How to Negotiate $5000 Off a Car

When it comes time to buying a car everyone wants to pick up a bargain. One of the best things about buying a car is there is room for negotiation. Buying a car can be a daunting experience especially when it comes to negotiating the price of the car. However having the right strategy could potentially lead you to negotiating thousands off the advertised price of the car.

How much do you want to negotiate off the price of a car? $1000, $2000? More? Shop for Cars has put together the complete guide for negotiating the price of a car and how you can negotiate $5000 off the price of a car in 2024.

Let’s get into it.

Research, Research, Research

Before you even consider stepping foot into a used car dealership you need to arm yourself with as much knowledge about the car you are looking to buy as possible. Knowledge is power and is the only way that you will be able to negotiate any type of money off the advertised price of the car.

The first thing that you need to do is find comparative sales of the car that you are looking to buy, see how much that car is selling for an compare that to the advertised price of the dealership that you are looking to buy from. Compare kilometres driven, features and the like. Take screenshots and print out prices to present to the dealership. If you can find a like for like car that is $3,000 - $5,000 lower at another dealership you can use this to negotiate the price of the car down with the dealer that you are looking to buy from!

Be Realistic

There is a big difference between being realistic and being straight out silly. One of the biggest mistakes that so many car buyers in Australia make when negotiating with a car dealer is offering a silly price that is much lower than what the car is worth. A dealer will see through it and will often not want to proceed further because they may consider you to be a time waster.

This is where point number one becomes so important, make sure you research and understand what is a fair market price and prepare yourself accordingly to achieve that price.

Timing Is Key

This is arguably the most important tip, when it comes to buying a car, timing is key. The only way that you are going to be able to negotiate thousands off the price of a car is by choosing your time wisely.

What are the best times to buy a car? Try to visit a dealership towards the end of the quarter of a year, towards the end of financial year or at the end of the year. These times are typically when dealers offer promotions or try to sell their stock to meet key sales objectives. In order to meet KPIs many dealers may be more inclined to negotiate thousands off the price of a car.

Get Pre-approved for Car Finance

This point may surprise you! Getting pre approved for Car Finance is a strong negotiation tactic and often helps you buy a car for thousands more than the advertised price.

Think about it, if you are only pre approved to buy a car at a certain price point but the car that you are looking at is slightly more expensive you can present your pre approval documents to a dealer, if they are under a tight deadline they may be inclined to sell the car to you for a few thousand less to meet your finance arraignment and to get the car sold!

Don’t be afraid to walk away

The best negotiation tactic when it comes to buying a car in Australia is not being afraid to walk away. Selling cars is an extremely competitive industry. Think about it, in any one suburb there may be multiple dealerships, all of which are competing against each other for your business.

If a car dealer is unwilling to negotiate with you, don’t be afraid to walk away. Ensure you pass on your contact details but walk away. The fear of losing a potential sale can and often leads to a dealer calling later to give you a better deal which is often a few thousand off the advertised price.

Be Patient and Persistent

Buying a car is a huge financial investment, never go with the first choice. Be patient and search around for the best deal. Ensure you get multiple car proposals from multiple dealers. Once given you may be able to leverage them against one another to get a better price. It may take you a bit longer but if it means saving you upwards of $5000 it’s well worth it.

Seal the Deal in Writing

Nothing is sealed until it is in writing. Once you agree on a price, ensure that you get that in writing. If it is not in writing it is not confirmed. Always ask the seller to provide the price in writing on an offical sales contract.

Final Word,

Negotiating $5000 off the price of the car that you are looking to buy involves having a strong plan and arming yourself with as much knowledge as possible. By following the tips presented, you may be able to negotiate thousands off the price of the car that you are looking to buy.

We hope you enjoyed reading this article. To read more articles like this, please visit the Shop for Cars latest news page here.

About Shop for Cars,

Shop for Cars is Australia’s first car dealership-only online classified. Shop for Cars brings you the best quality new and used vehicles from trusted motor dealers Australia wide. Shop for Cars currently has over 12,500 cars listed for sale all from licensed Motor Vehicle Dealers ONLY.

Click here to begin your search.

DISCLAIMER: This is all based on opinion and does not consist of legal or professional advice. Please research and consult with all relevant parties prior to making a buying decision.