I don’t care if you’re buying a car or a house or a skyscraper, if you are buying for cash, always go back and ask for more off the price.
For example, today I bought a car (heather and I got rid of our last two cars before we moved to Virginia). I couldn’t resist going for one last nibble with the salesperson. Knowing that they wanted to control the commitment and environment by having me come in to the dealership I made sure to use this nibble over the phone.
I said, “Paul [pause and sigh] I know there is probably no way you can do this but I’m going to ask anyways because I’d hate to not be able to buy this car. I understand you can’t come down any more on the car, is there any way you can give me a token concession [notice the labeling going on here] by waiving the dealer processing fee [$500].
It’s embarrassing to share this, but I have to live with Heather for a long time, and this would let me save face and get to be a hero in her eyes. Can you make that happen for me?”
And guess what, Paul did… And when I told Heather she sweetly [read gently sarcastically] said I was her hero…
Who said there was no such thing as a happy ending when shopping for a car. You can apply the exact same principal when buying for cash.
The major reason investors don’t ask for a deeper discount on a cash deal is because they are scared to look cheap or of the other party blowing up. Notice how I used negative phrasing and powerful labeling to protect myself from that happening.
Try it in your next negotiation with a seller.
Hope this helps
This nice post was written by David and posted by Peter Conti