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I worked at a car dealership, and car shopping with a friend made me realize people miss 4 big opportunities to negotiate

I worked at a car dealership, and car shopping with a friend made me realize people miss 4 big opportunities to negotiate
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While working at a car dealership, I learned there are a lot of factors up for negotiation when you're buying a car. While car-shopping with a friend recently, I realized most people think their only chance to negotiate is on the price.




However, interest rates, warranty and protection services, and even trade-in values are negotiable. And by starting your negotiations based on the invoice price instead of the MSRP, you can save more.




By negotiating on the interest rate and the price of the car, and by eliminating unnecessary maintenance plans, my friend and her mom were able to lower their car payment.




Read more personal finance coverage.



I used to work at a car dealership, so naturally, I'm that friend that you bring car shopping. This past weekend, my friend and her mom asked me to go to the local Hyundai dealership with them, and I agreed to tag along.
Their car-buying process reminded me that many drivers don't think to negotiate on several parts of their car purchase: everything from the price to the interest rate is up for negotiation.

1. Everyone knows you can negotiate on a new car's price, but they look at the wrong price to start


Most people know that you can negotiate on the price of a new or used car. But, many don't know that they're actually thinking about the wrong price. Most people start their negotiations based on the manufacturer's suggested retail price, or MSRP. But, the figure they should be thinking about isn't listed on the sticker: the dealer invoice price.
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