6. Practice the Art of Negotiation
Now that you’ve searched for used car prices at competing dealers, it’s time to enter the negotiation stage.
According to Goodnow, you should make the first move. “In general, it’s best for you to anchor the parameters of the negotiation by making the first offer,” Goodnow said. “Dealers will generally not want to bid against their own prices, so don’t be afraid to put in an offer at or below the dealer invoice price.”
He also said buyers should be prepared for some back-and-forth before the car dealer reaches his final offer. “It’s nice to think that a dealer will cut to the chase,” Goodnow said. “But the reality is most won’t. It’s too ingrained in the car-buying culture.”