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Started By
Message
I hate the car buying process.
Posted on 9/26/11 at 1:35 pm
Posted on 9/26/11 at 1:35 pm
I went to Lafayette this weekend and saw a used Ford F150 on a lot that matches what I am looking for. Quick backstory. I have a paid off 2006 Expedition that my wife drives. I drive a paid off 2000 Chevy Silverado. We just bought her a used 2003 Jag that is paid off. So we own all 3. I want a truck to replace mine so we are selling my truck and the expedition.
Back to my story. I decided hey lets see what they would offer on trade in. I researched and KBB shows my Expedition is worth 15,700 trade in and 18,880 private party.
I talk to the salesman and he comes back that they will give me 9000 for the expedition and I said no freaking way. He looked at me like I was crazy. I said not even close, I want 15000 for mine. I told him I looked and it should be worth at least that.
I said ok I'm not sitting here doing the back and forth. I told him I want 15k for mine, I willing to pay 25k for the F150. (Listed at 26,800)He comes back full price for F150 12800 for mine. I said no thanks and got up and walked out.
I know they try to screw you on the trade in's but damn he didn't even try to use KY.
So any advice on this whole process? I don't have to do anything until I find the exact truck I want. I am going to try and sell my Expedition for 16,900 which is 2000 under the KBB price.
Back to my story. I decided hey lets see what they would offer on trade in. I researched and KBB shows my Expedition is worth 15,700 trade in and 18,880 private party.
I talk to the salesman and he comes back that they will give me 9000 for the expedition and I said no freaking way. He looked at me like I was crazy. I said not even close, I want 15000 for mine. I told him I looked and it should be worth at least that.
I said ok I'm not sitting here doing the back and forth. I told him I want 15k for mine, I willing to pay 25k for the F150. (Listed at 26,800)He comes back full price for F150 12800 for mine. I said no thanks and got up and walked out.
I know they try to screw you on the trade in's but damn he didn't even try to use KY.
So any advice on this whole process? I don't have to do anything until I find the exact truck I want. I am going to try and sell my Expedition for 16,900 which is 2000 under the KBB price.
10
Posted on 9/26/11 at 1:48 pm to nino2469
quote:
I am going to try and sell my Expedition for 16,900
Posted on 9/26/11 at 1:49 pm to nino2469
I hate it too. I bought a new Toyota a few months ago. It was painful.
We went to the dealership knowing what we wanted. We applied for financing and were quoted 0.9%. We agreed on a price for the vehicle which had to be ordered from another dealership. This would take a few days they said. They asked if I had a trade in and I said yes, I have a truck that I may trade in. They said they wouldnt give me much ($2,500) for it but that they would take it if I wanted to trade it in. With that I put a thousand dollars down and went home.
I posted pics of the truck on craigslist and sold it for $5,500 in less than 12 hours. I showed up to the dealer two days later without the truck for trade-in and with cash in hand instead. They made me wait three hours and then wanted to renegotiate price and financing terms.
I'm convinced that they thought they would take my truck for nothing which is why they lowballed on the price of the new truck. When I showed up with cash their plan was blown. 6 hours later I got my new truck at the original quoted price and terms, but to be sure I'll never do business with that dealership again.
We went to the dealership knowing what we wanted. We applied for financing and were quoted 0.9%. We agreed on a price for the vehicle which had to be ordered from another dealership. This would take a few days they said. They asked if I had a trade in and I said yes, I have a truck that I may trade in. They said they wouldnt give me much ($2,500) for it but that they would take it if I wanted to trade it in. With that I put a thousand dollars down and went home.
I posted pics of the truck on craigslist and sold it for $5,500 in less than 12 hours. I showed up to the dealer two days later without the truck for trade-in and with cash in hand instead. They made me wait three hours and then wanted to renegotiate price and financing terms.
I'm convinced that they thought they would take my truck for nothing which is why they lowballed on the price of the new truck. When I showed up with cash their plan was blown. 6 hours later I got my new truck at the original quoted price and terms, but to be sure I'll never do business with that dealership again.
This post was edited on 9/26/11 at 1:53 pm
Posted on 9/26/11 at 2:13 pm to wiltznucs
Usually the dealerships go wholesale for wholesale and full price for full price. I havent had to worry about negotiating because we have the x plan so the price they give you is the best price you're gonna get.
Posted on 9/26/11 at 2:17 pm to reb13
two things pissed me off while I was there. First the low ball offer on my vehicle and then he didn't take a penny off the F150.
I'm in a good position that I can wait as long as I need to buy. My biggest concern is getting my Expedition sold and getting the max value out of it.
I'm in a good position that I can wait as long as I need to buy. My biggest concern is getting my Expedition sold and getting the max value out of it.
Posted on 9/26/11 at 2:20 pm to nino2469
quote:
Back to my story. I decided hey lets see what they would offer on trade in. I researched and KBB shows my Expedition is worth 15,700 trade in and 18,880 private party.
I talk to the salesman and he comes back that they will give me 9000 for the expedition and I said no freaking way. He looked at me like I was crazy. I said not even close, I want 15000 for mine. I told him I looked and it should be worth at least that.
You revealed your hand too early. You lost any type of leverage that you had. NEVER tell them you have a vehicle that you are looking to trade in, until you have settled on price for the new vehicle.
Also, once you think you've reached a deal, get up and walk out. If they come after you, then there is more work to be done. If they let you leave, still walk out and grab a drink, come back and sign the deal.
Posted on 9/26/11 at 2:22 pm to wiltznucs
quote:
I posted pics of the truck on craigslist and sold it for $5,500 in less than 12 hours. I showed up to the dealer two days later without the truck for trade-in and with cash in hand instead. They made me wait three hours and then wanted to renegotiate price and financing terms.
I would have flipped on them. Simply put, the trade in price should have nothing to do with the sales price of the new vehicle.
You have to treat each transaction as a separate transactions. Nice job of standing your ground.
Posted on 9/26/11 at 2:24 pm to Will Cover
quote:
You revealed your hand too early. You lost any type of leverage that you had. NEVER tell them you have a vehicle that you are looking to trade in, until you have settled on price for the new vehicle.
I'm a novice at this and I prefer not to have a trade in because of the fact of trying to negotiate two things. I'd rather have the cash in hand and then just negotiate the truck I'm going to buy.
quote:
Also, once you think you've reached a deal, get up and walk out. If they come after you, then there is more work to be done. If they let you leave, still walk out and grab a drink, come back and sign the deal.
what do you mean? If they come back with an offer that I am happy with still leave and see what they do?
Posted on 9/26/11 at 3:00 pm to wiltznucs
Watch the 0.9% interest. When my wife was shopping around, the dealership’s principal and interest payment they quoted us was about $11 or $12 per month more than the payment calculator I used. When I questioned them about it they said they made a mistake. I believe they were really using 0.94% but they wouldn’t admit it. They had also told us we could put it on a credit card. We had a high enough limit to cover it and wanted the points. They later told us we could only put the down payment on the credit card and there must have been a misunderstanding. There was no misunderstanding. We made it clear more than once what we wanted to do and they agreed.
Posted on 9/26/11 at 3:10 pm to Will Cover
quote:
You have to treat each transaction as a separate transactions. Nice job of standing your ground.
Unfortunately it doesn't work like that most of the time. as a buyer yes that is ideal though.
Posted on 9/26/11 at 3:20 pm to PlanoPrivateer
I'm not saying he wasn't lowballing you, but you have to factor in the tax shield you receive on the trade in as well as the convenience of "selling" your expedition immediately.
With a 9% sales tax the value of your 12,800 trade is actually 13952. So if taking a 1000 dollar hit is worth getting rid of the expedition immediately, then that is a fair deal.
You're after tax revenue from selling your expedition at 16900 is only 15379. So effectively you would be leaving $1800 on the table by taking that trade-in offer, but that's assuming you will get your asking price (not likely) while also discounting the inconvenience of having to sit around waiting for someone to come to you to buy your car.
It's up to you to decide if 1800 is too much for convenience.
ETA - Looking at it again, Paying list price with the trade-in offer is only $1427.00 more than selling the expedition at 16900 and then buying the F150 at list.
With a 9% sales tax the value of your 12,800 trade is actually 13952. So if taking a 1000 dollar hit is worth getting rid of the expedition immediately, then that is a fair deal.
You're after tax revenue from selling your expedition at 16900 is only 15379. So effectively you would be leaving $1800 on the table by taking that trade-in offer, but that's assuming you will get your asking price (not likely) while also discounting the inconvenience of having to sit around waiting for someone to come to you to buy your car.
It's up to you to decide if 1800 is too much for convenience.
ETA - Looking at it again, Paying list price with the trade-in offer is only $1427.00 more than selling the expedition at 16900 and then buying the F150 at list.
This post was edited on 9/26/11 at 3:40 pm
Posted on 9/26/11 at 3:45 pm to lsu6294
quote:
I'm not saying he wasn't lowballing you, but you have to factor in the tax shield you receive on the trade in as well as the convenience of "selling" your expedition immediately.
With a 9% sales tax the value of your 12,800 trade is actually 13952. So if taking a 1000 dollar hit is worth getting rid of the expedition immediately, then that is a fair deal.
You're after tax revenue from selling your expedition at 16900 is only 15379. So effectively you would be leaving $1800 on the table by taking that trade-in offer, but that's assuming you will get your asking price (not likely) while also discounting the inconvenience of having to sit around waiting for someone to come to you to buy your car.
It's up to you to decide if 1800 is too much for convenience.
ETA - Looking at it again, Paying list price with the trade-in offer is only $1427.00 more than selling the expedition at 16900 and then buying the F150 at list.
I'm already going over the original amount I wanted to spend on a new truck and like I said I don't have to buy anything at this time so I'm willing to wait it out for a bit.
I think if the dealer had come in with a higher price for mine or willing to drop the F150 I would have worked with them a little more, but the fact he came in with 9k for mine and full price for the truck as the initial offer pissed me off. When I told him what I wanted for mine he looked at me like I was an idiot which ticked me off more.
ETA: thanks for the info though. I'm spending about 2k more than I had originally planned and my wife and I are tight asses and budget every penny we spend. I'm just not willing to spend even 1500 more.
This post was edited on 9/26/11 at 3:49 pm
Posted on 9/26/11 at 3:55 pm to nino2469
the salesperson probably wasn't looking at you like you're an idiot, but rather cringing and wondering how he was supposed to go back and tell his sales manager what you wanted. Nobody likes to get their arse chewed, and the sales people get it from both the customer and the sales managers. just the opinion of someone that used to sell cars and was too nice for the business 
Posted on 9/26/11 at 4:01 pm to nino2469
If I were you I'd just wait it out. Shop around some more. Put your car up for sale and see what happens. If that truck is still sitting on the lot in a few weeks they may be willing to deal.
Posted on 9/26/11 at 4:04 pm to nino2469
I've wasted lots of money over the years because I don't like dickering over price. From now on I will let my son discuss price. He's a Honey Badger and he don't give a shite.
Posted on 9/26/11 at 4:08 pm to lsu6294
quote:
If I were you I'd just wait it out. Shop around some more. Put your car up for sale and see what happens. If that truck is still sitting on the lot in a few weeks they may be willing to deal.
This is my plan right now. The only negative about the truck was it smelled like someone sat in there and smoked all day long. They said there is a machine that can remove that smell but I'm leery about how well that works.
Posted on 9/26/11 at 4:11 pm to Zach
quote:
I've wasted lots of money over the years because I don't like dickering over price. From now on I will let my son discuss price. He's a Honey Badger and he don't give a shite.
Pretty much. I hate haggling with price myself, but I'm not going to pay you more money simply because I didn't press you.
My father is a straight badass when it comes to price negotiations. He's not cheap, he just knows what things are worth and won't pay a higher price just because.
Posted on 9/26/11 at 4:13 pm to nino2469
quote:
The only negative about the truck was it smelled like someone sat in there and smoked all day long.
Is this the F150? If so I'd tell them to shove their list price up their arse. IDGAF if it's a ferrari, if the interior smells like arse you are going to have to come down a lot before I'd even think about buying it.
Posted on 9/26/11 at 4:28 pm to nino2469
Be prepared to walk out of the dealership. I walked out three times on my last new-car lease deal. Each time the sales manager called me at home saying it was all a mistake in their calculations. Also, don't spend more than 20 minutes with the finance guy. They love to try to sweat you there after you've kinda relaxed thinking the deal is set. They're all a bunch of low-life thieves.
Posted on 9/26/11 at 4:42 pm to lsu6294
quote:
Is this the F150? If so I'd tell them to shove their list price up their arse. IDGAF if it's a ferrari, if the interior smells like arse you are going to have to come down a lot before I'd even think about buying it.
yep it was the F150. When I said something about it he said well you could just start being a smoker. I said my father in law died of lung cancer from smoking so I don't think I will do that. It wiped the smirk off his face.
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