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A long time ago, in Norfolk VA, I was at a dealership w/ a friend that had some business there. I wasn't buying a car, but just wandering through the showroom. They had a 67 Camaro that had been tricked out. Had roll cage, a 427 engine, the rear interior had been removed and wheel tubs put in to house the huge tires, and had a 2 speed race automatic transmission in it. Salesman wandered over and told me that this was an "all original Z28".
Knowing something about Camaros, since I happened to own a 67 at the time and had researched their history quite a bit, I proceeded to tell him that every single 1967 Z28 had come from the factory with a 302 small block engine and a 4 speed manual transmission. He kept trying to convince me that it was factory original until I left.
Whenever any salesman tries to "reduce to the ridiculous", meaning who wouldn't, why wouldn't you want this great vehicle, TV, furniture whatever for just an extra $1 per day, $7 a week.....it is just the cost of a couple cups of coffee.
Flip it on them, if it is such a small consideration then you shouldn't have an issue with taking that amount off the price, after all it is just a couple cups of coffee!
Anytime you are spending money, bring a calculator (though most smart phones have them built in). $1 a day is $1825 over a 5 year period (in the case of a car loan/5 years) plus accruing interest.
Next time I buy a car I am going on truecar/edmunds/whatever the sites are that give you the "true market value" (which is usually close to invoice). I am going to inquire with 3 or 5 dealers and ask for the BOTTOM LINE VIA E-MAIL - whoever can provide this will get my business. Whenever the day come that we buy cars online and show up to pick up the keys will be a good one. heck, they should deliver them to us.
FWIW, I just checked Edmunds and TrueCar on identical vehicles and True market value is off by $1000 between the 2 sites. interesting.
email the "internet manager" or whatever they call themselves.....get quotes from surrounding dealers and don't show up at the dealership until you are picking the car up!
My sister did this on a leased BMW, she hit 10 dealerships (one didn't offer internet sales, the other 9 responded with quotes). The difference in monthly lease quotes was $90 a month from highest to lowest! Some guys tried hard, others just threw a high number. $90 on a 36 month lease is $2700 plus tax!
Whenever any salesman tries to "reduce to the ridiculous", meaning who wouldn't, why wouldn't you want this great vehicle, TV, furniture whatever for just an extra $1 per day, $7 a week.....it is just the cost of a couple cups of coffee.
Flip it on them, if it is such a small consideration then you shouldn't have an issue with taking that amount off the price, after all it is just a couple cups of coffee!
Anytime you are spending money, bring a calculator (though most smart phones have them built in). $1 a day is $1825 over a 5 year period (in the case of a car loan/5 years) plus accruing interest.
See now you are assuming the average car buyer is not a impulse buyer or actually sits back and educates themselves about what they are buying. Most people buy a vehicle based on monthly payment so the dealer can easily pad the price with the "it's only a few bucks more" tactic. And most fall for it.
email the "internet manager" or whatever they call themselves.....get quotes from surrounding dealers and don't show up at the dealership until you are picking the car up!
My sister did this on a leased BMW, she hit 10 dealerships (one didn't offer internet sales, the other 9 responded with quotes). The difference in monthly lease quotes was $90 a month from highest to lowest! Some guys tried hard, others just threw a high number. $90 on a 36 month lease is $2700 plus tax!
This is what we do............funny my buddy just flew into DC from Jax to save over $4500 on a 2014 BMW. Local dealer would not deal (only one in a large area). Cost my buddy a $200 plane ticket and a 11 hour drive. To him it was worth it and the principle of it.......others do not have the time or patience and are willing to pay. For me that several thousand dollar difference means a lot to me
Where I drive salespeople nuts is that I am NOT one who can be sold based on a payment. I look at the whole package: Got my payment covered, but wait, I got good credit and this is a 72 month loan at 18%, why can't you do 54 or 60 with the same payment at 6.9%? If there is no piece on the windshields, I walk. If the internet ad does not have a price AND odometer reading, I move on. I decided that the next time (soon) that I buy a car, I will bring a pre made list of terms and conditions that need to be satisfied. You know how salespeople try to make you list on a form and sign, the deal terms under which you promise to purchase. Well, next time mine will e done in advance, it will be achievable and reasonable, hence if the dealership says no go, it's on them.
The dealership I bought my car from sends me those "We need your car. Inventory is low" letters from time to time. I got one last week saying they were prepared to give me UP to $5,700 for me car in trade. It was in bold and the letter tried to make it sound like such a deal! It's an '07 GT Mustang convertible with less than 45k miles. I looked up the KBB trade in estimate. While not gospel, it's a good amount more than $5,700.
My brother has a coworker that knew this guy that went in to a dealership wanting to buy a used Lexus GS. They were asking 39k for it but he figured they had it marked up at least 10 grand. He tried to negotiate them down but they wouldn't budge plus he had bad credit and was negative equity in his trade and no money to put down. They tried to switch him to a new VW instead that had some rebate money. Instead, he walked - figuring they were all thieves and that's what he would tell everybody instead of owning up to the fact that he was on too much car to begin with and that they were just trying to put him on a car that they could sell him. He went down the street and bought a new Optima which he thinks is better then that 1 year old Lexus anyway.
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