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Buying a new car
Posted on 6/20/12 at 9:32 am
Posted on 6/20/12 at 9:32 am
In the market for a new car, and after looking around and doing some research, I put an online inquiry on a dealerships website. I had gone to Edmunds.com and several other sites to gauge a "true market value" of what to expect to pay, so I had a number in mind. When the dealer responded to my inquiry, they first offer they gave me was already less than the reported "true market value" listed on the other sites by about $300.
So, a couple of questions for the experts here:
1. How accurate/reliable are those websites (edmunds, kelley blue book, true car, etc)?
2. Where would you go from here once negotiations actually begin? Obviously the dealer is still making some good money at the price he quoted me, which I would have taken based on the true market values I found online. Now, I don't really have a reference point.
So, a couple of questions for the experts here:
1. How accurate/reliable are those websites (edmunds, kelley blue book, true car, etc)?
2. Where would you go from here once negotiations actually begin? Obviously the dealer is still making some good money at the price he quoted me, which I would have taken based on the true market values I found online. Now, I don't really have a reference point.
2
Posted on 6/20/12 at 9:48 am to medtiger
I think the next step is what is the price YOU are willing to pay. Those sites are great at baselining a general value, but you are the individual at the end of the day that has to part with his money.
If I were you, I would determine the number I want the car for (don't forget tax title and license)and provide one counter offer to the dealer. I need it for $XX,XXX -- if you can't do that then I will keep searching. If you can, then we have a deal.
Screw all of the haggling -- you are in the power position, so use it.
If I were you, I would determine the number I want the car for (don't forget tax title and license)and provide one counter offer to the dealer. I need it for $XX,XXX -- if you can't do that then I will keep searching. If you can, then we have a deal.
Screw all of the haggling -- you are in the power position, so use it.
This post was edited on 6/20/12 at 9:49 am
Posted on 6/20/12 at 2:28 pm to medtiger
FWIW, I went through a service called carbargains.org. For $200 they contact dealerships in your area (in my case about 10)and ask them to participate in the bidding on a (whatever car, I said a 4-Runner 4WD). Some responded with results like "Invoice + 500" or "MSRP - 1000) or, what I went with was "Invoice - 1000". Some did not respond at all. In the meantime, I was looking at Honda Pilots on Sundays, without salesmen. The wife and I started to prefer the Pilot, so I contacted Honda via email and asked them what they could do for me on a Pilot, and that Toyota said I could get the 4-runner for Invoice - 1000. He later responed and said he'd match that. So, I called him, said I'd be there in 20 minutes. He had the Pilot ready and the MSRP was 37500. I told him I'd take it if he'd threw in a luggage rack (about 500 more on to MSRP) and I'd give him 33000...about 5000 under MSRP. He got it approved. I was there about 30-40 minutes. Smoothest vehicle purchase I ever had.
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