Negotiation Project: Buying A New Car - Essay Example

Negotiation project Affiliation Negotiation Project I need to buy a new car for my personal use with the best qualities and a low price for traveling with the help of my father. The car is to carry four passengers and will be driven on a highway. The car should withstand long drives and should, therefore, be strong and consume less fuel. The car should be four-wheel drive, fitted with safety belts and other safety devices for the comfort, and have a diesel engine. The car will not carry many cargoes but should offer comfort to children. The color of the car should be white or silver with a spacious boot for luggage. My request is for my father to buy this type of the car, as I love its specifications and quality. Being a four wheel and a strong model, I believe it will serve me for a long time and therefore I kindly request you, dad, to help me acquire it. The car of my choice is unique and available in Boston meaning there will be few troubles in searching for the model. The car that have chosen is Mercury Grand Marquis with the following costs as per its sticker the base cost of 23,000 dollars, and delivery charge of 800 dollars. The dealer will offer the following if I buy the car: put a paint sealant, VIN Etching for the traceability of the car if it is stolen, and an alarm system at the negotiated price (Wilson, 2012). I strongly believe that the car is not very expensive considering its quality, size, and the security installations. If dad buys me this car, I promise to take care of it and maintain it so that I will use it for a long time. The car has the full perimeter frame with two heavy beams running the length of the car in which the wheels are attached to the frame. The reason for a framed car is that it is safer especially after the collision as the damage will be small (Wilson, 2012). The frame will always bear the weight much of the weight of the load in an accident and straightening it is easier than straightening a unibody-framed car. The fact that the framed car is heavy makes it safer for the passengers, especially during accidents. Some of the cars with full frames are Chevrolet Carice, Ford LTD, Lincoln Town Car, Mercury Grand Marquis, and Cadillac Fleetwood. The cars of my choice are Lincoln Town Car or Mercury Grand Marquis. I settled for the Mercury Grand Marquis as the first option, therefore, I kindly request dad to assist me acquire this car as it will help me after I complete my studies. I will need to travel a lot looking for employment opportunities and attending interviews and it will be economical, convenient, and safer for me to use my car instead of a public transport. I also intend to use the car for my future family once I get married before I buy a family car and I feel that if you buy my model car I will be comfortable as I prepare and save for my future car model. BATNA means the Best Alternative To a Negotiated Agreement which refers to the backup plan if the initial negotiation plan fails. The best BATNA for the car of my choice is buying in cash, as the prices are lower than the other methods such as the hire purchase. The highest amount for the negotiation price for models of my choice is 23,800 dollars. However, any price that is lower than that is also acceptable for the preferred model. I would prefer that dad buys the car in cash, as it will cost less than any other method of purchase so that he can save some money for other items. My chosen car does not consume a lot of fuels and I promise dad that I will cater for the fuel consumption charges and other costs from my part-time job. The power output for the Mercury Grand Marquis car is about 190 or 210 hp with the dual exhaust and the initial offer for the car is 23, 800 dollars representing the base price and delivery. The target point is buying the car at 22,980 dollars if the negotiation works to this level. However, if the seller fails to agree to this price 23, 500 will be more acceptable. The walk away point will be if the price exceeds 23, 800 dollars meaning another model with a lower price will be preferable. Looking at the power output and the offers for my model car, it is worth for my father to purchase it for me as it will help me commute from the place of my part-time job and school. I hate arriving late to my workplace and school and it is for such reasons that you as my dear father should buy the car for me. You had promised to buy something valuable for me if I perform well in school and I have done that. My request is to buy the admirable car that will make it easier for me to travel to various places. Negotiation Process Me: father I really need a car for my daily chores especially for my pastime job. The public transport is not convenient as I sometimes arrive late for school and tired as I have to walk for about kilometers after alighting from the public transport vehicle. The car of my choice is Mercury Grand Marquis costing 23,920 dollars cash price including the delivery price and everything else. Father: I will be grand if you, my dear son accept a cheaper model and buy this one later after you secure a permanent job. I believe another model such as Toyota Corolla will serve you in a similar way as this one. Son: I have studied the prices, there is a small difference in their prices, and the quality of Toyota is far much below that of Mercury Grand Marquise. The fuel consumption is also high and may increase its cost in making it more expensive. I promise to take you for a tour in one of the African countries once I complete school and secure a good job, which I believe will happen soon. Father: Alright son, we can settle for your preferred model Mercury Grand Marquise, which will serve all your needs. Son: Thank you very much, father. Lessons Learned There are many lessons that I learned from the car purchase deal and convincing my father to buy it for me especially when somebody is a new buyer one of the lessons is that before starting any negotiations one should know and understand the negotiation process (A Guide to Buying a Car, 2015). Both the seller and the buyer should be comfortable with the final price meaning there must be some give and take in the process. Knowing the market is very important as a buyer so that one can compare prices for various models and avoid buying a vehicle at a price that is higher than intended. It is good to do enough research to understand the market prices for different models and the offers they are giving their potential buyers. For one to make a good deal, one must be confident and have a positive attitude for a successful negotiation. One should also have the limits in terms of the price and the model specifications to avoid quoting one that is not preferable. Sticking to ones higher limit is of great importance as all the parties try to work to their advantage. My father preferred a cheaper model but had to convince him that the slight difference in the prices was not relevant. Low offers do not guarantee the quality of the car and my father agreed with me that my car choice was right and cheaper in the end. Another lesson during the negotiation with is that one should stick to his/her own style by knowing the strengths and weakness before engaging in the deal. Since one is fighting for the right thing, it is advisable to use a lot of power to convince the other party to accept the suggested offer. Another thing is that one should find the right car by looking thoroughly at the dealerships before settling for a particular car. Determining the true value of the vehicle is important for any buyer by going through various websites and doing comparisons (A Guide to Buying a Car, 2015). Printing a list of pricing for similar vehicles from other dealers will help compare prices and negotiate for the model of your choice. After giving my father the other options and their prices, he was convinced that I made the right choice. Another lesson is checking the history and condition of the car before buying especially if it is a used car (A Guide to Buying a Car, 2015). My father advised me to get an independent inspector, as it is important for a new car, as some have stayed in the store for a long period. Before making any offer, one should carry out the inspection and get the history report of the car. Once somebody is comfortable with the offer, one can come to an agreement with the seller and settle at a price. My father could not doubt my model as I presented all my evidence concerning the research I did before settling on the Mercury Grand Marquise model. Patience is good for anybody trying to convince another person to do something of value such as buying a car. One should never be in a hurry as this may result to compromise. One should try to persuade and convince the other party that the presented deal is the best. By presenting several other deals to my father, he was convinced that whatever I chose was still the best. I spent enough time to find out about other vehicles and their prices and left no room for my father to prefer any other option. References A Guide to Buying a Car. (2015). Retrieved 18 June 2015, from http://www.nca.ie/media/GuidetoBuyingaCar1.pdf FTC FACTS for Consumers, (2015). Buying a New Car. Retrieved 18 June 2015, from http://www.fitzmall.com/Content/articles/FTC-Buying-New.pdf Wilson, D. (2012). Negotiate Like A Car Salesman: 5 Tactics To Help You Win Every Time. Fast Company. Retrieved 18 June 2015, from http://www.fastcompany.com/3001209/negotiate-car-salesman-5-tactics-help-you-win-every-time Read More