January 12, 2011
Results From CarWoo! Marketplace Show Clear Value of Negotiating with Car Dealers
According to an analysis of data now made available through the CarWoo! marketplace, negotiating with the dealer when buying a new car can yield significant benefits for new car buyers. Through CarWoo!’s anonymous confidential online marketplace, buyers receiving the best offers consistently make more counter-offers and generally negotiate more aggressively yielding better deals overall, saving them both time and money.
Their findings suggest that not accepting the first offer a dealer proposes is key to getting a great deal. They even have an instance on record of a dealer saying “The price is non-negotiable” and then lowering the price.This data, along with their research directly with dealers demonstrate that dealers expect to negotiate. Virtually every initial offer has “dry powder” built in because dealers expect to have to drop that initial price. It also suggests that buyers who use so-called “no haggle”, or “fixed price” buying services are consistently leaving money on the table.
CarWoo! is an online service and marketplace through which dealers are connected with anonymous buyers, extend offers and sell vehicles. Buyers are charged a nominal fee to access this marketplace while access is free to dealers. Buyers receive multiple offers while retaining their privacy and dealers obtain referrals for buyers that fall outside of the traditional automotive lead system.
The complete results of this analysis can be found on the http://www.carwoo.com/blog.
Disclosure Note: I am a consultant for CarWoo.
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