what's better: asking a firm price or negotiable?

i like ads that say the price is firm because usually you'll know that they're not just trying to "unload it" and that they know its worth what they're asking or they're not giving it up. When I bought my car the price was firm, and for good reason, the guy knew it was worth every penny he was asking. Which is what I intend to do when/if I sell it. of course I tried to haggle with him, but he wouldn't budge. he said if he didn't get what he was asking then he was not going to sell the car. I then knew that he was not trying to just get rid of a peice of junk and I respected him for that and payed his asking price. It turned out great and I'm glad I did it to this day.

 

I don't blame you, but it's a fact of life with these cars. I agree with Rob that it isn't always easy to price in line with the market. For that reason, I wouldn't necessarily call my price either "firm" (because it shouldn't be) or "negotiable" (because you'll seem desperate). It's your asking price, that's all. What you get will be a function of many factors, from the overall state of the market to your particular car's color to the time of year.

I bought my car from a dealer whose price was "firm" - except that it wasn't. I negotiated because the price seemed a bit high for the market and because it was January - I thought they'd rather sell the car than hold out for top dollar in the Spring. I don't think it was an ego thing, but who knows.

I was fortunate in that the salesman was knowledgeable and the dealer was motivated. Between the work they did on the car pre-sale and a modest price reduction I was satisfied with the deal and apparently so were they.

If you understand the market and are realistic about your car, you should do just fine. Remember, it's your car, so if you don't like the offer, just say no.

 

I would ask a little bit more than what you'll settle for. Then when you get one on the line, you can always entice them with a small discount. Most people hate to pay an asking price, even if it's cheap. Asking too much, however, just discourages buyers from even asking about it.

Dave

 

The most important issue is a realistic price. If it's fair I don't think "firm" is an issue.


Though when I see "firm" on a car I usually move on because the price is typically on the high side and it means the owner is not flexible if there are issues.

 

Regarding the ego thing...right on. It's a part of the seller/buyer game, and I'd think especially with Ferrari people or people who can afford one...these egos typically tend toward the larger side.

 

Your car is only worth as much as the price someone is willing to pay for it.

Everyone wants big $$ when selling, but who's buying it??

You're better off keeping the price high, someone who wants it may take it for the high price if you're lucky, if not then you can always lower it from there.

---->Show me the money!

 

I don't like to sell cars either. In the past when I got asked that number I've used all kinds of replys. I've said that it's firm, that it's negotiable, that it depends on the negoitiator. I've taken hard lines and soft lines. Nothing seems to work. I've also told perspective buyers that if I were to fix all the little things wrong with whatever vehicle I'm selling then I'd be asking top price. I seldom, if ever, ask top price for a vehicle.

Now I try to figure out a realistic price, increase it by ten or fifteen percent and put it on the market. When they ask my bottom line, I ask what is their top price. If they try to low ball me, then I say, "Adios," and don't feel bad about losing a sale. If they make an offer that's in the ball park, then I'll talk to them.

I recently saw a joke about this. An ad said, "I'm selling because, "Do what the F#$k you want," doesn't mean what I thought it meant." grin

Bob Wassam

 

Negotiating is just part of life when it comes to selling cars. People like that "found" $1000, which is why you always work down from a higher price.

There are studies on how people are happier buying an item at a given price when it was initially priced higher than if they had just paid that same amount with no haggling. So you can sell a car at a "firm" price, but you'll need to wait longer for a willing buyer -- usually someone who can pay cash without checking their bank balance. Most of us want to feel like we got a "deal" through our negotiating prowess, so you'll have to play along with that.

I did sell one car (Porsche) for exactly what I was asking, and I priced it at retail (what I had paid for it). But it was a no-excuses car, low mileage, right colors and the buyer was well-heeled and didn't want to spend another 4 months looking for a comparable car for less money.

Also, I didn't have to sell -- really could have just said "no deal", shrugged and hung onto the car a bit. I made that clear up front just by being very casual about the whole deal.

Ditto on my SLK - turned down repeated lower offers from one gentleman for two weeks. Then a wealthy woman came by and bought it for quite close to what I was asking. When the gentleman called back, I politely told him the car was sold. I think he would have bought the car eventually, because he kept calling. But the thrill of the negotiations seems to have been what he was into most.

 

Price it realistically with a small amount of negotiation room.......more than 5% but less than 10%.

Be prepared for the grinders by having the data to back up your price handy when the prospective buyer starts the negotiations.......ask the buyer to justify a lower price.....because with the data you had handy, hopefully you can subsantiate why it is worth what you are asking.

You will be able to readily assess whether or not someone is "for real" very quickly if you have done your homework, and also by asking the buyer some tough questions.

Don't assume the first caller you get is going to buy, and be prepared to deal with 10 calls at least......be prepared to wait if you know your price is realistic.

It sounds easy because I do it for a living. But the turnover rate in our business is like 90% in 90 days.....so maybe it is not really that easy after all.

I can empathize with the OP. Good luck.

 

I suppose it all depends on how you define "better".

If you want a "good" price, you might have to haggle with buyers.

When I sold my AllTrac, I defined "better" as not having to show the car to the whole tourist trade.

I picked the price I thought was fair -- not what I'd "like" to have gotten, but what was reasonable for the car and mileage. Dropped that a couple of hundred, and put that as the firm -- and I really mean firm -- price. (It was still twice what the dealer offered as a trade-in.)

But -- I documented the car with a long write-up on a web page, and listed pointers to it on a few appropriate chat lists and chat pages. (My only mistake was listing the contact email address in machine readable format instead of as a gif image -- I had spambot issues for a while).

Within four days, I had people offering *over* my asking price -- although usually with conditions (fix something first, ship to CA, etc.).

I sold the car to the first guy that looked at it -- for my asking price (in cash). (I then had to email other people who were scheduled to look at it later that day to cancel.)

Behold the power of e/commerce.

For me, the email queries and "come ready to buy" approach was "better" than getting "all the market would bear".

How much is your time worth?

 

Johng...........

Well.............I usually like to ask people things like this when they call me............

How many (insert make) have you recently looked at, or done PPI's on, or owned before ?..........(This will tell you how far along they are in the buying process and how much they are likely to know in general.....it is one of my favorites for sizing up someone.....question # 1....well, it is really 3 questions)

Do you have any friends who own (insert make) ?........(It is always good to establish common ground if someone is from your own city/industry, you may know people he/she does.......it goes to credibility and tells you if he/she moves in similiar circles.......aka has $$)

What pre-conceived negative concerns do you have about (insert make) ?..........(in conjunction with the first question I posted, it is good for fleshing out their objections up front in a non-threatening way.....works great IMHO.......a great # 2-3 question)

Have you driven a (insert make) before ?........(saves you a lot of useless test drives and goes to their experience)

Would you ever buy a (insert make) sight unseen ?..........(I always ask this in the first 3-5 questions if they are not from my area)

What is more important to you.........best possible price or best possible condition ?......(don't let them say both....make them choose one.....the reason is obvious.....if they say best price......be prepared to take a different approach than with a best condition kind if buyer)

When are you parting with your hard earned money ?..............obvious.

And when they answer, get them to validate their answers, ask them why they answered that way, and don't hesitate to point out illogical contradictions..........

NOCAR you kill me.............LOL !!!

Hope this helps.......

 

examples:

Does your wife know you are here?
Does she let you make your own decisions?
Are you old enough to sign a contract?
Can you give me a $5000 deposit before I answer any stupid questions?
Are you a 'sport' shopper?
Are you ready to buy within say, this decade?
Could you just drive an ice pick in my ear and get it over with?

These examples of strong questioning techniques will get you off to a fine start.

 

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