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I'm looking to purchase a 2008 Mitsubishi Lancer Evolution GSR because all of the dealer are doing $10,000 off on that particular model. I plan to drop the dealer selling price as low as possible, take the $10,000 off and then trade in our 2006 Nissan Maxima (trade in is $14k-$16k but we still owe $4k) to get the final selling price. I stopped by a dealer yesterday and the guy who helped me was a complete douche and completely unwilling to budge on price (not to mention he told me they are the only dealer doing the $10,000 off). So I'm stopping by another local Mitsubishi dealer today and I want to do this right. Yesterdays dealer was selling the car at $37,000 with all the options and destination charges included. I believe the vehicles invoice is around $32,000. Is it realistic for me to get the vehicle at or around invoice, then take off the ten thousand, then set our Maxima as the trade in and walk off with an amazing deal?
$32,500 ($500 above invoice) - $10,000 (rebate) - $10,000 (Maxima, minus $4k still owed) = $12,500.
First of all, your Maxima isn't worth that much. A quick look at KBB says that an 06 SL with 50K miles has a value between $11-$14K, before reconditioning costs.
You aren't going to get top dollar on a trade, plus all the rebates/incentives, plus invoice pricing. Something is going to give, and the easiest place is your trade. I would expect them to offer you something along the lines of $9-$10K for the Maxima, and go full list with the $10K discount.
First of all, your Maxima isn't worth that much. A quick look at KBB says that an 06 SL with 50K miles has a value between $11-$14K, before reconditioning costs.
You aren't going to get top dollar on a trade, plus all the rebates/incentives, plus invoice pricing. Something is going to give, and the easiest place is your trade. I would expect them to offer you something along the lines of $9-$10K for the Maxima, and go full list with the $10K discount.
The KBB trade is 14k-16k (22k miles, prestine car) and yesterdays dealer gave $14k for it. Its suggested retail value is at $19k so I think 14k is very do able.
The KBB trade is 14k-16k (22k miles, prestine car) and yesterdays dealer gave $14k for it. Its suggested retail value is at $19k so I think 14k is very do able.
$14K at full pop list, with the $10K off. I'd go for it.
$14K at full pop list, with the $10K off. I'd go for it.
Well this would be ideal:
$32,500 ($500 above invoice) - $10,000 (rebate) - $10,000 (Maxima, minus $4k still owed) = $12,500.
Knowing that they will squeeze more out of me I'll be happy to walk out with $14,000 but no more. I'm not desperate for a vehicle but I'm more than willing to pull for $14k and walk out with an amazing deal. I'll give my mother my Infiniti G35 and drive the Evolution myself (the Maxima is currently hers). I'll be giving up a lot in interior quality but the Evo is a phenomenal drivers car.
Last edited by iTsLiKeAnEgG; 06-09-2009 at 12:10 PM..
Alot of dealers get greedy when the manufacturer throws out big incentives like that. They figure they won't need to come off the MSRP any if at all since you are getting 10k off so they can pocket the big pay day for themselves.
Seeing that you are willing to pay 500 over invoice, for a vehicle in this economy, I think is beyond fair in my opinion.
You might be better off just talking about the difference you will pay the dealer - OK here is my trade, there is the EVO, you guys are talking 10K rebate, right? OK, I'll offer you my trade and 12,500.
Something like that.
I think the main advantage you have is that you are willing to walk. Let them know that, keep that in mind.
You may possibly do better towards the end of the month.
The EVO is a great car, personally I like the ones from around 2006 better, there in CA I bet you can find a good one of those as well. Keep this in mind as well.
In CA, do you only pay sales tax on the difference between your trade and the car you are buying? That's how it works in WA, which makes trading more attractive.
Finally, get your hands on the recent issue of Sports Car Market where Legal Files discusses how you can avoid CA sales tax entirely by initially tagging, registering, *and using* your car for a period of time in Oregon. Depending on where you are in CA, this may or may not be worth the bother.
I've never had to buy from a dealer before (always private party) but I believe I'll only be paying the sales tax on the final sale amount. I'll check out the SCM article on avoiding CA sales tax. I know it will depend greatly on dealer flexibility (and I've got many dealers in my area) but am I out of line to ask $12,500k-$14,000k when all is said and done? I'll go to as many dealers as I have to in order to get $14,000 and I'll stop by again at the end of the month if I need to. I'm not in dire in need of a car, this is definitely more of a "I want it" thing.
The KBB trade is 14k-16k (22k miles, prestine car) and yesterdays dealer gave $14k for it. Its suggested retail value is at $19k so I think 14k is very do able.
Yesterdays dealer offered you 14k. However, there is a good chance it was based on getting 37k for the new car. Chances are good anyone willing to sell the car for 500 over invoice will not be willing to give you 14k on the trade in.
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