Quote:
Originally Posted by Fastbrz
What's your secret to negotiating?
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Simple, always justify your offer. Whether directly or indirectly, you have to devalue the product in the seller's mind. Don't just say 'I'll give you $400, take it or leave it' - he will leave it. Instead, make sure the seller understands the costs you may incure maintaining the vehicle, costs you may incure in preparing it for daily use, etc. always ask to see if major parts have been replaced (timing belt, water pump, etc). In this case he said no, nothing had been replaced and the car had been sitting for 6 months. I made sure to point out that when the water pump goes out, parts alone will cost $850. Try to point out almost all the problems before the test drive - this will give the seller time to consider what you've mentioned (and devalue the vehicle in their mind) before you make your offer.
Before making my initial offer, I asked the seller how much he NEEDS to get for the vehicle. I had already given him some time to absorb the fact that I probably wouldn't be willing to pay his asking price, and he hit me at $2k. I told him that although I respect why he's asking that amount, the way it sits the car is a couple hundred bucks to me. I offered $200, he countered at $800, and I offered to meet him at $350. He said no, he could scrap it for $700 (which he really could). I told him I would hate to walk away over a couple hundred bucks, and more than that would hate to see a car he's held onto for so long go to a scrapyard - this made it personal. Is it worth a couple hundred bucks for him to waste the car with all his memories? I told him I could offer him $400 and take the car same day, but that I couldn't go any higher as I'm afraid of costs I may incur if any failure occur. He hesitated for a minute, then shook my hand and the deal was done.
It won't always work out this way, but in this case it did. For anybody who is wondering, I wouldve been willing to pay ~$1200.