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New car sales fell by 8% in 2022, but electric vehicles aren’t to blame, according to the Kelley Blue Book. His EV sales surged 65% last year compared to 2021, and his market share jumped from 3.2% to 5.8%.
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In short, demand is so high that it won’t be easy to negotiate a price if 2023 is the year to finally decide to go electrified. Given that, most people will drop their prices if they don’t get their dealers to cut their prices even a little.
The reality is that many EV buyers are unable to negotiate. For example, some automakers like Tesla don’t negotiate prices at all. In other cases, dealers are less likely to be swayed by MSRPs for limited electrical inventory.
Still, bargaining with the dealer is still part of buying a car, and often even an electric car. Here’s how to get the best value for your next EV.
Be flexible and rethink hybrids
COVID-era supply chain shortages, which kept customers on long waiting lists due to low inventory at dealerships, have eased.
Mark Williams, owner and author of The Automobily, said: “But if the model is a new and popular electric vehicle, negotiating a significant price cut can be difficult. We may be able to negotiate a discount.”
And if the model you want isn’t a hybrid, it might be.
According to the New York Times, demand for hybrids is much lower than for EVs. Much cheaper to buy, max he is $10,000-$15,000 cheaper and saves a lot of fuel.
research before contacting
Once you’ve decided on a model, find out as much as you can about the car before contacting the dealer. EVs are complex and, at least for first-time buyers, less familiar than gas-powered vehicles. An informed buyer is much more likely to close a deal.
“It is imperative to research the market and know the average price of the particular EV model you are interested in,” said Aaron Telle, automotive expert and CEO of the Telle Tire auto shop. “This is a good starting point for negotiations and helps us understand if the dealer is offering the right price.”
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Just like gasoline cars, if dealers compete against each other, they win.
Another tactic that works equally well with EV and ICE cars is to fuel competition among local dealers. Showing interest in multiple sellers in your area is usually sufficient.
“Don’t be afraid to compare prices from different retailers,” says Telle. “This gives us a better idea of the market and also gives us more leverage during negotiations.”
The trick is to let each person know that you are talking to another person. Next, when one trader cuts the price, tell other traders that the competitor is winning.
Automotive expert and CarAudioWise founder Miles Walker said:
Negotiate funding if you don’t compromise on sticker prices
Make sure you get the credit in good shape before getting into the discussion. If the dealer cannot afford to negotiate on price, the finance office can compensate, especially if they retain pre-approval clout from a third-party lender.
“Before asking if they’re willing to give you a decent rate, not a big discount, try to negotiate the price as much as you can,” Williams said.
Know your breaking point and prepare to walk
If negotiations prove fruitless, join the discussion with a number you don’t want to go up and stick with it.
“If a dealer is reluctant to negotiate prices or doesn’t offer a fair deal, be prepared to walk away,” said Telle. Don’t feel pressured to buy if the price isn’t right for you.”
Remember, you can catch more flies with honey, whether it’s gas or electric
Whatever you do, don’t try to play hardball. Dealers still have the most influence, and being intrusive, rude, and demanding are not traits that make people want to work with you.
“Be polite and professional,” Telle said. “Remember that dealers are businesses and are trying to make a profit. It is essential to be courteous and professional during the negotiation process. , could lead to better deals.”
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