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If you hate car buying remember these tips.

panther4life

By panther4life,
in Huddle Lounge

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panther4life Community Regular

panther4life

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If you want to make sure you get a good deal. Theres a couple things you can do. Go online and research the vehicles you have interest in. There is plenty of sites that do not ask for your information that will tell you what a very good price is(typically close to cost) and dealer's only profit is off of their doc fee, any kickback the lending instituiton gives them for giving it them over another bank.

The 2nd thing is if you go out unprepared but fall in love with a car and they say hey what if we did this and entice you into negotating (not a bad thing) you can offer them a stupid low number(this how the older folks-pre-internet folks do it). For instance the same question will arise "If the price and terms are agreeable will you buy now". You would normally initial yes this is the case. They will come out with an offer. Then you offer something stupid,(the salesman can't let you leave without getting in trouble)so after some resistance he will say okay, i'll run it by my boss.

Fast foward through that scenario a couple times and then you say okay I'm leaving and they will either A.drop the price again to their real lowest offer, or B. say goodbye (if this happens you already did a great job and got the best price). so feel free to turn around and say ok you know what i'll do it.

This works because they are afraid you'll never come back again anyway, so why not give them your best price before they leave.

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88 Bronco Newbie

88 Bronco

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Last time I bought a used vehicle, I pointed out everything I hated about it, even though I thought it was a nice truck. They came off the price about $3,000, some of it was because the truck had been on the lot for 2 months.

Even if you love the car, act apathetic. If you have a horrible poker face, sit this one out. Have someone with you that can act like they dislike the vehicle. Most of all get every offering in writing, and be willing to walk out the door.

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Hawk Newbie

Hawk

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100% agree with the shop online and do your homework part first piece of information...the better prepared you are, the less likely you are going to get screwed over.

If possible, I think it's much more value added to have all your financing completed up front as well. I know many dealers will offer great financing rates etc, and yes, there are lots of people out there who don't have the means or credit to get great financing from their bank. That said, if you can, get that financing from your bank completed first. Going into the dealership with a cash offer is typically going to save you more money than their cheap finance rates...in my opinion anyway.

Last two vehicles I bought new, I never spoke to a salesman, I went straight to the sales manager with 'cash', told them what I wanted, told them how much I was willing to pay and basically just said...if you have the vehicle and want the sale, say yes, any other words coming out of your mouth, I'm going down the street.

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88 Bronco Newbie

88 Bronco

Posted
Posted

100% agree with the shop online and do your homework part first piece of information...the better prepared you are, the less likely you are going to get screwed over.

If possible, I think it's much more value added to have all your financing completed up front as well. I know many dealers will offer great financing rates etc, and yes, there are lots of people out there who don't have the means or credit to get great financing from their bank. That said, if you can, get that financing from your bank completed first. Going into the dealership with a cash offer is typically going to save you more money than their cheap finance rates...in my opinion anyway.

Last two vehicles I bought new, I never spoke to a salesman, I went straight to the sales manager with 'cash', told them what I wanted, told them how much I was willing to pay and basically just said...if you have the vehicle and want the sale, say yes, any other words coming out of your mouth, I'm going down the street.

So how much did you pay for the moose?

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Niner National Newbie

Niner National

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Posted

As an fyi, the money in automobiles is used cars, not new cars. New cars are very competitive and the customers are able to know basically the dealer cost on a car. Used cars is a completely different animal, there is usually a considerable margin to be made on the car.

Guess it depends on the kind of cars you are selling.

My girlfriend used to be an accountant at a BMW dealership in the DC area, so she saw what all the sales guys were making.

Several guys there were making $10-20,000 (gross pay) per month.

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