Sunday, May 10, 2009

Should I pay an independent financial wiz to help my daughter negotiate at the car dealership?

My daughter lives in a different state so I can't do it myself. I expect her to get a new or very late model vehicle, in the $22K to $29K range. I would like her to be more comfortable shopping with less potential pressure from salespeople. Also, how much would this service be worth? Thanks for your help!

Should I pay an independent financial wiz to help my daughter negotiate at the car dealership?
No why spend the money. The important thing when buying a car is that you know your information - go to edmunds.com or Kelly Blue Book to find out the true market value of the car she is interested. And you have to be willing to walk away from the dealership you don't like what they are offering. This would be good experience for your daughter - let her do it. But she has to be armed with information before going in.
Reply:If your daughter is old enough to live in another state, then she's old enough to negotiate a price on a car. You sound like you are trying to manage a baby instead of an independent young woman.


That being said, I still think you can do it, if you want. Just manage the transaction over the internet yourself. Send her out for test drives. She lets you know what she likes, and the prices. You email the internet desk at the dealer and negotiate over the internet. Dealers hate that because people tend to get the best price over the net. But, most will do it. And, you dont have to pay anyone to do it on your behalf, which generally will cost you several hundred dollars or more.

rose garden

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