We currently have two automobiles that we are paying on and we are looking to buy another at the end of the year. I have some questions about both of these that I am hoping the members of ClutchFans will help me with. 1. We are looking at paying off the cars we currently have in full. Let's say on one, which the payoff is $2300, I submit a payment to them tomorrow. What would be the next step? Would or should I get paperwork from the bank that holds my auto loan? Is there anything I need to do on my end after payment is submitted? 2. We are currently looking for another automobile. I've always heard it is better to look toward the end of the year, that's when the better deals are for the holidays, clearing out older models, etc. Is this true? 3. When financing, is it better to go through the dealership, bank, credit union, or another place? Does it just depend? Should you check all avenues of financing? How does that affect your credit? 4. How much wheeling and dealing can you actually do when you are looking to purchase? What difference does it make when the auto is new or used, if any? 5. When at the dealership, what are some dos and don'ts? 6. Any other advice you guys like to throw in is welcome.
1. Get a disposable email account. 2. Email local dealerships for a price quote on said car. 3. They will make offers. Write them back and ask for the drive out price. 4. Buy the car. 5. Dispose of the email account. This cuts through most if not all of the BS.
Labor day weekend you can get great deals. depending on the type of car and the price point there is always room to haggle and ask about special promotions you can qualify for. Like when my dad was buying his benz they said if you show us the paperwork for a BMW that you own we will give you 500-1000 (dont remember exact amount) off. Be patient and shop around other dealerships, find the best deal you can get and make sure to get it in writing from them and then take it to the closest dealership to your house so they can match or beat that offer. Try not to finance if you can, that is just a waste of money going down the rain. Especially on a car, it is one thing to get a mortgage, but other than a home purchase, financing is a huge waste of money.
#3 After you get the price from the dealer on the desired vehicle, figure out how much you'll finance, get a rate from your bank, this is your leverage, because the dealer will do what they can to rip you off. You use your bank's rate to get an even better rate from the dealer.
end of the month is always a good time to buy guys are trying to make their numbers so favorable deals are more likely to be made then. Call before you go to the lot. The most desperate sales guys are the ones who are working the phones hard. Who to finance with all depends on what your credit looks like. 0% is best if you know you won't have a problem making the payments on time. If you can get pre-approved for a certain amount from a credit union and you have the paperwork you can waive that in front of sales guy and you can basically bend him over on the price. When it come to cars you have to remember there are more sellers then buyers. The buyer has the leverage don't forget that.
After you submit your payoff and the bank receives it then you should receive (a) the title (b) payoff receipt / letter There is nothing else that you need to do
That what Lysol is for. PS - Three cars? This obviously could have been posted in the middle class thread.
In general it's better to have your financing lined up beforehand because dealer financing is often a screw job. But sometimes dealers run 0% or <2.0% financing specials that obliterate even credit union offers. I second No Worries' post. I didn't do it myself, but I can see the merits of that idea. I had everything sent to my primary gmail account so I wouldn't miss them and then created filters to auto delete spam afterwards. Basically I only went to one dealership, the one I bought my car from.
Not to hijack the thread...but has anyone bought a new truck recently? I am in the market, leaning toward F150
I see dealership websites with live chat, email, online specials, etc. but I thought it was all a sham. So you're saying that they will indeed make deals this way?
Definitely get price quotes and go through internet sales. Did it that way for both our cars and got good deals on both. When signing make sure you understand everything....don't let them rush you. Ask questions. Be prepared to leave.
Yep, there's an entire section devoted to internet sales at most dealerships. They have their own commissions and can make deals independent of the floor guys. I found they typically have lower starting negotiation prices but you may have better end results if you're good at haggling with a salesman in person. The internet sales guys deal in volume. They can do substantially higher volume (and take a lower commission) because they have way more leads going at a time.
I'm getting quotes via Internet (email) right now. Is it OK to say something like Is this the lowest price being offered for this particular model or can you go lower? Not sure how I should word this when responding back to a dealer. When buying new, should I ask about dealer and manufacturer incentives? Also, should I share with the dealership how much I plan on putting down on the vehicle?
I agree with the previous posts, take your time and read all the paperwork carefully. One of those finance guys pulled a fast one on my sister. Granted she should've been more careful, but taking advantage of a first time buyer is never nice.
Find the best deal you can online. We went from Austin to San Antonio to get the best deal for our last car, but you might not have to bother. Print out your best internet quote and walk into a dealership with a good reputation. Tell them you'll buy it there if they'll match it. If there is any BS, any "oh, the manager won't accept the deal. Let me talk to him and see what I can do for you!" then you have to be prepared to walk away. One time I walked out 3 times at the same dealership until I got the deal I wanted. Don't fall in love with the car until you have it in your driveway. Oh, and line up your financing ahead of time. Tell them you have no interest in financing through them. Makes things a lot easier.
Thanks for the additional info guys. My situation has changed a bit now since one of my vehicles above was totaled. I'm getting quotes via Internet (email) right now. Is it OK to say something like Is this the lowest price being offered for this particular model or can you go lower? Not sure how I should word this when responding back to a dealer. When buying new, should I ask about dealer and manufacturer incentives? Also, should I share with the dealership how much I plan on putting down on the vehicle?
Work the dealers against each other. If you get a lower price from one dealer on the internet, show another dealer the quote and ask them if they can beat it. Sorry about your car!
