By Kevin M
When ever we buy a car, a process known as “haggling” is set in motion. From a car dealer’s perspective, this process has two over-riding objectives:
a) To charge as much as possible for the vehicle they’re selling us, and
b) To pay as little as possible for the vehicle we’re trading in.
Our job in the exchange is to bring about the exact opposite outcome in both cases.
As simple as that may sound on the surface, making it happen is anything but! The dealer has the cars, the slick marketing campaigns, the fast talking staff and, in most cases, superior knowledge.
We can’t do much to counter their fleet of cars and in-your-face marketing, but one area where we can level the playing field is with knowledge, particularly as it pertains to valuations. Value is, after all, mostly a function of simple math that most of us can have even if we aren’t automotive experts. It’s often a matter of knowing where to find it.
If you know the value of the car you’re buying, and the car you’re trading or selling, you’ll know when it’s time to close the deal—or when it’s time to pick up and walk.
