Just a quick post today. I watched a friend document his negotiation process of buying a car. In The Art of Negotiation I outlined the 3 things you need in order to be good negotiator:
1. Do your research
2. Remember you are dealing with people
3. Be ready to walk away
He basically found a way to let other people do the research for him and made it as emotion-free as possible. Here’s his process, taken directly from his Facebook:
“Get a price from one dealer, do an internet request from all the others for a quote. Take the one lower than your original bid, either ask them to match it if you want to be a hardass, or ask for an add-on you want that is equal or slightly less than the difference. The add-ons cost them far less than they charge, so you can get it easily.”
He totally did it correctly and made it easy on himself and the dealers. If they didn’t match his price or give him one of the add-ons he asked for, he was going with another dealer. Simple. Easy. Pain-free.
If I did something like the Marketplace Money Piggy Award he would definitely get it this week!