Conclusion to the 5-hour car dealership negotiation saga, along with ideas on alternative negotiation strategies that may yield better results, plus tips for your first visit to the car dealership & common pitfalls to avoid.
- Intro - Back at the dealership...
- 21:53 - The three circles of dealership hell
- 26:56 - Things we would do differently
- 27:40 - Alternative strategy #1 (hardball)
- 29:34 - Alternative strategy #2 (semi-hardball)
- 31:23 - Alternative strategy #3 (going public)
- 34:36 - Other tips & thoughts
Part 2 begins right where we left off, back at the car dealership, halfway through a grueling 5-hour negotiation...
Some things we'll cover in this episode –
- Tips for navigating the three circles of dealership hell
- Should you trade-in your car at the dealership? What about financing?
- How did we ultimately buy the car for below MSRP?
- Did we win? Could we have done better?
And after having a couple months to process and reflect on our experience, some advice for those going to a dealership for the first time –
- Are there other, better strategies for negotiating at a dealership?
- Why they tried extra hard to screw us over (and how to avoid it)
- How this dealership still has 1000+ four star reviews on google
👹 Dealership strategies
Tricks to watch out for when negotiating at a car dealership.
#1 - Overload & overwhelm the customer
#2 - Playing dumb
#3 - Play the good cop
#4 - Layering / Chain of command
#5 - Make the customer wait
#6 - Pretend to be firm on the price
#7 - Shamelessly & blatantly lie
#8 - Never stop trying to extract more money
😎 Buyer strategies
Tactics to counter dealer tricks and avoid common pitfalls.
#1 - Document + print everything (and bring backups)
#2 - Don't believe anything they say
#3 - Focus on the big picture
#4 - Hold them accountable to standards
#5 - Be prepared to leave (and mean it)
#6 - Be firm with your language
#7 - Know your price, know your limit
#8 - Lean into the theatrics
#9 - Never let your guard down
#10 - Don't trade in your car at the dealership
#11 - Don't finance your car at the dealership
#12 - Avoid big franchises & chains
Ep 20 - Risk of Ruin Interview
Bonus episode of an interview I did recently on another show, Risk of Ruin. I talk about leaving the work world behind in favor of early retirement, how churning fits into leanFIRE, my time in Japanese jail and our homesteading plans.