Negotiation involves the process of discussing an asset's terms of sale between a buyer and a seller. It is usually associated with higher priced items, such as a vehide, home, appliance, or other major (long-lived and expensive) asset. The process of negotiating involves: O making offers and counteroffers for the terms of the transaction. O making demands and then dictating the terms of the transaction A variety of different elements associated with a vehicle's purchase are negotiable. Which of the following aspects of a car purchase transaction can you negotiate? Check all that apply. The vehide's safety features, such as the presence of safety belts and air bags The loan's interest rate and term (length) The price of options in the vehide The old vehide's trade in value What tactic do car salespeople and their managers do to minimize buyer negotiations? They push for the buyer to buy it now. They say to the buyer, "Take all the time you need, visit other dealers, and call me when you're ready Amy is completely intimidated about the thought of negotiating the price of a new car. She's called you and asked for a quick lesson in price negotiations. You've offered to help her understand several basic rules that should make her negotiations more successful. Which of the following statements will increase the effectiveness of her price negotiations? Check all the app U Separate the price of the vehide from the financing or trade in aspects of the transaction. O Stop negotiating after one cycle of offer-counteroffer. Tell the salesperson that you have obtained offers from at least three other dealers and he or she has the opportunity to meet or exceed their best offers. Be knowledgeable about the cost of the vehicle before negotiating, and be prepared to walk away from a transaction that involves terms that are not in your best interest. After listening to your advice, Amy is now considering using a buying service or a pressional shopper, but she's not clear on how either type of service works. According to your research, you've determined that: A new vehicle buying service requires the buyer to pay a discounted price from a dealer that has agreed to participate in the service. negotiable Amy will pay a price that is often within of the price. In turn, the buying service receives its income from the in the form of a finder's fee. nonnegotiable i hand channes a fee that is based on the vehicle's invoice price and is paid by the As opposed to m u collect price quotes from several A new vehicle buying service requires the buyer to pay a discounted price from a dealer that has agrueu lu paluupului service. - Amy will pay a price that is often within of the dealer's invoice price. In turn, the buying service receives its income from the in the form of a finder's feer A professional shopper, on the other har pes a feel that is based on the vehicle's invoice price and is paid by the As opposed to actually purchasing the vehide on the b 4% phalf, the buyer can also ask the professional shopper to simply collect price quotes from several dealers. This service costs but requires that the buyer finalize the deal. If Amy wants the challenge of negotiating her best deal and completing the deal herself, then she should: Use a professional shopper Buy the car herself Use a new-vehicle buying service Save & Co Grade It Now Continue without service Amy will pay a price that is often within of the dealer's invoice price. 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