It’s time.
Time to buy your first company vehicle. You’re a little scared, but you’re also excited. Don’t let your enthusiasm lead you into making any of these dumb mistakes, and you’ll be fine.
You Get Taken By The Salesman
Happens all the time.
Walking onto a dealer’s lot can be a lot like jumping into a tank full of sharks. You have to be respectful of the salesman’s time, but also on guard against sleazy sales tactics. Salesmen are trained to talk to you in a certain way – a way that sets you up for a sale.
Most of them want you to buy a vehicle that day, and will play games to make you think they’re on your side and that they have to “wrestle” with their sales manager to get you a good deal. This “good cop, bad cop” routine is just that – a routine.
Law firms, like www.salvilaw.com often deal with suits involving car accidents, but you can also ask them about lemon law and “lemon vehicles.” You should always do your research before walking on the lot and know what you want to buy before you buy it. That way, all you have to do is sign the paperwork and drive away.
You’re Too Afraid To Negotiate
But, before you drive away, don’t forget to negotiate with the salesman. Most people are too afraid to negotiate. Don’t be.
This might, at first, seem a little scary. You’re actually taking the fight to the salesman on his own turf, but here’s how to turn things around on him (or her).
When the salesman starts asking you questions like “how much can you afford?” or “what monthly payment is comfortable for you?”, turn it back and say “look, I’m interested in the car. I need something for my business that can do A, B, and C. If you can sell me that kind of car, you have a sale. Make me an offer.”
That last sentence is key. First, you tell the salesman what you want in a vehicle. Then, you tell him to make you an offer. This puts the ball back in his court, and throws most salesmen off their game. When he goes back to negotiate with his boss, reject his first offer by asking, “Is this the best price you can offer?” Again, this throws him off his game. He’s not used to customers asking him this.
If you don’t like the price, walk (since you’ve already done your research, you know the market price for the vehicle, and thus what the fair market value is). Don’t be afraid to walk away. The salesman will probably chase you to make a better offer.
You Ignore Leasing Options
Most business owners think leasing isn’t for them.
But, if you’ve never purchased a business vehicle before, and you’re not sure how long you’ll need it, try leasing it – or at least look at the total costs for doing so. Always ask about the total costs, not the monthly payments. Total costs. Then, compare it to the total costs of ownership.
You Buy New
Never buy new. If you know you’ll need the vehicle for more than 3 years, buy the vehicle used. This will often net you the best deal and will cost you much less than buying new or leasing. Those who decided to buy a brand new car for their business have the freedom to customize the car with vehicle wraps that can help advertise their business.
Dominic Daly worked for many years as a self employed salesman who spent long hours in his car driving between customers. Today he takes pleasure in writing articles for business blogs, usually related to driving and company vehicles.
