Hey fellas, I am thinking about purchasing a car. What is the general rule to knock off MSRP while starting neogiation? Any good sites that teach u how to neogiate and what to watch out for. Seem like once you are done with sales, you will have to neogiate again with the finance dept on your rate. What is the best way to handle the finance dept? Thanks.
Figure out exactly what you want first. Buy that car low mileage, less than a year old used from an individual. Get your own financing from your bank.
carbuyingtips.com find out what the dealer pays for the car, find out which charges are unwaivable then make an offer based on those costs plus 2-5% profit margin for the dealer MSRP is a worthless measuring point
I always start by offering 20% off the MSRP. If the salesperson balks, laughs or shakes their head, I walk away.
thanks for the info I got into an accident over the weekend and my car was deemed a total loss so i am going to be looking for a new car myself in the next 1-3 depending on how long it takes for the settlement and all. I think I know what price range I have in mind but I never bought a car before...the car I lost was a car that I made some payments on in college and in high school but my dad bought it for my mom and since I help make some payments on it my parents gave it to me after I graduated college. I didnt pay too much attention back then when my parents were buying/negotiating for that car.
check out the advise from this thread, it helped me tremendously: http://bbs.clutchfans.net/showthread.php?t=190990 a few things you'll want to do... -find out exactly which car you want to buy -find out if there is a vehicle on a lot that you want at the price you want -you can also order a current model car from the dealership, leadtime 8-12 weeks -if you have a trade-in, get it appraised at car-max... then head to the dealer to see what they offer, at the very least, they need to match the car-max offer -negotiate their price, even if they have the best price around, still negotiate -speak with the internet sales staff or walk in and get some hard numbers, walk out numbers -get your financing done elsewhere, usually your bank will help you, no more than 2% if you can help it -ask for extras when closing, key chains, dealer installed options, free mats, maybe even a spare (these days... most cars don't have spares, not even the small donut) good luck, happy hunting
it seems like everyone suggests getting financing through my bank right now looking at their loan website it seems like the auto loans range from 4-5% on excellent credit -- how is that better than the 1.9 - 2.9% offers some of the dealerships offer? Am I looking at something wrong? I currently bank with wells fargo
anyone ever finance through a bank, negotiate the price, let the dealer think you are financing through them, and at the end of the paperwork hand the dealer a check for the full amount of the their loan? that would be epic.
the percentage depends on the model, it isn't unusual for certain models to sell above MSRP edmunds will give you the average selling price for the specific vehicle you're interested in
I think a good practice is to get a quote from the bank and if the dealer doesn't top that, show them the quote. I had a quote from a bank when I bought my car but didn't end up using it. My philosophy now is that I will never buy a new car again unless I can pay cash. It's been beaten to death around here but you're much better off buying a 2-3 year old used car ... it's stupid to invest that much money in something that's going to depreciate 20 percent in the first year and 10 percent per year after that. Cars are already expensive enough, between gas, insurance, maintenance, etc. You're better off buying an old, reliable model in cash for as much as you can afford. But if you must finance and can't live without something fancier, get something a couple of years old.
Negotiate up from invoice, not down from sticker price. Try to do financing separately, same with trade in, read one of the many popular books on the subject.
Go to a car forum that is for that model/make. Find out what people are paying for the car. That's your best shot. www.truecar.com is a great tool, but don't think that's the best deal you can get. I helped my parents get a new Honda Accord a few months ago for about $1000 less than what Truecar said was a great price. There is no simple answer to "how much below MSRP can I get a car" simply because the answer is different for every car and different throughout the year.
