Just watch Richard Rawlings on Gas Monkey Garage and follow his lead.

 

If I'm selling I tell the low ballers to go away, if they start negotiating on the phone I tell them to waste someone elses time. When I sell I only want to deal with buyers that have the money I'm looking for, which is $500 less than advertised. Advertising is free, my time isn't.

When I buy its a whole different story, everything is a pile of junk and you should be grateful that I showed up. Be nice to me as your the one in love with the vehicle, not me, I'm the guy with the money. If it's a parts truck I'm buying, I'm looking for as much truck as I can get plus the parts I want. If its ugly as sin, I'm somewhat interested, if it has a metal flat deck and hydraulics attached to it, yeah I'll think about it. If it runs smooth and strong also, I'll give you next to nothing for it as its ugly as sin and everyone knows it.

 

A copy and past from some info I updated and posted a while back. "Cash talks, and BS walks or at least leaves without the truck, be serious about the ALL the issues found and what you might OR WILL need to address as soon as you buy it. Mention that to the owner, he might understand or maybe not care at all.

Have your 1st CASH offer in one pocket and the rest of what you are willing pay in the other. Flash the cash, in a stack of 20’s, 50’s or 100’s, that always make it harder for the owner to say no.

Have fun, but remember it’s not the only truck for sale, and try not get caught up in the moment, yea right it’s a Ford truck man!."

I go with all the cash to pay what ever the guy is asking. I mean why go truck shopping without the money to buy the truck in the 1st place? The truck might be worth all the guy is asking? I insp the truck, I make a some what lower than what I am willing to pay 1st just to get the ball rolling. I do not make a BS low ball offer, I make a realistic offer based on what I think the truck is worth.

And then we go from there, bottom line you are trying to get it for a cheap as you can (to save your money) and the seller is trying to sale it for all its worth. Some times it is not worth as much as the seller thinks it is.

Pull out cold hard CASH and start counting it out on the hood, that gets the ball rolling fast. When I purchased the blue truck I paid close to what the guy was asking, it was well worth what he was asking.

As a seller, I always start a little higher and that way you have some room to come down to make the sale happen. And still make a little profit or at a minimum break even.

 

If a guys starts spewing about being all cash my number goes up... That means he is prepared to buy on the spot and my price is low. I want a buyer to have to think about it for a while and then get back to me.

 

VERY good points made here. I worked the seller of my truck down from 2500 to $984 plus a beat old stick welder. It was worth no more than $984.

 

Sometimes, I offer less, or won't even make an offer if the price is ridiculous. If a truck is priced reasonably, I don't have a problem paying the asking price. In one situation, I paid more than asking because the value was there and in my opinion, the seller had underpriced it. Why would I do this? Sometimes the tables are turned and I am the seller and I don't like dealing with low-ballers either. If both the seller and buyer understand fair market value then chances are they will make a deal that is fair to both parties. Some people still ask crazy prices for junk. I always get a kick out of some seller's vehicle descriptions--here are a few of my personal favourites:
1. In great condition for it's age!
2. Restorable condition.
3. Needs a tune up.
4. 1979 F150 with rare factory 351C.
5. Minor rust.
6. Ran well when parked 5 years ago.

 

I've had people ask me this and when I give them the figure, they go lower. When that happens, I tell them the sale is over for them. They then try o offer my bottom line and I tell them my line has changed. Since they didn't listen, it was going to cost them.
I also find it amusing when people say it needs tires, a muffler, window seals or anything else. My reply is "I spent the money for these and got my use out of them. Why would I spend the extra money for you to get the use out of it?"

 

I do this on and off as a part-time job and have been relatively successful at it over the last 30 years. Some seriously notable scores: 65 Shelby, a pile of mopar rarities, a few vettes, etc, etc. Ive learned a few things about negotiation tactics. Rule number one. DONT GET SHOT. Seriously. People will get nutty if they don't like your offer and your standing on their property. Especially if it didn't have a for sale sign on it to begin with.


Number two: If you see a gray beard and camo hunting clothes, just walk away. I wont even bother. Their is absolutely no negotiation with these people. They've already got a price of 50 gazillion million in their heads, and they wont take a penny less. The more you stand their and point out what an unfortunate disaster their vehicle is, the higher the price gets. They price their vehicles like solid gold because they saw an episode of barret-Jackson/mecum etc where the same vehicle in mint condition vehicle crossed the auction block for 5 figures. Its always the same old story: "I done know what I got, its rare, its got da 6 foot bed and the 390 Cleveland and Muncie toploader. I fixed dem floorboards myself with an old stop sign, and Im not just giving it away buddy."....graybeard and hunting clothes? just walk away. Let it sit there and rust like the other 40 overpriced rusty heaps in his yard. You can score it for scrap price at the estate sale in a few years anyway.


CASH SPEAKS. Best scores are from reasonable people who got bored with a project, divorce sales, college kids who didn't realize what they were getting themselves into, father/son project purchases where the kid wants an import and dad has no time for it, estate sales and auctions, and ALWAYS ALWAYS ALWAYS negotiate when the wife is standing there! I cannot tell you how many times this has worked in my favor. Wives, when faced with the prospect of getting ANY amount of money and moving junk from the property simultaneously, wives will lowball the husband FOR YOU, and demand the sale. Its the perfect crime.


Also, best time to buy is right before and after Christmas. People need and want money and are willing to let the goods fly for much less than youd expect if you've cash in hand at this time of year.


Happy hunting.

 

I have been a part time antique,memorabilia,car parts,etc,etc, picker- buyer- seller and collector my entire life. (hence "vtpkrat" screen name) Got the itch for this stuff from my mom.I am always more than willing to pay what something is worth. I am looking for a DEAL but don't need to STEAL something.IF something is priced way to high I'll ask "are you real firm on the price?". That will get the conversation down to the reason you're there. If overpriced and no chance I'll thank them and walk away. Selling.... I will do research on the item no matter what it is;try to price it lower than others are asking and leave just a bit of room to come down in price if needed. Asking a price twice the value of something is a waste of my time. A silly game. Low ballers when I'm selling are not given any of my time but I will still give them a "thank you for the offer,good luck finding one". Arguing with some donut head is time you'll never get back. I could write a book on going into the old homes,hunting camps,yard sales over 50 years. A million stories, most good or funny! gary

 

Really, sounds like you do not like money, so will you take a bushel of corn and 2 hogs for that truck? lol Jk

If you ask X amount and I say "you want that in cash"? you up the price? How does that work?

Life is like eating a shiet sandwich, the more bread you have, the less shiet you eat.

 

Now that's funny right there!

 

If I think someone is asking a fair price for something, I won't make a lower offer. If I think it is slightly overpriced, I will make them an offer of what I am willing to pay one time with no whining or nit-picking of their item. I will not ask someone what their "bottom dollar" price is and I don't like it when people ask me the same.

 

I recently negotiated a 75' for a friend of mine. CL ad said $4000. Went to look at the truck and body wise if was a fantastic truck. Has rust in one fender behind the trim, but the floor pans, bed floor and rest of the truck are rust free. The gas tank was out of it, and the truck wouldn't fire up. The owner tried convincing me it would fire with starting fluid, so I gave him the chance. He was out of starting fluid and shot WD40 down the carb as his buddy tried to crank it. I was slightly amused when he said it starts for him on WD40 all the time.

I called my buddy and let him know that in my opinion, the truck was a body only purchase and the engine and tranny were not necessarily bad, but I couldn't honestly verify that they were good either. So I asked him how much he was willing to pay with this info. He gave me a budget of $1500.

I went to the seller and asked him if he thought he could get the truck started if I went and got a can of starting fluid or if we squirted some gas in the carb. He told me he didn't wanna bother with it. I informed him that $4000 was really steep when it comes to a non running truck with some rust issues (although I really don't consider a rusty fender an issue) and asked him what he felt was a more fair price. He told me that he put $4000 as a "don't wanna sell it but for this amount I will" price, and he never expected it to sell. He asked me what I thought the price should be. I told him I wasn't selling the truck, he is the only one here who knows what he has in it, and what he will feel okay about getting back out of it. He told me he bought the truck running for $1300, and he bought a battery for it for another $100, so he has $1400 in it, he'd like to get that out of it.

We established a price. I reminded him it was running when he got it and that $1300 was a really decent price for this truck in running condition. I offered $1000 and we agreed on $1100.

When I say "bottom price" or "make it hurt a little"... This is what I mean. $4000 for this truck if I could drive it home was more then reasonable. Every deal is different, and every situation calls for a little finesse. I never bring cash, I never wanna seem that anxious. I have a take it or leave it attitude, because in most cases I really can take it or leave it. I always have a stopping point, and if the negotiation goes $50 over that point, then we don't have a deal.

 

I think this was the best advise. The beat up dent-side with no engine was owned by the gray beard camo hat guy. The only thing in his yard that I would buy was his bloodhound sleeping in the driveway (I love bloodhounds). He just was not budging on his price, at all.

 

I agree with those HATING it when people straight up ask "what's your bottom dollar?" especially without even seeing the vehicle or asking any questions. I always respond with what ever price is in the ad. Duh!

What entertains me, is when you're selling something for say $2000 and someone will text or email an offer of "$750 cash in hand today!" like they're doing you such a favor. I like to say yes to these people and watch how many of them never contact me again. It's like they're never serious, but for some reason I like putting them on the spot for wasting my time, lol.

As far as what I do when buying - pretty simple. If I can't get 20% off an already reasonably priced vehicle then I walk. Too many options out there and it's too easy to find a good deal. I also recognize that dang near NOBODY posts their rock bottom price. Haggling is half the fun, but you also have to read the seller.

The question that seems to get the best reaction is simply "How firm are you on your price?" No insult, no bashing their vehicle, just feeling them out. I've had people knock several hundred $s off the price just by asking that. Also had them say "I'll take asking price and not a penny less. If you don't like it, take a walk." Also, try to make a personal connect with the seller. Share a cool story about something related to the car. People are MUCH more willing to deal to someone that is nice and polite, rather than a hard assed haggler who insults the car. Bashing on the condition of the car can easily insult and really **** off the seller - some of them take it as a personal insult. I have a friend who's burned himself on several deals because he took something too personal. He had one guy about to pay asking price on an old waaaaayyyyy over priced ATV, but ended up telling him to walk after the guy said the atv was "rode hard and put away wet." Ended up selling it for about $500 less a couple of weeks later

Be friendly, be reasonable, be respectful...