Buzz
When shopping for a car, it's important to expect some back-and-forth. And certain techniques prove more effective than others. A recent survey by Consumer Reports highlighted the best strategies for negotiating a used car price.
The survey revealed that 70% of buyers negotiate when buying a used car, with 83% of them securing a better price as a result. The most successful tactic, by far, was simply asking for a lower price.
So, what’s the most effective strategy for negotiating? It turns out, it’s the direct approach—just asking for a better price. This method worked for 68% of successful negotiators. Other methods, like showing the seller comparable prices from online research or threatening to leave, were successful for 48% and 28% of negotiators, respectively.
It's important to understand that these percentages are relative. For instance, if the walk-away tactic fails, it's likely because the direct approach had already been attempted without success. That’s why its success rate is lower—it's often a final strategy. Nonetheless, the data suggests that simply asking for a better price is often the most effective approach.
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Image courtesy of James.
