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Old 04-15-2008, 12:42 AM
 
Location: Downtown Houston
59 posts, read 303,124 times
Reputation: 34

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hey guys i'm a soon to be college grad and i wanna get a new car but i don't know exactly how it works and i don't want them to rip me off! lol. so just a few questions. is there really any bargaining power? some people say there isn't really any and others say there is! like lets say msrp is 34k how much do they really go down? whats the avg APR for someone my age but with excellent credit.. i'm 22. i've been looking into the G37. what do yall think about this car? will there be more bargaining power when the 09 model comes out? any input would help!!! thanks so much
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Old 04-15-2008, 01:38 AM
 
Location: tampa, florida
190 posts, read 614,085 times
Reputation: 66
Quote:
Originally Posted by qt_batutie24 View Post
hey guys i'm a soon to be college grad and i wanna get a new car but i don't know exactly how it works and i don't want them to rip me off! lol. so just a few questions. is there really any bargaining power? some people say there isn't really any and others say there is! like lets say msrp is 34k how much do they really go down? whats the avg APR for someone my age but with excellent credit.. i'm 22. i've been looking into the G37. what do yall think about this car? will there be more bargaining power when the 09 model comes out? any input would help!!! thanks so much
on new cars, its tough to get the price down much, but then again, with the economy like it is, just let them know you want the car, but let them think you've been elsewhere to buy and keep the ball in your court. buying a new car is exciting, but make it like you've done it before and you don't really care if you get it or not

i usually ask what they can do on the price, then say thanks, here is my number and if you can do better, call me. then walk right out. they may stop you at the door, but if they dont, they will call because they want to sell that car.
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Old 04-15-2008, 05:07 AM
 
3,551 posts, read 7,402,346 times
Reputation: 2340
I'm not sure about the G37 but just about every new car is "soft" in every market in the US. I looked at the G35 a couple of years ago, but decided against it. I've only bought ONE new car in my life, 4 years ago (Lexus).

Everyone says that Lexus dealers WILL NOT NEGOTIATE, but by researching and sticking to what I wanted I got 10% off of list.

I realize that you're celebrating graduating and all but you do know that "new" cars make a terrible investment. Their biggest expense isn't the payment or insurance but the monthly LOSS OF VALUE.

Also due to your age you're probably going to get hammered on insurance for a "performance" model like the 37.

I don't think I can reference other websites here, but if you'll PM me I'll direct you to the site where I got all my info on negotiating.

Good luck and congratulations on your degree.

golfgod
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Old 04-15-2008, 05:39 AM
 
Location: Earth
4,237 posts, read 23,217,546 times
Reputation: 2247
Let me say one thing about this. When you buy a new car, naturally the dealer is going to try to get you to pay the most you can, today. He wants you to spend as much as you possibly can now, and buy today.

The reason is because he is paid on commission and makes money on every car he persuades someone to buy. When going to a dealer it may seem as if the dealer is pushy and in control, however it is YOU who is really in control. And if the salesman isn't willing to meet up to your expectations, you can leave. Trust me it will change his mind in a hurry.

With that said, my recommendation is to find out as much as you can before you buy about the car. Find out what it costed them new, find out what options it has, find out how much you are willing to/can afford to pay every month.

When you do go to buy, remember you are in control. If you can only afford $350 a month don't let the salesman try and get you to pay $375 a month. He will do everything he can to try and tell you, that you're low balling him, simply because the more you pay up front, the more goes in his pocket.

Be firm, but not ridiculous on what you are willing to pay for the car/pay every month and don't budge or you will put yourself in a bigger financial hole.

If you are trading in your car, find out what the trade in value is, and DO NOT let them give you any less that what it is worth. Plus keep one extra key to the car to yourself because if you want to leave (due to the salesmens in cooperation) they'll already have your other key with the car around back and will have some sob story on how they lost it and can't find it.

Also don't fall for some of the stupid gimmicks these guys try and play on you. For instance the dealer will insist you need to spend an extra $50 for the "interior protectant" which is nothing more than a $3 can of Scotch Guard available at Wal Mart. You see what I mean?

Remember car buying is a game of strategy but if you know the cards, you can win the salesman over to where you have the final say, not him or the dealership. Let the dog wag the tail, not the tail wag the dog.

Pick yourself up a book on this, you will learn a lot. I did. And when it came time to buying from the dealer, he knew (and even later admitted) I had him over a barrel. In the end I came out pretty good.
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Old 04-15-2008, 11:47 AM
 
Location: Downtown Houston
59 posts, read 303,124 times
Reputation: 34
wow guys thanks for your input ..this is good stuff
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Old 04-15-2008, 02:27 PM
 
Location: Southwest Missouri
1,921 posts, read 6,021,297 times
Reputation: 924
Here's a few tips that should serve you well:

* Know exactly what you are willing to pay for a vehicle before you ever walk onto the showroom floor of a dealership. If you don't have a game plan before you get started, you're most likely to get a poor result.

* Do not negotiate a deal based on a vehicle's monthly payment. A common tactic for a salesperson is to ask what you want your monthly payment to be, and then keep you focused on that number. DON'T DO IT! Focus on the purchase price of the vehicle. Period.

* If you're going to finance the purchase, explore financing options before going to the dealership. Shop around for the best rates (unless taking advantage of manufacturer incentives like 0% interest).

* Avoid all dealer add-ons (paint sealer, stain protectant, etc). Also be aware of added charges like Documentation Fees. Doc fees are simply a surcharge (read: profit) added to the purchase price. Some dealers charge them and others don't. Sometimes you can get them waived and sometimes you can't. In the end, just focus on the bottom line (going back to point #1). If you reach the price that you want, it doesn't much matter how the dealership writes it up.
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Old 04-18-2008, 06:20 AM
 
Location: Earth
4,237 posts, read 23,217,546 times
Reputation: 2247
Quote:
Originally Posted by 8 SNAKE View Post
* Do not negotiate a deal based on a vehicle's monthly payment. A common tactic for a salesperson is to ask what you want your monthly payment to be, and then keep you focused on that number. DON'T DO IT! Focus on the purchase price of the vehicle. Period.

* If you're going to finance the purchase, explore financing options before going to the dealership. Shop around for the best rates (unless taking advantage of manufacturer incentives like 0% interest).
Ditto. I agree. I did this when i bought a truck once for $7700 (+ $500 for tags and tax), dealership said they'd finance it for 13% interest, but I knew that was b.s. because I had taken out an unsecured loan for $6k only a few months earlier at 10.75% interest, I ended up getting fiananced elsewhere for $7200, I think it pissed them off though.

That's where monthly payments come in, is off the financing, but the dealer will try and get you to pay more a month so more goes in his pocket as his commission.
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Old 04-18-2008, 09:17 AM
 
3,699 posts, read 10,819,661 times
Reputation: 2630
Have your financing in hand when you walk through the door of the dealership.

You don't need rust protection or scotch guard. You don't need an extended warranty.

Negotiate ONLY on the full price of the car, not on the monthly payments.

If you have a trade in, negotiate on the value of the trade-in after you have agreed on a price for the car. When they try to get you to focus on that, just tell them that we're not done talking about the price of the car you're buying.

Don't be afraid to walk out. You don't have to make the deal, and if you think you're getting screwed or mistreated or taken advantage of, you probably are.

If you have a trade-in, bring an extra set of keys with you. They will take your keys so they can look over the car, and you'd be surprised how hard it is for them to find the keys if they don't want you to leave yet. They manage to find them pretty quickly when you pull your other set of keys out of your pocket.

Bring a book or a magazine. When they get up to go talk to the sales manager, pull out the book. Or, better yet, get up and stretch your legs. Get a drink of water. Step outside for a minute. Don't sit at the sales desk and stew.

If you have to take out a loan for more than 48 months, you can't afford the car. You don't want to be upside down on the loan (which means you owe more than the car is worth).

Take someone with you who has bought cars before - your parents, an uncle, and older friend. Use them for advice. They'll see things that you won't. If you have to talk to them, do it away from the salesman or his desk.

And if you really don't want to get screwed, don't buy a new car. Let someone else take the hit on depreciation.
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Old 04-18-2008, 09:27 AM
 
992 posts, read 3,422,172 times
Reputation: 258
Edmunds gives you an idea of what people are paying.
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Old 04-19-2008, 10:44 PM
miu
 
Location: MA/NH
17,639 posts, read 37,725,300 times
Reputation: 17526
Don't buy a brand new car. And don't max out your budget.
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