what is your negotiating technique?

Suppose you see a car for sale for $5,500 (hypothetical example, no particular car in mind) being sold by someone (not a dealer) and you think that's a fair price. You are planning to keep the car, not resell it later. You might even keep it until you die.

Do you offer a lower price - e.g. $4,500 - and negotiate upwards? Or do you pay the $5,500 and, by doing so, hope to gain the goodwill of the seller? e.g. maybe the seller will throw in extra parts, FSMs, maintenance tips, his/her youngest daughter (kidding) or whatever he/she has to go with the car.

Just curious to know what everyone thinks/does.

 

I always start low, but try very hard not to offend the seller (which sometimes proves to be virtually impossible)
I figure it doesn't hurt to ask. The worst thing they can say is "NO"

I also figure most people are like me. When I offer something for sale I have a price in mind that I would like to get. When I display it for sale I ask a price slightly higher than what I hope to get. That way when the buyer negotiates the price down he feels like he got a good deal and I'm happy because I got what I actually wanted.

I also only negotiate on things I can afford the full asking price (in case the seller won't budge on their asking price). If it's something that is out of my price range to begin with I don't even bother.

 

If I've got a hunch that the price is set high, in order to compensate for getting haggled down, I simply explain what I think it's worth and why. If the price is fair, I'll pay it. I don't like haggling and cut any negotiations short, if I get the impression that the person showing up is gaming

 

When I sell something on Kijiji (few people use Craigslist in these parts) I try to make it clear that the price I'm asking is my final price. And yet I still get e-mails from morons saying "Hey dude ill give u 250 for ur <whatever>" even if I've made it clear that $500 is my final price. Needless to say, these people are ignored.

But I've paid the full asking price to private sellers for cars/trucks that I thought were fairly valued. OTOH, these weren't highly priced vehicles in the first place ($4,500 and $7,500). I might take a different approach for a car/truck in the $20k - $40k range.

Still have the $4,500 car and $7,500 truck too.

 

I have no interest in earning the goodwill of the seller. Once I buy the car, assuming I do, I will likely never see him again. I'm buying the car and whatever else is listed in the ad. If he has extra goodies to throw in, that's his business, but I don't offer more than I think the car is worth just for the hope that he might have some extras.

I offer what I think is a fair price, minus a little negotiating room. If the seller accepts my offer, or we ultimately reach agreement after some back and forth, that's all the goodwill he needs because I'm buying his freaking car, for pity's sake. How much more goodwill does he need?

As far as people who say their price is "final," I'm one of those who ignore this. The worst that can happen if I make an offer below the so-called "final" price is that I get ignored. I can live with that. But more often than not, the "final" price is anything but, especially if the car has been for sale for a while.

It's a dog-eat-dog world out there.

 

I don't negotiate. If I think it's a fair price and I want it, I'll buy it. If I think it's priced too high, I don't bother contacting the seller. When I list something, I list it at a no haggling, bottom dollar price. If someone tries to negotiate, I go to the next interested party in line.

 

If I think it's a fair price, I'll pay it. I don't have to argue down a few hundred bucks just to convince myself I'm some superior negotiator, it isn't worth the time.

I will say that any "what's your bottom dollar price?" questions get met with hostility if not outright termination of the discussion.

 

I especially get offended if someone hits me with the 'bottom dollar' question before even looking at or driving the vehicle. I once had a '92 Plymouth AWD minivan for $800. It had been damaged on the front door (which I replaced) and had a front-end alignment issue and rear hatch damage (which is why it was $800). It had a rebuilt trans and PTO, lots of new parts on the engine, and the mileage wasn't too high. But every caller was either 'it isn't worth jack' or 'I'll haul it away for free.' That guy, I told him off and made the decision to cut my losses and sell it to Pick 'n' Nose for $350. So, if you are not willing to at least find out why someone wants a certain price, why bother them? It just takes it out of us who try to sell something, to have our balls busted just because you cannot be bothered to hear the other guy's side. If they're full of it, then walk away. But if you find out a bunch of the mechanical issues have already been taken care of but the left rear got hit, and the price asked is fair, let the guy have it. It's only money, not someone's life.

 

This...

and this...

I think in my life I've negotiated cars down less than $1000 total. If I see something and I like the price I'll contact them and if it matches what I see I'll usually just pay it. If I see something that I think is overpriced I'll either skip over it or sit and watch it until it reaches a price I like. If it never gets there then so be it. There is always another car, house, etc. for sale.

As evidenced by my garage and driveway I don't sell very many things, but when I do I list them at what I think is a fair price and usually sell them quickly for asking price.

 

Well jim535, looks like you've gotten quite a response.
So, now I'm wondering what your thoughts are?

 

As others have said, I won't look at a car/truck if it's priced too high. If it's fairly priced, I'll probably continue to do what I've been doing - pay the asking price.

If it's a highly priced item, or unique or somehow rare, and it's hard to figure out what a fair price should be, I might in future try to negotiate with the seller to see what the seller thinks a "fair" price is.

But I have no problem negotiating for lower prices with car dealers. In that case I try to get the lowest price possible. There's always other dealers, and other cars out there.

 

I agree with all the above, the 6 cars I have sold to private parties have been a fair price and its never been negotiable, and only 2 have asked if that my lowest number., which has always been yes. - they bought the cars at my asking price
Car dealers - with the internet today its hard for anyone to hide what the fair price is, last 2 cars from a dealer were the 2010 Mercedes ML350 that I bought in 2013, they were asking 33,500 knew it had been on there lot for 5 months - offered 26,500 (most current auction price at the time) they refused but ultimately took it - it's my wife's car and has only 56,000 mile on it. Next was my 2013 Audi A5 convert. bought in 2015, they were asking 29,500 paid it never asked - was the 1 of the cheapest Audi's on Autotrader in the nation, and it was reasonably local.

If its a fair price then the deals on, if not then I'll offer what the market/auction deems fair and it works great!, if not I walk.
Now my 85 Colony Park - err I let emotion get in my way, over paid by $750.00 - but I missed getting the car 2 years earlier and gosh dang it I wanted it - and $750.00 wasn't going to do me in.

 

Admit it, the money on the CP was money well-spent.

 

Yes I have no regrets,

 

Would depend on exactly what kind of vehicle I guess, to me anyway. If seller states price is firm I would not try to haggle ( bothers me when I'm selling, clearly stating price is firm.... and buyer trys to make a lower offer). However if I found that $5500 fair price car/truck and there is no mention about price being firm, dang rites I'll start with a lower offer and see what happens. I also go prepared with cash in hand. Mind you, @ $5500 I would take maybe $1-2K with me and finalize the deal at a bank. Another tactic I've always used buying a car private is once the deal is made, cash is in the other hand now, and we are filling out the transfer of ownership forms is.... ask seller if they could leave the purchase price not filled in and or fill it in at a much lower price than I paid. @ $5500 out here the government wants 13% of that (some $715'ish on top of $5500) when I register the car in my name. Only once I had a real nice old guy very worried about frauding the government. Told him "No Problem if you don't want to". Then I offered him a extra few $ and low and behold his guilt was no more.