How to Buy a New Car at the Lowest Price
4.5 (11 ratings)
Instead of using a simple lifetime average, Udemy calculates a course's star rating by considering a number of different factors such as the number of ratings, the age of ratings, and the likelihood of fraudulent ratings.
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How to Buy a New Car at the Lowest Price

Get emailed offers before walking on the lot. According to TrueCar it was the lowest price in the nation (see picture)
4.5 (11 ratings)
Instead of using a simple lifetime average, Udemy calculates a course's star rating by considering a number of different factors such as the number of ratings, the age of ratings, and the likelihood of fraudulent ratings.
837 students enrolled
Created by James Costello
Last updated 5/2015
English
Current price: $10 Original price: $50 Discount: 80% off
1 day left at this price!
30-Day Money-Back Guarantee
Includes:
  • 2 hours on-demand video
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
What Will I Learn?
  • Walk into a dealership with a final price already confirmed by email--no extra fees, no pressure, no stress--just pure satisfaction :)
  • Leverage the power of an auction, whereby multiple dealerships will be bidding lower and lower prices each time you pick up the phone or send an email
  • Avoid the pressure, frustration and anxiety (dare I say horror?) of enduring high pressure tactics at a dealership
  • Have car salesmen motivated to treat you with kindness from beginning to end, while being compelled to offer very low prices, because you understand the dynamics of a negotiation
  • Make your friends and coworkers curious about how you saved so much money on a new car
  • Share your story with me by sending a screenshot of your low price and the TrueCar info to celebrate your success
View Curriculum
Requirements
  • Nothing! Grab a Coke and a smile! Here we go! :)
Description

May 2016: Use your research skills to find the best price.

From the comfort of your own home or coffee shop, you'll get the best deal, before you walk into the dealership, by having a confirmed offer via email of the final price you'll pay for the car. No pressure, no stress, just pure happiness.

I will walk you through each step of buying a car the coolest way possible: utilizing the power of the internet as well as high level business negotiating techniques, while being treated nicely throughout the experience.

Who is the target audience?
  • This course is for someone who wants an adventure! An adventure to take control and buy a car on your terms, doing so intelligently and comfortably...pretty much the opposite of how cars are painfully purchased.
  • This course is for someone who values acting strategically and intelligently, over being rude and angry; someone who wants to save a ton of money beyond an internet shopper and have a great story to go with it
  • This course is not for someone who wants to buy a car in 1 or 2 hours. This process can take anywhere between 4 to 7+ hours of returning phone calls here and there, confirming emails, etc. Of course you get breaks, but part of the strategy is getting many dealerships involved, which takes a day
  • This course is not for someone who wants to lease a car. This course is not for someone who wants to buy a used car. While these techniques can be (and should be) used when leasing or purchasing a used car, the content is directed toward purchasing a new car for simplicity and clarity
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Curriculum For This Course
Expand All 31 Lectures Collapse All 31 Lectures 01:58:03
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Introduction
3 Lectures 11:14

You've probably had a tough experience buying a car, let's hear it!

Preview 04:31

The goal: get a ridiculously low price and get a great story.

Just like lawyers and athletes, 80% of the work is preparation, 20% is execution.

What You'll Learn & Course Overview
04:46

Block off 3-6+ hours for a new car purchase.

Download 2 documents to use as tools throughout the course.

Expectations and Resources
01:57
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Preparation & Homework
4 Lectures 14:47

Sell your used car as a different transaction on a different day.

Beware and avoid the Four Square technique!

Sell Your Used Car
04:01

Control the process and avoid annoying spam.

New Email Account
01:35

Your FICO Score: subtly but powerfully important.

Credit Rating
02:12

Calculate Your Total Cost (not Monthly Payment)

Edmunds Car Incentives for Financing

Credit Union/Bank

2 Week Maximum Timeframe

Auto Loan
06:59
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Principles of Car Negotiations
7 Lectures 22:11

What's really motivating a car salesperson?

Tough & Mean --> Lame

Smart & Strategic --> Awesome

Tapping Real Hot Buttons
04:35

Don't just read a script: connect with people.

Guessing vs. understanding makes all the difference.

Empathy
02:22

Think EBay vs. Craigslist: 20X bidder difference.

You want as many dealerships bidding for their lowest price.

This is better than shopping online and way better than shopping in person.

Preview 02:44

Flexibility & Psychological Advantage

Make it EASY for dealerships to compete

Why is it effective? You already have another offer in hand!

Negotiating from Home
01:24

Sounds counter-intuitive but it is VERY powerful

Gives you the ability to SHOP best prices

Gives you time and space to gather your thoughts and weigh options

Note: dealerships do this all the time.

Preview 04:49

“People only appreciate what they work for.”

You want as many dealerships as possible bidding as EARLY as possible

Sales person's commitment: 100%

Your commitment: 10%-30%


Psychological Commitment
04:40

Comfortable! Comfortable! Comfortable!

You've structured the deal like an EBay auction --> Best Price

You have very little psychological commitment

Salespeople are motivated to give you a low price and to be nice

Review
01:37
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Proper Research
5 Lectures 29:21

Test drive at lunch (on a different day)

Get clear on what you need

Preview 01:45

Clarifying your needs gives you power: you must chose 1 specific make & model!

Fill in your needs vs. wants in your Worksheet Doc

A≈B≈C but still make them compete on price

Wants vs. Needs
05:32

Link your needs with the power of full vs. limited authority

Needs – (require) Full Authority

Wants – (only require) Limited Authority

Preview 02:05

Let's clarify their real needs to give them everything but a high price.

Salesperson's Needs/Wants
01:27

Set your goal: lowest price locally and nationally

Do the grunt work upfront: log in the basic data, so you can negotiate easily later

TrueCar Indepth Research
18:32
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Let's pick up the phone!
11 Lectures 39:22

Tone— Your message is determined by 55% body language, 33% vocal elements and 7% words

(Source: Forbes.com)

Just Before You Call
01:44

How, when and who to call; it's nice to be organized.

Calling Order
01:54

What to do when you reached their rock bottom: get creative.

Preview 02:00

Get emailed OTD price confirmation to secure the deal.

Emailed Out the Door Price
00:45

Reading of the script for the sake of tonality and demeanor.

Note the re-framing that takes place to consistently regain control of the conversation.

The Script: Call #1
05:11

Continuation of the script read.

The Script: Call #2 - #10
01:49

Learn how to adapt to common objections.

Possible Resistance
07:40

Build the relationship

Appreciate, be kind and keep it light, while remaining strategic

The Script Explained
05:47

Reframing techinques explained in detail

Possible Resistance Explained
08:44

The deal is done! You got the lowest price OTD emailed to you. WooHoo!

(Let's just double check the stock and VIN number)

Congratulations!
01:02

Basic package vs. premium package? No thanks!

Only buy if you shop around.

Finance--Don’t Buy Extras Now
02:46
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Success
1 Lecture 01:08

Share your success: screenshot or pic of your low price vs. MSRP.

What was the turning point for you?

Check out my other courses (posted soon!)

Preview 01:08
About the Instructor
James Costello
4.5 Average rating
11 Reviews
837 Students
1 Course
Negotiator

I have crafted this course for those who want to learn to negotiate the way that I do at Cars Negotiated, an auto buying service for consumers.

I enjoy the process of negotiating and I love teaching, so please reach out with specific questions regarding your situation.