Expert Negotiation Tips: Buying a Big Ticket Item

Martin Chrimes, Independent Financial Advisor

About Martin

Martin Chrimes is an independent financial advisor renowned for giving straight talking consumer focused advice.

His top ten tips will help make sure that you're prepared to do financial battle and ensure that you don't get ripped off on those big ticket items.

Independent Financial advice

Buying a car is one of the biggest purchases you’ll make, so it’s important to make sure that you’re getting the best deal possible. Our financial expert Martin Chrimes, renowned for his straight-talking consumer advice, gives us the golden rules to follow so that your hard earned money goes as far as possible.

;

About Martin

Martin Chrimes is an independent financial advisor renowned for giving straight talking consumer focused advice.

His top ten tips will help make sure that you're prepared to do financial battle and ensure that you don't get ripped off on those big ticket items.

;

Independent Financial advice

Buying a car is one of the biggest purchases you’ll make, so it’s important to make sure that you’re getting the best deal possible. Our financial expert Martin Chrimes, renowned for his straight-talking consumer advice, gives us the golden rules to follow so that your hard earned money goes as far as possible.

Top ten essential tips when buying a big ticket item

1

Budget

Set a realistic budget that anticipates future costs.

2

Keep schtum

Never reveal your budget- not even a between figure.

3

Borrow

Research all financing options available- and ensure repayments are feasible within your monthly outgoings.

4

Homework

Know your desired product inside out and use comparison sites to get the going rate before setting foot in store.

5

Competition

Never buy from the first retailer you visit and don't be afraid to play them off against each other.

6

Low ball

Expect to meet the retailer halfway.

7

Invest time, save more

Separate your old car sale and next car purchases rather than part-exchange. A car dealer has margins to meet when he part exs- you'll either get an inflated price on your old car or a discount on next. But not both.

8

Be flexible

The more flexible you are willing to be, the better deal you will find. For example, when buying a car: search sites for delivery mileage cars, buy out of season, eg: 4x4's in Spring, be prepared to compromise on things like colour.

9

Walk away

Most importantly, be prepared to walk away. You don't want to resent a big purchase and neither do you want to go into debt.

10

Cash

You'll get a better deal if you walk in with 'cash.' (by 'cash' I mean either paying there and then or over time rather than using a trade in. I don't mean taking in wads of notes!) This is because the dealer knows it will be a quick and easy transaction.

Top ten essential tips when buying a big ticket item

  • Budget

     

    Set a realistic budget that anticipates future costs.
  • Keep schtum

     

    Never reveal your budget- not even a between figure.
  • Borrow

     

    Research all financing options available- and ensure repayments are feasible within your monthly outgoings.
  • Homework

     

    Know your desired product inside out and use comparison sites to get the going rate before setting foot in store.
  • Competition

     

    Never buy from the first retailer you visit and don't be afraid to play them off against each other.
  • Low ball

     

    Expect to meet the retailer halfway.
  • Invest time, save more.

     

    Separate your old car sale and next car purchases rather than part-exchange. A car dealer has margins to meet when he part exs- you'll either get an inflated price on your old car or a discount on next. But not both.
  • Be flexible

     

    The more flexible you are willing to be, the better deal you will find. For example, when buying a car: search sites for delivery mileage cars, buy out of season, eg: 4x4's in Spring, be prepared to compromise on things like colour.
  • Walk away

     

    Most importantly, be prepared to walk away. You don't want to resent a big purchase and neither do you want to go into debt.
  • Cash

     

    You'll get a better deal if you walk in with 'cash.' (by 'cash' I mean either paying there and then or over time- rather than using a trade in. I don't mean taking in wads of notes!) This is because the dealer knows it will be a quick and easy transaction.

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