Car Negotiation 2: Build a Deal That Is Good For All
Build a Deal That Is Good For All
Set yourself up for success in car buying by learning the system your partners work in. This video explores strategies to make a great deal for both parties, and know when to walk away.
Skills:
1) Know the system.
2) Discover what is valuable to them.
3) Understand your limits.
4) Define a fair profit for them.
Video time code:
Part 1
0:54: Key skills: Building a deal that is good for all parties.
1:52: How does the system work.
2:50: Don’t be desperate.
4:21: Use sales target dates to your advantage.
5:54: Use volume incentive bonuses to your advantage.
7:45: Use lender incentives to your advantage.
8:40: Profit makers summary.
9:56: Vehicle price.
10:24: Loan price.
10:53: Service price.
12:17: Threshold bonus.
13:10: Negotiating where profit is given to your partner.
13:54: Dealer type: high volume, low cost.
15:12: Dealer type: low volume, high cost.
Part 2
17:08: Empathize with partners rock bottom price.
17:48: Dealer’s cost.
18:32: Dealer’s added value products.
20:40: Features you add to the vehicle that increases the cost.
23:11: Define how much profit your partner should get in this deal.
25:03: Summary: Define a “fair deal” range. Define where they would be silly to sell it to you, and where you would be silly to buy it from them.
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