push those vehicles a bit more. This is also called ‘dealer cash’. It’s always worth investigating car websites to try and find out if your desired car carries some dealer cash.
Negotiating be time-consuming and tedious, but at the end of the day, you’ll thank yourself if your negotiation efforts allow you to purchase the right car at the right price and can save you lot of money. Don’t forget to engage a Vietwheels consultant who will help you negotiate on your behalf and get you access to the best dealerships, car models and prices in Vietnam.
We hope that you found this article useful to help you negotiate effectively when purchasing a car. If you found this article useful, please visit our other News and Reviews. On behalf of the VietWheels team we wish you all the best in finding your next dream car in Vietnam.
