How to Save an Extra $1,000 When you Purchase a Car

If you are in the market for a new car and want to save an extra thousand dollars off the purchase price, we have a simple strategy that really works. This is the very last thing you do when you are buying a car. This is after you have done all of your online research, after you have gotten your loan preapproval letter, and after you have shopped around.
When you are really ready to buy a car and you are at the dealer and you have already driven the car you want, you are finally negotiating the purchase price. You are sitting there in the showroom, sort of haggling, trying to convince the salesman that the best price should actually be X because of this report or that website and the poor salesman is telling you that is the lowest price and no one has ever gotten this better price in all of history. Of course what the salesman is not telling you is that he has absolutely no authority to set the final price. The guy who can do that is sitting across the showroom staring at a computer. That guy is the one who will process the paperwork and have you sign on the bottom line.
So now you have arrived at the moment of truth and the salesman has told you that this is the best price. Ever. And then you say “That’s more than I am willing to pay.” Or something similar. And then if you really want to make a thousand dollars in less than a minute, you thank him for his time and walk out. You don’t threaten to walk out, or pretend to walk out; you actually do and you go home.
And now something amazing will happen. If you are really leaving, your offer will suddenly get better in one of two ways. The salesman or the sales manager will offer you a lower financing rate of a few dollars “We made a tiny mistake reading the interest rate sheet, we can lower your rate by $8 per month!” Or the manager will lower the price by a few hundred dollars. “We’re losing money on this deal and I’ll probably get fired!”
But you still have to leave and go home and here’s why. It’s hard to sell cars and it’s a very competitive business and the car dealership knows that if you walk out that door you are probably never coming back and they oh so desperately want to sell you a car. At this point though you can’t fall for the extra $8 reduction. You must go home and go to bed, but only after making sure they have your phone number. If they’ll do that $8, they’ll do $25. And $25 over 60 months is a sweet $1,500.
What will happen next? Tomorrow you will get a very nice phone call and the sales manager will tell you that he had to get an “override” or “special permission” or some such nonsense, but he “really went to bat for you and got you a lower interest rate, or sales price, and if you could come back this evening we can wrap up the paperwork”.
In order for this strategy to work you have to really be ready to buy a car and you have to really be ready to walk out the door and go home. If you do this I can promise you that you will save money. You have nothing to lose and lots to gain. Go get ‘em tiger!