be informed before buying a new car

[hagarz71]

Most on this site may already know about this. But if buying a new car, be informed before approaching a dealership with the "true market value" that can tell you what the dealers pay for the car vs. negotiating from msrp.

TMV can be found at www.edmunds.com (http://www.edmunds.com)

[aardvark]

Most on this site may already know about this. But if buying a new car, be informed before approaching a dealership with the "true market value" that can tell you what the dealers pay for the car vs. negotiating from msrp.

TMV can be found at www.edmunds.com (http://www.edmunds.com)

If you have a trade in,DO NOT TELL THEM ABOUT IT ,untill after you make the deal on the new car..Otherwise,they will "roll the trade",which means they combine the discount on the new car,with whatever they give you for yours,and call it "trade allowance"
They will make more money off you this way....trust me,I know....

After you make the deal on the new car,then ask them what they will give you for yours..."ACV"...actual cash value...
They will be pissed,but you keep them from screwing you over....

[KD3NE]

Dealerships around here have a solution for people who hide the trade until the last minute.

They refuse to take the trade, they refer you to CARMAX who will pay you cash for your car.

I know one dealership that flat out says ... NO TRADES.

They give you two options ....

1) CARMAX
2) Send your car to auction and you get ACV for it. ACV = Actual Cash Value

I recall a salesman who had a unique approach. He would ask the customer ....

" Sir/Madam, how much do you think I the salesperson should be paid in commission for selling you this car? "

When the gave him a figured he worked the numbers to come up with a price that would pay him the commission the customer agreed to. More often then not the customers would balk at the price.

It seems the customers misunderstood .... you see they wanted the DEALER to make $100 on a $30,000.00 car, not the Salesman.

It's not the 1960's anymore, today the only person who could walk into a dealership not know what was going on would be an ex-con just released from a 50 year jail term. ;)

What is a TRADE IN worth? Where would you find out?

Kelly Blue Book?
NADA?
Edmunds?

No, they are terrible sources .... find a wholesaler and ask what he would pay for the car, most dealers will sell off the car to a wholesaler anyway.

A car, any car is only worth what someone is willing to pay for it.

I can tell you how to save $1,000's off on your next car, but if you are one of those people who just " have to have a new car " there may be no help.

I have some experience in the car business, and one thing I learned is ...
NEVER buy a BRAND NEW CAR !!!!!!



.

[Terminals]

NEVER buy a BRAND NEW CAR !!!!!!

.

That kind of talk will get you on Obama's list. :yikes::yikes::yikes:



He is bound and determined to keep bailing out the auto unions
and their employers, no matter how much it costs US (you n me).

:mrgreen:

[race66]

Dealerships around here have a solution for people who hide the trade until the last minute.

They refuse to take the trade, they refer you to CARMAX who will pay you cash for your car.

I know one dealership that flat out says ... NO TRADES.

They give you two options ....

1) CARMAX
2) Send your car to auction and you get ACV for it. ACV = Actual Cash Value



or

3) walk away.

Maybe you'll find a dealer who needs your business.

[aardvark]

Dealerships around here have a solution for people who hide the trade until the last minute.

They refuse to take the trade, they refer you to CARMAX who will pay you cash for your car.

I know one dealership that flat out says ... NO TRADES.

They give you two options ....

1) CARMAX
2) Send your car to auction and you get ACV for it. ACV = Actual Cash Value

I recall a salesman who had a unique approach. He would ask the customer ....

" Sir/Madam, how much do you think I the salesperson should be paid in commission for selling you this car? "

When the gave him a figured he worked the numbers to come up with a price that would pay him the commission the customer agreed to. More often then not the customers would balk at the price.

It seems the customers misunderstood .... you see they wanted the DEALER to make $100 on a $30,000.00 car, not the Salesman.

It's not the 1960's anymore, today the only person who could walk into a dealership not know what was going on would be an ex-con just released from a 50 year jail term. ;)

What is a TRADE IN worth? Where would you find out?

Kelly Blue Book?
NADA?
Edmunds?

No, they are terrible sources .... find a wholesaler and ask what he would pay for the car, most dealers will sell off the car to a wholesaler anyway.

A car, any car is only worth what someone is willing to pay for it.

I can tell you how to save $1,000's off on your next car, but if you are one of those people who just " have to have a new car " there may be no help.

I have some experience in the car business, and one thing I learned is ...
NEVER buy a BRAND NEW CAR !!!!!!



.

I sold new Oldsmobiles for three years,along with access to selling on the Used lot..Nothing wrong with buying a new car...

IF a dealer refused to look at my trade after I haggled for the new one,he would lose me as a customer...for good....
Plenty of dealerships will accept the deal that way,if they want to sell a car...

The salesman is entitled to make a living,but there are plenty of "Laydowns",or "monster-pops",where they absolutely rape the customer.
They also have to live with "Mini-deals",where they make minimum commision...Thats the nature of the business...

My method when I bought my New Nissan Frontier...
I sat down,said,"I dont want to play the back and forth,I'll take your offer to the Manager, runaround"...
I offered $400.00 over dealer Invoice,less any incentives already in place...
That was my one and only offer,they showed me the invoice,wrote up my deal,I signed it..
Then I asked them what they would give me for my Mazda MX6 in trade..
The General Manager got pissed,but too bad...
I knew exactly what they would pay me for my trade,and although somewhat less than I wanted,I took it,since it wasnt too unfair..

Also....Dont fall for the "Earnest Money" request...
You make an offer,usually way too low,and they say,"I will take it to my Manager,but give me a $100.00 deposit to show him your serious,and would buy right now at that price"....

Then they have tied you to the chair,and spend hours getting you to climb the ladder to buy at a higher price..

Dont give them a dime...

Dont ever fall for the "I gotta make a living" guilt trip from a car salesman.
They will lie right to your face to make an extra buck...sell you something you dont need or want,or even cars with mechanical problems they
already know about,and hide from you...

Not all salesman,and dealerships are crooks,but the majority will take advantage of you if your not educated..

[Glennok]

Here's another tip. When I make an offer, it's always for the out-the-door price. Many times, after you negotiate a price, they will try to throw in charges for advertising and this and that. I tell them that I don't care where they show the money going, but our negotiated price is OTD.

Another tip is to NEVER trade in a vehicle. They will never give you what it's worth on the street.

[aardvark]

Here's another tip. When I make an offer, it's always for the out-the-door price. Many times, after you negotiate a price, they will try to throw in charges for advertising and this and that. I tell them that I don't care where they show the money going, but our negotiated price is OTD.

Another tip is to NEVER trade in a vehicle. They will never give you what it's worth on the street.


Yep....Doc Fees
Prep Fees
Delivery/destination fees

As far as the trade,yes ,you sell it yourself,you get closer to market value..
Trade it in for wholesale value ..
A lot of people dont want to hassle with selling it themselves....


Believe it or not,when I sold cars,more than one person walked in,said "I want this car",and paid sticker price without even blinking...
one had a pillow case with $8,000.00 in cash....and the money stunk from being socked away somewhere...

They did call crying weeks later though,once thier friends and neighbors let em know they paid way too much....live and learn..

[KD3NE]

That kind of talk will get you on Obama's list. :yikes::yikes::yikes:



He is bound and determined to keep bailing out the auto unions
and their employers, no matter how much it costs US (you n me).

:mrgreen:

Hey I do buy the MANUFACTURERS Extended Warrantues .... don't that count!!!!

:lol:

Best deal out there .... 1 -2 year lease turn-ins sold at auction by manufacturers.

Still have factory warranty left and eligible for extended coverage.

Last time I bought a car was in 2002, a 2001 Ford Crown Vic with 9,000 miles. Was a one year lease turn in.

Best part of the deal .... Car & 6 Yr 100,000 Mile Warranty cost me over $10,000 less than a new car. If I recall actual savings was close to $12K. ( helps that I had a friend who owned the Ford dealership )

And the Ford Warranty??? Well it was a waste of money as the car had NO PROBLEMS.

Actually those deals, while hard to find are out there ..... and if you have a good relationship with a dealer, you could even 'order' one of these if you are not in a hurry.

Let the suckers take the initial depreciation loss suffered in EVERY NEW CAR PURCHASE !!! .... you swoop and make a good deal !!!!!!!

.

[KD3NE]

INothing wrong with buying a new car...




If you like throwing money away, nope nothing wrong at all ! ;) :lol:



Maybe you'll find a dealer who needs your business.

I find dealers that WANT your business and do NOT NEED you business to be better dealers to work with.

What got me when I worked in that business was the jackass customers who DEMANDED that they be sold the New Car at WHOLESALE .... yet DEMANDED RETAIL ( Street Value ) for their POS Trade-In.

We used to call in the Wholesaler and tell the customer to sell their trade to him, after all he was the guy waiting to buy it from us! ;)

One thing I learned in that business is " All Buyers Are Liars ! " :lol:

If you really worked in that business you would know the truth in that.

Most common lie told ..... " I refuse to pay more than $$$ per month !!!"

They'd come out of the box with a payment higher and saying " well it's not THAT much higher! "

:lol: F&I Managers have ways to extract that extra nickle !!!




.

[slacks]

Dealerships around here have a solution for people who hide the trade until the last minute.

They refuse to take the trade, they refer you to CARMAX who will pay you cash for your car.

I know one dealership that flat out says ... NO TRADES.

They give you two options ....

1) CARMAX
2) Send your car to auction and you get ACV for it. ACV = Actual Cash Value

I recall a salesman who had a unique approach. He would ask the customer ....

" Sir/Madam, how much do you think I the salesperson should be paid in commission for selling you this car? "

When the gave him a figured he worked the numbers to come up with a price that would pay him the commission the customer agreed to. More often then not the customers would balk at the price.

It seems the customers misunderstood .... you see they wanted the DEALER to make $100 on a $30,000.00 car, not the Salesman.

It's not the 1960's anymore, today the only person who could walk into a dealership not know what was going on would be an ex-con just released from a 50 year jail term. ;)

What is a TRADE IN worth? Where would you find out?

Kelly Blue Book?
NADA?
Edmunds?

No, they are terrible sources .... find a wholesaler and ask what he would pay for the car, most dealers will sell off the car to a wholesaler anyway.

A car, any car is only worth what someone is willing to pay for it.

I can tell you how to save $1,000's off on your next car, but if you are one of those people who just " have to have a new car " there may be no help.

I have some experience in the car business, and one thing I learned is ...
NEVER buy a BRAND NEW CAR !!!!!!
.
Great points! Espicially with KBB, Edmunds and NADA. They'll get you into a ROUGH ballpark but they aren't usually actual wholesale values. One thing not factored into auction selling ("actual cash value") is the extra costs; the sell fee for the auction and likely a fee to the wholesaler selling it for you.