Bargains

Question 1

How much can a good haggler save on a big purchase?

Answer 1

10-15%

Question 2

When buying a used car, what’s the purpose of a wingman?

Answer 2

Play “bad cop”; bring doubt in

Question 3

True or False: You should leave every time the salesperson leaves.

Answer 3

True

Question 4

True or False: Never finalize a car deal without leaving the lot.

Answer 4

True

Question 5

True or False: Accept the dealership’s first counter offer if you like it.

Answer 5

False, instead make a counter offer in a smaller increment

Question 6

How much is the typical markup on a new car?

Answer 6

6-8%

Question 7

True or False: Get prepared for a car loan from a private institution before going to the dealership.

Answer 7

True

Question 8

True or False: You get a better price on a new car by paying in cash.

Answer 8

False

Question 9

When is the best time to buy a car?

Answer 9

At the end of the month

Question 10

What are places to find a great deal?

Answer 10

Individuals
Estate sales
Public auctions
Garage sales
Couponing
Repo lot
Flea markets
Refunding
Foreclosures
Pawn shops
Online auctions
Classified ads
Consignment sales
Conventions

Question 11

What are the 7 basic rules of negotiating?

Answer 11

1. Always tell the absolute truth.
2. Use the power of cash
3. Understand and use “walk-away power”
4. Shut up
5. Say, “That’s not good enough.”
6. Remember good guy, bad guy
7. Employ the “If I” take-away technique