GOLDEN SILENCE (Auto Negotiation): Car Market Crash coming! Used Car Sales, The Homework Guy

silence is golden especially when it comes time to negotiate and it is indeed time to negotiate is it not liz it is because the car market is crashing right now hi i'm kevin hunter the homework guy here today with the amazing elizabeth the homework gal some of you are very sharp negotiators and you make us very proud yet others out there are as meek as a fluffy little bunny and you let those savage dealers push you around you fluffy little bunnies you hopefully today you learned something that's right many of you feel that your weakness in negotiation is not knowing what to say in response to all the dealer gimmicks and one-liners and then you feel your natural human kindness tugging at your heart you get sucked into the dog and pony show and the storytelling time and you forget to say no to all the nonsense we frequently get requests for one of us to come join you on your next car shopping mission we wish we could be there but we can't be in all 50 states at once so today we're going to teach you how to negotiate like a pro that's right the art of negotiation is mastered by very few people but let me tell you why we can out negotiate most of you we've seen the other side of the coin we've witnessed the laughter and the party the dealer has after the customer has been totally rolled over by a member of the sales team there is no way that we are going to be the butt of any salesman's jokes no and the reason for their celebration after we leave no in fact they'll be bummed out because of our experience on the car lot we know without a shadow of a doubt that it's all just a big poker game well unfortunately the dealer is holding the aces against most people most of the time but not anymore against anyone watching and learning from this video i opened by saying silence is golden and it is my favorite negotiation strategy exactly but also deploying it at the right time is very critical in sales negotiation there's something known as the anchor and the anchor creates a cognitive bias the anchor is nothing more than an attempt to establish a reference point or anchor around which a negotiation will revolve the anchor is the first offer presented at the beginning of a negotiation and the rest of the discussion revolves around it unless you shatter it immediately and right now at the car market being as weak as it is you must shatter the anchor immediately and if you don't the common tendency is for both sides to give too much weight to that first number put forth in the discussion and then inadequately adjust from this starting point otherwise known as the anchor so let's give an example of shattering or defusing an anchor i'll start okay kevin our sale price is 35 000 for the great vehicle choice you made well thanks elizabeth but listen i'm not here to play games with you but we are miles apart on price well what do you mean we shop hundreds of other vehicles at numerous dealers in our area when we set the price in fact our amazing software does it for us you can do a lot of shopping around and still not find another deal like this well go ahead and talk to whomever you need to but 35 000 isn't a price i'm willing to pay for this vehicle well and there's that awkward golden silence yes shut up and say nothing more a key point here is that this is not the place to counteroffer but you must defuse the anchor clearly and forcefully and then shut up once you've told them you are miles apart on price let the salesmen or sales ladies stumble over themselves in the awkward silence the more awkward the better it makes them dig much deeper than they otherwise might have and another point you do want it to be a discussion about price and not payments never about payments yes exactly if they start by presenting payments stop them immediately by saying stop i want to talk price not payments and then wave them off until they come back with a price feel free to add go on get that price and then come back wave them away if you let them start the discussion based on payments they are starting with a high price anchor and aren't likely to budge a penny on it when we worked the car lots we saw it happen hundreds of times to customers around us dealing with other sales people they set up the high price anchor by getting you to focus on payments and when you say the payments are too high they offer extended terms or ask how much more cash you can come up with they steer the conversation away from the price anchor that's too high that's when you know you're losing losing indeed you must steer the conversation to price not payments and kill that high price immediately treat it like it's a million dollar house and you are a two hundred thousand dollar home buyer you wouldn't even consider such a home would you the truth is that you cannot hope to get anything close to a good deal if you let them start negotiations with a high price and of course like some of you might say not every dealer will be willing to negotiate right now but that's okay you just happen to be in the wrong dealership if they won't budge you're going to have to be more patient and wait to find someone who is a bit more hungry and believe me the hunger games are on their way you can help push that envelope demand is low right now chip manufacturers are starting to catch up interest rates are on the rise all of which works in the favor of the patient and methodical car buyer and by the way i want to add we aren't suggesting that you go buy a car right now we're simply sharing this with you to help you if in fact you do need a car sure okay kevin let's go back to that opening statement silence is golden i mentioned that it's my favorite strategy so here's my advice to all you listening out there today if you don't know what to say during negotiations shut your yapper don't nod your head or show any kind of agreement move back from the table don't look at what they are scribbling on their papers it's all a game give them the silent treatment that's something all of us women know how to use very effectively and you know what i'm talking about ladies and all of you guys out there know how much you're losing when the woman in your life shuts up and treats you with silence never forget it wow isn't that the truth well when it comes to car negotiations silence isn't just golden it's gold as in more gold stays in your own pocket so let's do a recap quickly your first move is to diffuse or shatter that high price anchor one more time kevin okay our sales price is 35 000 for that great vehicle choice you made i'm not trying to play games with you but we are miles apart on price so refuse to allow a high price point to be the starting point of your negotiations and refuse to allow that conversation to be about payments and then destroy them with awkward silence awkward deal-winning award-winning golden silence so let them try to fill the uncomfortable space with awkward babbling don't nod your head or show any sign of agreement and in fact fold your arms and lean back in your chair make no attempt to read the scribbles they put down a paper for you watch what happens then yep if you learned something today and you'd like to say thanks for our silent video with a tip the links appearing now will be easy to find down below and if you enjoyed the video we'd appreciate you giving us a great big thumbs up and please always remember to share with family and friends and if you're not already on board with us don't forget to subscribe the entire homework guy team is here to represent you the car buyer and that's exactly what we strive to do in every video we produce thanks everyone for coming back we'll see you on our next video you guys rock i'm kevin hunter the homework guy signing off with amazing elizabeth the homework gal we gotta go [Music] you

Channel: Kevin Hunter The Homework Guy

Views: 27,592

Keywords: Car prices, news, car loan calculator, Auto sales, Used cars, Car, Cars, Car dealers, Automotive news, Car news, Car news USA, Automotive, How to buy cars from a Dealership, Car Buying Tips, cash, car dealer scams, car dealership negotiation, car negotiation, car dealership rip offs, car financing, dealership scams, car rip offs, auto dealer rip offs, used cars for sale, used car, car sales, chip shortage, car market, car prices, market crash

Id: A7MdeOOUkM0

Length: 8min 3sec (483 seconds)

Published: Sat Jun 18 2022