Negotiating for a new car price in Bangladesh can seem comical, especially for an amateur going against a team of professionals. But by setting the ground rules in advance, you can level the playing field.
Choosing a car isn’t all about finding the lowest price possible. No salesperson will send you to their rivals across the street, but they know a lot about the cars they sell and who they might be suitable for. And they will do their best to find the right one for you. If you are still in shopping mode rather than buying it now, it would be a mistake to ignore what they have to say beforehand.
Either way, whether you do your price negotiation by email, through an intermediary buying service, or solo with a seller and, inevitably, his boss, you will find yourself in a dealership to sign documents and collect keys.
When You Start To Negotiate For A Car Price In Bangladesh, Work From Your Positions Of Strength:
Your opening bid is usually a fair price based on the price the dealership paid for the vehicle.
The seller will likely start the discussion by focusing on the recommended price of the vehicle (manufacturer’s retail price) or your monthly payment. Do not take this detour.
If it starts with the price, make sure you are trading from the lower price and it goes up, it doesn’t decrease the MSRP.
Starting from your monthly payment as the central point, the seller can set up the entire process: pricing of the new vehicle, trade-in, and financing, if applicable. This gives him too much freedom to confuse you.
Instead, you should start negotiating one thing at a time. Your first priority is to get the lowest price you can get on the new vehicle. Only after you’ve blocked it should you start discussing trade or funding.
Before Negotiating Car Price In Bangladesh, Do Your Research First:
Before going to the car dealership, do your homework. There are a number of established online resources like Kelly Blue Book or Autotrader that will tell you the Manufacturer’s Suggested Retail Price, which is their vehicle’s recommended retail price.
It can also give you an idea of the price you might be able to negotiate with a dealership versus a private seller. You can also research various retailers in your area to find out what special incentives they can offer that could reduce your profits. These include cashback offers, discounts on particular models, zero percent finance offers, or lease offers.
To Negotiate Car Price In Bangladesh, Know What You Can Afford:
Part of the reason you do your research first is to help the budget. If you intend to use cash, the amount you have available will determine your trading margin. However, if you are planning to use a car loan, you may have a larger budget, a wider range of car buying options, and more room for negotiation.
Even if you are considering taking out a car loan, you may need (or want to) make a down payment to reduce closing costs or the overall loan amount. Take the time to assess how much free money you are comfortable putting in.
Leverage Dealer Cost To Negotiate Car Price In Bangladesh:
Online resources available at websites such as Kelly Blue Book and Autotrader also list the dealership cost, or price charged, for your preferred vehicle. If it’s a used vehicle, find the car’s book value, which is the original cost less depreciation. Use this information as the basis of your negotiation.
Rather than negotiating at the Manufacturer’s Suggested Retail Price (MSRP), focus your offer on the cost of the dealership’s invoice (or the book value of the car). Your wiggle room is usually between what the dealership paid the manufacturer (or previous owner) for the vehicle and the price listed on the lot.
Know Your Trade-In Value To Negotiate Car Price In Bangladesh:
If you are considering trading in your current car as part of the deal, use the resources we mentioned earlier to find out its value before you set foot in the dealership. You can also browse listings for similar vehicles (make, model, year) to determine their market value.
If your car is in good condition and it is a sought-after model, you can take advantage of this when negotiating with the dealer. This is especially true in today’s environment, where the dealership may be tempted to make money selling your used car.
If you get a good trade-in offer, take advantage of it. Otherwise, you can always sell the car yourself to get more money or take it to a used car dealership for competitive quotes.
When You Negotiate Car Price In Bangladesh, It’s Okay To Say No:
Be prepared for the possibility that you will leave without a vehicle of your choice that day. It will be better for your mood and your bank balance if you don’t let yourself be forced by a bad deal.
It will be easier for you to leave if you have a shortlist of dealers and private sellers if you are purchasing a used car, for the vehicle of your choice.
The Wrap Up:
Whether you need a luxury SUV or Pajero or a budget-friendly compact sedan, at Mitsubishi, we have a vehicle for everyone. From handy maneuverability to outstanding fuel economy, it will meet your highest expectations. The more you drive our cars, the more you will appreciate the little extras that make the driving a joy.
Whether you have any questions, problems, or maybe a suggestion, don’t hesitate to contact us at Mitsubishi Motors or call at +8809666 704 704. Visit us at 215, Bir Uttam Mir Shawkat Sarak, Tejgaon, 1208 Dhaka, Bangladesh and get a quote today!