Tag Archives: Shopping
If anyone knows about bargain hunting, it’s the Financial Engineer over at Engineer Your Finances. Over the holidays, F.E. was in the market for a new car and decided to try out my free guide on how to buy a car.
After his purchase, he was kind enough to circle back and share his thoughts with us.
“Find the Best Car Price” lives up to its website’s name. We didn’t just beat MSRP or Factory Invoice, but got our new car under Dealer Cost! Within a few short emails, we shaved $4,000 off our purchase.
Initially skeptical about this email process, I was amazed with how easy it was to negotiate down the costs. We were anticipating much more dealer resistance – no one should subject themselves to the unnecessary pressure tactics again!
One of my own website’s pillars is knowledge. Much of financial success & security is about learning what’s out there and educating yourself as much as possible. With all the information available on the web, dealers can’t hide their profits anymore. Protect your own profits and save thousands using this negotiation technique.
Three farmers are selling the exact same apples for $2.00, 2.50, & $4.00 per pound. Which farmer are you going to buy from? Don’t let dealers take you for a ride and get the price you deserve using “Email Price Reduction”.
How do I know we got a great deal? After our purchase we looked at the “used” counterparts and couldn’t find anything cheaper that didn’t have 30,000+ miles already on it.
Thanks for the feedback F.E.! It’s always fun to hear how people saved big just by sending a few emails.
If anyone else wants to share a success story, please send it my way.
Everyone wants to get a deal on a car, but some people are willing to put in a little more effort than others. Let’s look at the different types of car buyers and see where you fit in.
Types of Car Buyers
- The Fabulously Wealthy. We’re talking about Vincent Chase from Entourage wealthy. You walk into the dealership, pick out a Maybach and pay the full sticker price without batting an eye. You ignore advice because your time is just too valuable to waste negotiating.
- The Average Joe. This is the category most people fall into. You know that you’re not supposed to pay full price. You do no car research, decide you like the look of a Toyota Highlander, and throw out a number. Eventually you buy it when the salesman knocks off a whopping $200 (but you could have saved $2000). You leave feeling like a winner, not knowing you left money on the table.
- The Savvy Shopper. You realize that getting car price quotes online from multiple dealerships will allow you to get a better price than negotiating at the dealership. You probably got a pretty good deal, but you didn’t bother to negotiate. In fact, you may not even know that Internet prices are still negotiable.
- The Hammer. Like the Savvy Shopper, you got price quotes online. But you took it a step further. You dropped the hammer and told each of the dealerships that you were going to take the best offer you could find, and you’ll give them each a chance to beat your best price. You don’t mind driving an hour out of your way because it could save you several hundred dollars more than your next best offer. You are a true negotiator!
So are you a Hammer? Do you want to be? It’s not that hard. Learn how to buy a car and that spending a couple hours to send a few emails could save you a couple grand. And feel free to send me a thank you note or gift basket (my wife likes chocolate 🙂 ).