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LEA 6180 SU Strategic Automobile Purchase Negotiation Essay

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South University

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Automobile Purchase Negotiation
Barton E. Lord
Leadership and Management South University
LEA6180 Strategic Negotiations
Dr. Mohammed Mirza
November 9, 2020

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Negotiation Exercise 2
Introduction and Negotiation Background Phase
This negotiation centers on the anticipated purchase of a 2014 Chevy Impala automobile
through Craigslist. The advertisement lists certain particulars of the vehicle, including optional
equipment and a damage assessment. Mileage is 57,000 miles and new tires were installed at
40,000 miles. Damage is minor, such as small dents and scratches, the vehicle has been
maintained and needs new brake pads. It is a one owner vehicle with no accident, flood damage
or other major factors impacting the price. The vehicle is advertised as having a clean title.
Asking price is $15,500.
After full research on the vehicle based upon description accuracy, the final price
negotiated was $13,995. I was the buyer of the vehicle and the seller was an individual living
locally in Nashville, TN, zip code 37205.
Negotiation Preparation Phase
Phase one of a successful; negotiation is negotiation preparation (Lectures 1, 2020). This
entails research based upon the available information to structure a strategy and pricing matrix
for the vehicle.
Checking the valuation of the vehicle is step one. Reviewing the valuation through Kelley
Blue Book (KBB) allows for the delineation of interior and exterior options and conditions,
standard equipment, mileage, and overall condition to provide a zip code-based valuation for the
vehicle. There are three types of valuations related to this negotiation: Cash offer, Trade-in,
Private Party Sale (Kelley Blue Book, (n.d.)). Assuming accurate conditions represented, the
vehicle private party value is $13,131 to $15,696. Median Private Party Value is $14,414.

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Automobile Purchase Negotiation Barton E. Lord Leadership and Management – South University LEA6180 – Strategic Negotiations Dr. Mohammed Mirza November 9, 2020 Negotiation Exercise 2 Introduction and Negotiation Background Phase This negotiation centers on the anticipated purchase of a 2014 Chevy Impala automobile through Craigslist. The advertisement lists certain particulars of the vehicle, including optional equipment and a damage assessment. Mileage is 57,000 miles and new tires were installed at 40,000 miles. Damage is minor, such as small dents and scratches, the vehicle has been maintained and needs new brake pads. It is a one owner vehicle with no accident, flood damage or other major factors impacting the price. The vehicle is advertised as having a clean title. Asking price is $15,500. After full research on the vehicle based upon description accuracy, the final price negotiated was $13,995. I was the buyer of the vehicle and the seller was an individual living locally in Nashville, TN, zip code 37205. Negotiation Preparation Phase Phase one of a successful; negotiation is negotiation preparation (Lectures 1, 2020). This entails research based upon the available information to structure a strategy and pricing matrix for the vehicle. Checking the valuation of the vehicle is step one. Reviewing the valuation through Kelley Blue Book (KBB) allows for the delineation of interior and exterior options and conditions, standard equipment, mileage, and overall condi ...
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