Alternatively, have another offer in hand. CarMax is a good way to establish a minimum quickly and easily. You can always get more in the private market, but you should weigh the trade-offs in speed of transaction. (E.g., I could spend 10 hours and the next 2 weeks posting on Craigslist and dealing with people and get $12k, or I could sell to the dealer now for $10k. That might be worth it to me.)
I've done this a couple times: the first time the dealer came back with a better number, and I took it. The second time the dealer was way low and I sold on the private market for 100% more.
The real key is to separate out variables. Negotiate only on the bottom-line cash value of the car(s), and know when to walk.
Last car I bought, the dealer tried to play hardball and told me there was another individual looking to purchase the same vehicle for more. I told them to take the other offer, and put my coat on. I should have gone over and introduced myself to the other guy.
I've done this a couple times: the first time the dealer came back with a better number, and I took it. The second time the dealer was way low and I sold on the private market for 100% more.
The real key is to separate out variables. Negotiate only on the bottom-line cash value of the car(s), and know when to walk.
Last car I bought, the dealer tried to play hardball and told me there was another individual looking to purchase the same vehicle for more. I told them to take the other offer, and put my coat on. I should have gone over and introduced myself to the other guy.