Car Negotiations: Strategies and Success

NB: We do not resell your papers. Upon ordering, we do an original paper exclusively for you.

NB: All your data is kept safe from the public.

Table of Contents

Introduction
Main body
Problem-Solving Phase
Resolution Phase
Conclusion
References

Introduction

I accepted the role of a car buyer since I am interested in what aspects are included in the purchase of a car and what is essential to know when communicating with the seller. Moreover, I am interested in buying a car in the future, and this exercise can help me prepare for this procedure. During the negotiations, the sale of the 2014 Chevrolet Impala LT with a mileage of 57,000 miles was discussed. The main characteristics of the car include a 3.6 liter, 6 Flex Fuel engine and the presence of traction control and ABS Power door locks, power windows, and power seats. The safety of the car is ensured by the presence of all airbags, and a comfortable stay inside the vehicle is supported by Air-conditioning and radio with AM/FM and MP3. The exterior and interior design of the car, premium wheels, steering wheel, and updated tires were especially attractive parts of the offer. These characteristics were substituted on the online source where the car was found.

Main body

At a personal meeting with the seller, I, as a buyer, was interested in a more detailed description and inspection of the vehicle. This allowed us to find information that was initially withheld by the owner of the car. This step is being taken to attract more attention to the offer, mainly because this model is considered a cult in the American market. Thus, during the inspection, I learned from the seller that it is necessary to replace the brake pads and other routine maintenance, which is required by the car due to its age. In addition, the vehicle had a scratch on the front bumper and three minor dents on the passenger door. The seller assured me that this was not the result of an accident but could have occurred due to accidental close contact with other cars in the parking lot.

In addition, the interior of the car had signs of use, such as wear and tear on the driver’s seat and two minor stains on the rear seats. The positive aspect, which seemed to me an advantage, was that the car had only one owner. Thus, I can be sure that no third-party modifications were made to it, which may eventually become a problem and require many repairs. This point of view was also reinforced by the fact that the vehicle had a clean title with no indication of flood, accident, or other significant damage.

Further, the negotiations moved on to discussing the cost of the car. The starting price for Chevrolet was $15,500, which was an acceptable price. Market research has shown that the average price for this model of the vehicle varies from $ 6,000 to $ 23,000, depending on the characteristics (“Used 2014 Chevy Impala sedan,” n.d.). Cars with similar characteristics have a cost of about $ 18,000, which is not much different from the price offered by the seller.

During this stage of negotiations, information plays a significant role. Thus, within the framework of this interaction, its retention left a negative trace and undermined the credibility of the seller. Even though the car had many positive characteristics and an acceptable price relative to the market, I began to think that the second participant in the negotiations might be hiding something. To maintain the negotiation effort, in the process of information exchange, I would ask the seller to indicate all possible shortcomings of the car. Therefore, it would allow me to form a complete picture of the vehicle before a direct meeting with the seller.

Problem-Solving Phase

The first offer was made on my part after I found the car on an online source. My initial position was to consider a car for purchase at the proposed price. At the same time, after finding some shortcomings and doubts about the reliability of the seller, I changed my position to the desire to get a discount. This was due to possible future repair works and the updating of some external and internal parts.

Regarding the strategy, both negotiators used a collaboration strategy. Research stated that “instead of attempting to dominate the counterpart, a collaborative approach seeks to work together with them to deliver value for everyone” (General News Article, 2022, para. 1). Thus, the seller and I immediately told each other about our interests and the desired outcomes of these negotiations (Preston, 2022). This allowed us to gain an understanding of what the participants were set up for, which allowed for smooth communication. Another contribution was a crucial aspect in building fairness in the process. I can say that I would not change anything at this stage, as it passed with the satisfaction of both participants.

Resolution Phase

The outcome of these negotiations was the decision to reduce the cost of the car by $ 900 due to the shortcomings found, which were not discussed initially. Moreover, the role was played by the fact that the car, despite its good condition, required some comprehensive internal repairs. This decision was satisfactory for all participants in the negotiations. This also made it possible to limit other alternatives, but one of them could be the seller’s refusal to reduce the price of the car due to the initial cost being below the average market. Both parties rated the process as successful and productive.

It is worth paying attention to the fact that this phase is as important as the previous ones. This is because at this stage the most careful consideration of the decision and the terms of the agreement between the negotiators is necessary. It is necessary to determine all possible conditions of the contract, and the conclusion of the necessary documentation. Regarding the process of buying a car, it is also important to pay attention to “the interest rate, the loan term, and the value of the trade-in” (Montoya, 2022, para. 28). These aspects may seem quite difficult to understand, especially with the first experience of concluding such contracts. In such cases, specialists can be involved in negotiations who will assist both the buyer and the seller to avoid possible further problems.

Conclusion

In conclusion, the conduct of negotiations includes many important aspects that all parties involved need to follow. Therefore, I learned that it is necessary to initially discuss not only the advantages but also the disadvantages of the purchase to gain a complete understanding of further actions. Moreover, the process of exchanging information, wishes, and expected results of negotiations between the participants has become valuable for me. This allows getting rid of misunderstandings and conflict situations during the process.

References

Used 2014 Chevy Impala sedan. (n.d.). Edmunds. Web.

General News Article. (2022). Understanding the collaborative negotiation style. Sun Prairie. Web.

Montoya, R. (2022). How to buy a car. Edmunds. Web.

Preston, P. (2022). The 6 stages of the process of negotiation. Indeed. Web.

Click Here To Order Now!