Should I reveal to the car salesman what I am willing to pay for my new car?
Never. Always hold that firmly to your chest. Keep that number to yourself and allow the salesperson to discover it. Once they've discovered it, privately know that you're there, and then close the deal. But never, ever offer what your pain point is or what your lowest price is. Never, ever mention monthly costs in this process. You always want to be going after the full transaction price of the vehicle and what point you want that to be. Never allow the salesperson to know what your monthly lowest price will be or what your willing to accept. Because that's just fuel for them to build a program which will assist the dealer and the dealer's business and not your own. One tactic is to say well, you're shopping for a vehicle that we're not able to get to that price. Maybe you're trying to take on more vehicle than you can afford, so let us show you a lesser vehicle, but then pump up the interest rate, the term of the loan, whatever the case may be to make even more on that lower profit vehicle. So that's why it's important to stay firm and don't allow the salesperson to guide the process. You're in charge of the process. If you don't sign, they don't make a penny. You always have the power.
