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Old 04-22-2011, 11:05 AM
 
859 posts, read 2,827,956 times
Reputation: 955

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Asking for the best price or out the door price is a joke and everyone will treat you as such. I've sold cars and it was alway the guys that wanted the "out the door or bottom line" price that ended up with the worst deals.

Walk in, pick you car, drive your car then ask about rebates, discounts, dealer offers etc. You should know all these answers before you walk in anyway along with the invoice price of the car. The only number you are concerned with is the actual price of the car and don't let them stray down the road with payments etc. If they ask why you don't want to discuss payments simply tell them you have arranged financing elsewhere. I wouldn't mention a cash deal until the number is in writing.

Once you have all the discounts in place then make them an offer. 2% above invoice is a fair deal and most dealers will take it. If you're buying an American car most dealers will take 1% about invoice.
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Old 04-22-2011, 12:24 PM
 
Location: Fuquay Varina
6,446 posts, read 9,803,501 times
Reputation: 18349
Quote:
Originally Posted by texdav View Post
It really does make any difference because I've never seen a dealer who turn to finacing until a deal was struck on price. Casdh or credit they get their money when the deal is done.
Not sure when you bought your last car or truck but this is completely wrong! I have known a few car salesmen very well and they DID make money on financing, like someone else said, they ask what monthly payment you are looking to make, they know right away what kind of deal they can push you into.
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Old 04-22-2011, 12:29 PM
 
Location: Northeast Tennessee
7,305 posts, read 28,214,050 times
Reputation: 5523
Thanks for the replies. While I am not certain, I am leaning more toward a 2011 Toyota Tundra SR5 double cab 4wd or a 2011 Nissan Altima 2.5 S. Two totally different vehicles I know, lol. I really dont need a truck, but this is more of something I have wanted and I will only be driving it like 2-3 days per week. I know now that MPGs are an issue and even with the smaller 4.6 V8, the Tundra is a gas guzzler, while the Altima is really good MPG car. 14/18 Tundra vs 23/29 Altima. My main issue with the Altima is that they all have a CVT transmission, which may be OK, but dont know if I could get used to that. The transmission never changes gears for those that are not familiar with these. Guess I will need to drive each and go from there... also considering other big trucks like the F150 and the Ram 1500 (2011 models). I do know that our local Toyota dealer is offering $6000 off sticker price on all Tundras now, but my purchase may not take place for another 4-6 weeks, so not sure how long that deal will go on. They have a Tundra I like now for $29,500 - after the discount, the window price is $23,500.... pretty good for a 2011 V8 Tundra double cab with the SR5 package. Thanks again.
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Old 04-22-2011, 12:35 PM
 
Location: Grosse Ile Michigan
30,708 posts, read 79,764,742 times
Reputation: 39453
A friend of mine does this:

1. Obtain the dealer price information from a consumer reports type of service. This is a special service that you have to pay for. They tell you what the delaer pays for the car and options, what incentives dealers get for selling certian numbers of various vehicles, etc. Sometimes manufacturers offer incentives i.e. If you sell 30 Challengers this month you get and extra $5000 bonus. If a dealer has sold 29 Challengers and it is the last day of the month, that dealer will give you a $2000 discount to get the $5000.

2. Figure out the delaer price, likely incentives available to the dealer etc.

3. Write up a flyer with exactly what you want, the delar price, the amount of profit you are willing to allow (say $500 or $1000). The flyer should ahve your name, phone number and the following:

"I will buy this car within one day from the first dealership who calls me with an acceptance of this offer. I will hang up on anyone who has anything to say other than We accept your offer. Do not call with counter offers comments or arguments. This is the offer, whomever accepts it first gets the sale. Thank you."


3. Drop the flyer off a t ahalf dozen delarships in you area who sell the type fo car you want.

4. Wait for the calls. When they go into a pitch, make an argument, counteroffer, just hang up. Sonner or later someone will accept the offer if it si reaosnable.

By doing this he gets better prices on his cars than they give for almost any other method. However it may help if you have an employee discount - put it on the flyer.
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Old 04-22-2011, 01:43 PM
 
Location: Purgatory (A.K.A. Dallas, Texas)
5,007 posts, read 15,416,797 times
Reputation: 2463
Quote:
Originally Posted by Coldjensens View Post
A friend of mine does this:

1. Obtain the dealer price information from a consumer reports type of service. This is a special service that you have to pay for. They tell you what the delaer pays for the car and options, what incentives dealers get for selling certian numbers of various vehicles, etc. Sometimes manufacturers offer incentives i.e. If you sell 30 Challengers this month you get and extra $5000 bonus. If a dealer has sold 29 Challengers and it is the last day of the month, that dealer will give you a $2000 discount to get the $5000.

2. Figure out the delaer price, likely incentives available to the dealer etc.

3. Write up a flyer with exactly what you want, the delar price, the amount of profit you are willing to allow (say $500 or $1000). The flyer should ahve your name, phone number and the following:

"I will buy this car within one day from the first dealership who calls me with an acceptance of this offer. I will hang up on anyone who has anything to say other than We accept your offer. Do not call with counter offers comments or arguments. This is the offer, whomever accepts it first gets the sale. Thank you."


3. Drop the flyer off a t ahalf dozen delarships in you area who sell the type fo car you want.

4. Wait for the calls. When they go into a pitch, make an argument, counteroffer, just hang up. Sonner or later someone will accept the offer if it si reaosnable.

By doing this he gets better prices on his cars than they give for almost any other method. However it may help if you have an employee discount - put it on the flyer.

We used to get those "flyers". They made great scrap paper.
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Old 04-22-2011, 02:47 PM
 
Location: Grosse Ile Michigan
30,708 posts, read 79,764,742 times
Reputation: 39453
Quote:
Originally Posted by getmeoutofhere View Post
We used to get those "flyers". They made great scrap paper.
Yes, but someone calls him and accepts the offer every single time. Usually two or three of them call. So if you throw out his flyer, he does not care. He just buys the car from someone else. He only needs one dealership to accept his offer. It does not have to be yours.

Who would not want to make $500 or $1000 with essentially no effort. No sales pitch, test drive, nothing. Just sign the papers and go. It is better than not making $500 or $1000. ( I am really not sure what markup he put on them. I rememebr him saying something abotu $500 once and $1000 another time. However, now he buys cars in the $50,000 to $80,000 range, so it is probably more than $1000 mark up on those. It is whatever he felt was reaosnable.).
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Old 04-22-2011, 03:22 PM
 
48,502 posts, read 96,816,250 times
Reputation: 18304
I recommend you go to a site like edmonds.com and get the invoice price and what others are paying in your area. Don't get in a hurry to buy and be will to walk if you can agree.
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Old 04-22-2011, 03:22 PM
 
Location: Purgatory (A.K.A. Dallas, Texas)
5,007 posts, read 15,416,797 times
Reputation: 2463
Quote:
Originally Posted by Coldjensens View Post
Yes, but someone calls him and accepts the offer every single time. Usually two or three of them call. So if you throw out his flyer, he does not care. He just buys the car from someone else. He only needs one dealership to accept his offer. It does not have to be yours.

Who would not want to make $500 or $1000 with essentially no effort. No sales pitch, test drive, nothing. Just sign the papers and go. It is better than not making $500 or $1000. ( I am really not sure what markup he put on them. I rememebr him saying something abotu $500 once and $1000 another time. However, now he buys cars in the $50,000 to $80,000 range, so it is probably more than $1000 mark up on those. It is whatever he felt was reaosnable.).

No salesman is making $500 or $1000 off those deals.

And frankly, for a $50,000+ car, the type of person that would do that is not one a lot of dealerships would be interested in. Nor is that small an amount of profit.
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Old 04-22-2011, 04:09 PM
 
Location: Northeast Tennessee
7,305 posts, read 28,214,050 times
Reputation: 5523
Thanks for the additional replies and tips. I just remembered that my first cousin worked at two different dealers that sells the makes of vehicles I am considering. The more I think of what I want, the more I lean away from the big trucks. MPGs are just dreadful. I looked at the Nissan Titan and they have even lower MPG's. 13 mpg city?!! Of course thats for the 4wd V8, but wow, lol. I made an error on the Nissan, it actually gets an EPA rating of 32 highway, so the MPGs of the Altima are almost double that of the Tundra or Titan.
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Old 04-22-2011, 04:12 PM
 
Location: Texas
44,254 posts, read 64,332,595 times
Reputation: 73931
Quote:
Originally Posted by Tourian View Post
Sometimes they give you cash rebates in lieu of special financing, so just be up front about it. The salespeople and the sales manager generally don't care if you are paying cash. It is usually only the finance manager who is upset because you aren't financing, and you won't meet him until you've agreed to terms. You can look online and see if there is a cash rebate offered on the car you want. Most times it is advertised on every where. something like get 1.9% OR $4000 rebate. You want the $4000.
Disagree, disagree!

Do NOT tell them how you paying until you've negotiated the price.
They are expecting to make up the price with add-ons and financing.

I negotiated down a price. We agreed. THEN I pulled out my 500 dollar off coupon...and THEN I told them I was paying cash. The look on their faces was priceless.

OH, and don't just play the local dealerships against each other. Play out-of-town dealerships against each other. My buddy got TONS off his Jag XFR by finally going with a Houston dealership (instead of a local Dallas one). They delivered it for free.
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