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 the company.
Renee Blodgett is the founder of We Blog the World. The site combines the magic of an online culture and travel magazine with a global blog network and has contributors from every continent in the world. Having lived in 10 countries and explored nearly 80, she is an avid traveler, and a lover, observer and participant in cultural diversity.
She is also the CEO and founder of Magic Sauce Media, a new media services consultancy focused on viral marketing, social media, branding, events and PR. For over 20 years, she has helped companies from 12 countries get traction in the market. Known for her global and organic approach to product and corporate launches, Renee practices what she pitches and as an active user of social media, she helps clients navigate digital waters from around the world. Renee has been blogging for over 16 years and regularly writes on her personal blog Down the Avenue, Huffington Post, BlogHer, We Blog the World and other sites. She was ranked #12 Social Media Influencer by Forbes Magazine and is listed as a new media influencer and game changer on various sites and books on the new media revolution. In 2013, she was listed as the 6th most influential woman in social media by Forbes Magazine on a Top 20 List.
Her passion for art, storytelling and photography led to the launch of Magic Sauce Photography, which is a visual extension of her writing, the result of which has led to producing six photo books: Galapagos Islands, London, South Africa, Rome, Urbanization and Ecuador.
Renee is also the co-founder of Traveling Geeks, an initiative that brings entrepreneurs, thought leaders, bloggers, creators, curators and influencers to other countries to share and learn from peers, governments, corporations, and the general public in order to educate, share, evaluate, and promote innovative technologies.
