[RANDY P]

Usually I try to do the best assessment I can, negotiate the purchase price based on the condition of the car overall - If the car needs no repair (usually less than $200) then I will buy.

Over $200 to repair and we're open to renegotiation - fortunately I haven't been so far off as to lose any PPI cash I've ever spent.

Before I throw my offer, I usually tell the seller what I see as potential issues, and compliment 'em if the car is in decent shape. Then I will ask if there's existing offers on the car, and I also know how long it's been there and contemplate if it's worth chasing the offers quoted. If it's worth chasing then I offer to purchase, and the haggling begins.

On the other hand, if it's an exceptional car, records, well maintained and what I want, I usually don't haggle and just pay the asking price. Not worth the extra agony trying to dicker and maybe losing out on a good car.

On a car lot, I usually don't even test drive until I find what I want, get preapproved at capitolone.com or a local credit union. Do research on what it's worth online and through the local autotrader, or here and then roll up to the dealer.

Walk on up, test drive the car, show 'em my preapproval and tell them I'm not gonna finance unless they beat my existing offer - once they see I can be bought then it's beating them to death to get the price I feel is fair based on research.

Never negotiate the trade until you determine the selling price of the new car, and always know where the market stands on both - never walk in without doing research. Always.

Extended warranties are negotiable, and if you're a slimeball you can offer to purchase one IF the dealer gives you a bigger discount on the car. "Tell you what, take off another $500 on the car, and I'll feel better about buying that warranty we talked about - I'm already over budget on this!"

Day after you drive off, of course cancel the warranty. Get your refund. You will no longer have any friends at that dealer anymore. Most dealers are hip to this trick though. Like I said, it's a slimeball move.

Never fall into the trap of haggling the price based on monthly payment. Study your preapproval and know where you're supposed to be on payments based on the price of the car. The dealer is quoting you a payment based on a ridiclously high interest rate. Reason being is if you assume that the payments are naturally that high, it's no longer necessary to discount the car and the extended warranty can be buried in there and you think you're getting a deal since that $4k extended warranty only cost you an additional $2 dollars a month.

rjp


rjp