No matter how nice a car seems when you prepare to drive it off the lot, you can never be certain that it will hold up in the long run. That’s why it’s so important to negotiate with the dealer for an extended warranty. If you don’t come to the table with a solid strategy and a steadfast commitment to getting your way, you’ll never land the type of deal you’re looking for. Here are five negotiation tips for securing an extended warranty at a fair price.
Insist On Separating The Warranty From The Price Of The Vehicle
Some dealers might try to sneak the warranty price into the total cost of the vehicle. This is a slimy maneuver, and you shouldn’t let them get away with it. The car’s price only refers to the vehicle itself, and any extended warranty should be negotiated separately. Stand firm on this point, no matter how much a dealer tries to change your mind.
Negotiate The Warranty After Securing The Vehicle Price
Don’t negotiate the warranty alongside the price of the car. The warranty negotiation is entirely separate, and it should be treated as such. Once you’ve got a price everyone can agree on, then, and only then is it time to address the warranty.
Never Accept The Dealer’s Initial Offer
Dealers typically set an initial warranty price that’s double what it should be. They’re hoping some buyers will have come unprepared. Since you’ve done some research, you’ll be able to see this strategy for what it is. Be strong, and try to bring the dealer well below their initial price.
Comparison Shop With Other Dealers
Don’t be afraid to walk away from a nearly-completed deal because of the warranty. Such a maneuver will give you the chance to investigate other options. You can even finalize prices with other dealers just to test the waters regarding typical warranty prices in your area.
Make Sure The Dealer Knows You’ve Done Your Homework
If you’ve determined the typical warranty price in your market, don’t be afraid to let the dealer know. They’ll have to respect your negotiating power if they know you’re well informed.