Have you ever felt overwhelmed when negotiating to buy a luxury car? Between invoices, MSRPs, dealer fees, and more, it can get confusing fast. You want the best deal possible but want to avoid overpaying.

Negotiating makes most people uneasy. We've written this helpful guide to help you make the best car deal. Use these proven tactics to get your desired price on your next luxury vehicle.

Why Should You Negotiate?

Buying a luxury vehicle is a significant purchase. With the average price hovering around $55,000, you'll want to protect your investment. Skipping these negotiation strategies could cost you thousands over the lifetime of your car loan.

Slight differences in the purchase price also dramatically impact monthly payments. And who couldn't use a little extra cash in their monthly budget?

Following these simple tactics prevents leaving money on the table. You’ll feel confident knowing you got the very best price.

1. Know The Vehicle's True Market Value

The first step is researching the current market value for the specific car you want. Sources like Kelley Blue Book (KBB) share typical asking prices in your area. This baseline helps you spot decent deals.

Remember to account for exact miles, features and conditions. Custom add-ons or excessive wear-and-tear will adjust valuations. Test driving the car to see if it matches expectations before negotiating.

Knowing the fair price range ahead of discussions gives you a negotiating edge. You can jump on reasonable offers or push back on prices that seem too high.

2. Get Pre-Approved Financing

Dealers make a sizable chunk from financing vehicles themselves. They offer amazing deals if you finance in-house, so it's tempting to go that route.

However, obtaining external financing first will still focus on the car. The dealer knows you're serious about purchasing with locked-in funding, so there's no room to budge on pricing based on financing terms.

Online lenders like Lightstream offer quick pre-approval decisions. It also shows you can qualify for excellent interest rates too. Dealers end up simply trying to beat your existing offer.  

3. Avoid Negotiating Based On Monthly Price

Some buyers focus solely on the monthly payment amount they’re comfortable with. Dealers can stretch loans longer to make numbers work.

Unfortunately, those tantalizing monthly prices translate into paying way more overall. Extremely long 96-month loans mask higher total costs.

Instead, negotiate based on the car's fair selling price first. Then, separately determine an affordable monthly budget to prevent sneaky manoeuvres that hide extra charges.

4. Get Quotes From Other Dealers

Local competition is your best friend here. Getting several quotes shows pricing differences between dealers for the exact vehicle.

Dealer A may offer $500 below MSRP. But Dealer B comes back $2,000 lower without you even asking. Use the lowest bid as significant leverage in negotiating with other locations.

Jot down specific Out-The-Door prices, including fees and sales tax. The total bottom line is what matters, not just sticker numbers. Having this concrete data keeps everyone honest on realistic pricing.

5. Mention Walking Out The Door

High-pressure environments are never fun. Pushy salespeople make negotiations feel like interrogations. Use their tactics to your advantage here.

Even if you love the car, casually mention that you have yet to decide; other dealers may still have better offers. This subtle hint echoes in the salesperson's mind, who likely works on commission.

The risk of losing a sale pushes more price movement. Don't overuse this approach too early, though. Play your cards right for maximum impact and savings.  

6. Ask For Everything In Writing

Verbal promises sound appealing when you’re eager to close the deal. But if agreements don’t make it onto the final contract, they effectively don’t exist.

During negotiations, confirm incentives, extras, fees, and other concessions in writing. Also, email summaries to yourself documenting these discussions.

Contract time: pull out these notes if terms seem different now. Politely ask why promotions vanished or numbers changed. Having proof makes the dealer stick to original agreements.

Now Get That Luxury Car!

Owning a luxury vehicle provides enjoyment for years beyond initial sale negotiations. But ensuring you get the best price first makes that long-term ownership experience even sweeter.

Utilize these insider negotiation strategies to confidently take charge of the buying process. Put emotions aside and leverage market data and dealer competition in your favour.

Before you know it, you’ll be cruising around town in high style with money still lining your pockets! What luxury car model are you hoping to make yours soon?