How to Negotiate Car Prices
While in some cultures, negotiating is simply a way of life, in the United States it often leaves people feeling anxious, overwhelmed, and generally icky, even in the best of circumstances-and the current car market is the furthest thing from the best of circumstances. With a car shortage that seems to be getting worse, and prices on both used and new cars skyrocketing, it takes some special skills to find the car that best suits your needs, while still ultimately saving a buck on it, too.
The Consumer Price Index finds that used car prices have increased by a whopping 21 percent since April of 2020, with much of that increase in the last few months. New cars are in high demand as well, with cars like the popular Kia Telluride selling for $5,000 to $10,000 or more above Manufacturer Suggested Retail Price (MSRP) across much of the country. But hope is not lost! There are proven negotiation strategies to help you whittle down that car price before buying.
When I purchased a new car-a 2021 Subaru Forester-in early May, these strategies saved me over $2,000 off MSRP, increased the value of my trade-in by $1,000 and scored me a free synthetic oil change. By implementing a few, simple tactics, you can get rid of any anxiety you may have about negotiating your car purchase-and save some money in the process.
The car market right now is a tough one, but armed with these tools, you're sure to find a car you love, and settle on a price point you can stomach.