Negotiating

[Kushina]

So being raised in the US and having never really been to a third world country where negotiating takes places I suck at it.

However I need to learn this sorcery as I've seen it save people alot of money, so recently I've looked at a used lexus and I'm familiar with cars and I've found issues with the car, now I need to know how to negotiate this car, he's priced it at $3500, when I asked him how much is he looking to sell the car for he on his own said "but I'll sell it for $3200".

Later I came to look at the car, the body and bumper have scratches/scuffs all around, some are easily visible. The gaskets in the engine bay are leaking, valve cover gasket at the least, I saw two more that leaked as well but I have no clue what they were. The car drove fine and when I checked it's computer, nothing came up as bad, all the drive cycles passed without issue.

I have a strong feeling I can negotiate this guy, to at least $2500. As he was just handed down an SUV from his kids.

 

[mandrake99]

Make him an offer of cash for $2500 and let him see the money.

 

[KlokWyze]

I've turned down offers that I would normally accept because I simply didn't like the way a person would approach me. Rude unlikeable people generally get shittier deals across the board.

Set a ceiling and stick to it. You can use those problems as talking points, but at the end of the day the seller has to agree to the price. If they are desperate to get rid of it or something, they may take whatever. Negotiations always have so many factors. Situations are fluid. It's only something you get good at with practice.

 

[dullard]

1) You need to know the true value of the item you want. Sure, you can negotiate with me to buy my crisp dollar bill, I'll drop the price from $10 to $5! You just knocked the price in half! But you still just way overpaid. Or you can offer me 25 cents for it and I'll laugh at you and won't consider any offer you come up with in the future.

2) Both sides need to think they got a deal for the deal to go through. If you offer me only $2 for my dollar bill, that is forcing me to take a whopping 80% off my price. That doesn't sound good to me (even though logically it still is good to me). I might cringe at it and walk away. You need to somehow convince me not to take 80% off my price, but that instead I'm getting a great deal when you pay me $2 for my one dollar bill. This doesn't mean you need to pay a different price, but you need to word it in a way that I win. If I won't take a 80% cut, maybe I'll take an offer of $1 over sticker price (even though those are the same exact thing one makes it sound like I win and one makes it sound like I lose).

3) Some deals aren't meant to be. If the best you can do is to talk me down to $2 for that dollar bill, then you need to walk away. There are better ways for you to get that one dollar bill. Such as walking into a bank and asking for change.

Basically if your heart is set on that Lexus, then you won't walk away. The seller will now that and will screw you. You need to be TRUELY willing to buy a different used car. On the flip side, if the seller doesn't take a valid honest offer from you, then leave. You can leave them your number if you think they'll change their mind, but physically get up and go home.

I don't know the details of that specific vehicle, but a rule of thumb is that you can always get 10% off a used car price. So, you should be able to get to $3150. That doesn't mean that it is worth $3150 to you or the seller though. Only if you know for a fact that it is worth a certain amount should you offer that amount. And unless you are very lucky or the car really isn't worth much, you won't get 30% taken off like you want with a $2500 offer.

 

[runzwithsizorz]

Make him an offer of cash for $2500 and let him see the money.

It's an old tactic, that sometimes works especially if you can get them to touch it. Don't tell them how much is in the stack of bills that is your offer you put on the table/desk, in front of them, make them count it. So if they want $2500, you lay down $2000. If they don't take it, WALK. Let them stew for awhile, then call them and say you found another $250, but that"s it.
There's a good chance they'll take it.

 

[SearchMaster]

First off, you're buying a ~$3000 Lexus and expect it to be scratch-free?

Anyway, if it's not worth $3200 to YOU (it's YOUR money after all) and only worth $2500 to you, then that's what you offer. If he doesn't accept, then you move on until you find the right car that's worth what you'll pay.

If he's giving you a good deal at $3200, don't beat him up too much and waste everyone's time. As a seller, there's nothing worse than someone whose only purpose is to squeeze every dime out of you they can and try to "steal" it from you. His advertised price of $3500 was at least interesting enough to get you to come see it so it can't be a ridiculous price.

 

[SamQuint]

Had a friend of mine tell me that a good trick is to use the phrase "would you consider?" As in would you consider $2500? The idea is that you are making the seller think it is their choice and their decision. If you tell them I'll give you $2500 the seller thinks they have lost the power in the transaction and that you are dictating the price. Kind of a simple tactic but he told me he is often surprised by how often it works.

YMMV

 

[child of wonder]

1) You need to know the true value of the item you want. Sure, you can negotiate with me to buy my crisp dollar bill, I'll drop the price from $10 to $5! You just knocked the price in half! But you still just way overpaid. Or you can offer me 25 cents for it and I'll laugh at you and won't consider any offer you come up with in the future.

2) Both sides need to think they got a deal for the deal to go through. If you offer me only $2 for my dollar bill, that is forcing me to take a whopping 80% off my price. That doesn't sound good to me (even though logically it still is good to me). I might cringe at it and walk away. You need to somehow convince me not to take 80% off my price, but that instead I'm getting a great deal when you pay me $2 for my one dollar bill. This doesn't mean you need to pay a different price, but you need to word it in a way that I win. If I won't take a 80% cut, maybe I'll take an offer of $1 over sticker price (even though those are the same exact thing one makes it sound like I win and one makes it sound like I lose).

3) Some deals aren't meant to be. If the best you can do is to talk me down to $2 for that dollar bill, then you need to walk away. There are better ways for you to get that one dollar bill. Such as walking into a bank and asking for change.

Basically if your heart is set on that Lexus, then you won't walk away. The seller will now that and will screw you. You need to be TRUELY willing to buy a different used car. On the flip side, if the seller doesn't take a valid honest offer from you, then leave. You can leave them your number if you think they'll change their mind, but physically get up and go home.

I don't know the details of that specific vehicle, but a rule of thumb is that you can always get 10% off a used car price. So, you should be able to get to $3150. That doesn't mean that it is worth $3150 to you or the seller though. Only if you know for a fact that it is worth a certain amount should you offer that amount. And unless you are very lucky or the car really isn't worth much, you won't get 30% taken off like you want with a $2500 offer.

Great advice, especially #2. Both parties need to feel like they won something in a negotiation.

 

[bruceb]

I would not worry about the scuffs and scratches, cars are going to have them. Be more concerned with how bad and what leaks there are. Some are easy even for a DIY mechanic to fix. Some are not. And depending on where the car is at, check the underbody for rust.

 

[TheGardener]

When you looked over the car did you have a mechanic with you? If not, I suggest that you ask permission to drive the car to a mechanic for a look over.

I've never bought a used car, but I recently sold an 11 year old one. A mechanic's inspection revealed other problems than those I already knew about. The buyer got everything in writing. We negotiated a price based on how much more he'd pay to be able to pass a state inspection. Though I didn't give him 100%. So I took less money, but the buyer made a good rational for it. Just saying.