Negotiating the price of a new electric vehicle (EV) can lead to significant savings.

Key Steps to Negotiate Effectively

• Do Your Research
• Understand the Market Value
• Be Prepared to Walk Away
• Consider Financing and Incentives
• Use Competitive Pricing
• Start Low and Build Up
• Stay Calm and Professional

Researching Electric Vehicle Prices

Before heading to a dealership, research the EV model you’re interested in. Sites like Edmunds and Kelley Blue Book provide valuable pricing information. Typically include:

• Manufacturer’s Suggested Retail Price (MSRP)
• Dealer Invoice Pricing
• Current Market Trends

Understanding the Market Value

Market conditions can greatly affect car prices. Keep in mind the following statistics:

Preparing for Negotiation

Being prepared is key when negotiating. Consider the following:

Financial Factors

• Evaluate your own budget and finance options.
• Look for available rebates and government incentives.
• Secure pre-approval for loans if necessary.

Competitive Pricing Strategy

Gather quotes from different dealers. Create leverage by:

• Using quotes to negotiate lower prices.
• Identifying better offers on similar models.

Starting with a Low Offer

Begin the negotiation process with a lower price than you’re willing to pay. This helps set the stage for discussions:

• If MSRP is $58,500, consider starting at $52,000.
• Be ready to justify your offer with research.

The Negotiation Process

During negotiations, keep your tone polite and assertive. Key tips include:

• Focus on the total cost instead of monthly payments.
• Address additional fees and warranties.
• Maintain a calm demeanor, even when faced with resistance.

Example Negotiation Scenario

Consider following this structure in conversations:

• Initial Offer: “I’ve seen better deals elsewhere, and I’d like to offer $52,000.”
• Dealer Response: “The lowest we can go is $56,000.”
• You: “I understand, but based on my research, $54,000 is a fair price. Would you consider that?”
• Dealer Response: “Let me check with my manager.”

After the Negotiation

If you reach an agreement, ensure you review the contract thoroughly. Consider:

• Final purchase price.
• Added fees or extended warranties.
• Inspection and delivery terms.

Conclusion

Negotiating the price of a new electric vehicle is a process that involves research, preparation, and strategy. By understanding the market, being ready to negotiate, and staying professional, you can secure a better deal on your new electric vehicle.