re: I'm in the market for a new car

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I saw in another thread you ended up buying a new pathfinder recently... Would you mind sharing the details of the transaction? (Trim level, price etc). W

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Nissan Pathfinder Platinum Premium 2 wheel drive, fully loaded with NAV, heated and cooled seats, front and rear cameras, blah blah blah.

Has all the bells and whistles, even some that aren't standard: Lighted door sills, rubber mats, under cargo storage, etc.

Paid $40,350 out the door. Most dealers are asking $43 - $44 + TTL for this vehicle. Even got a $500.00 gift card from Edmunds (they were running a customer incentive), even though I negotiated on my own.

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Does Chase say you are approved for x amount, say $40,000? You take that to the dealership and they turn in the final price to Chase for the loan to begin?

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I've only done it once, but yes, that's basically what happens. But I wouldn't take the amount to the dealer and tell them that's how much you have. I would just tell them you have financing taken care of and negotiate the price from there. This is what I did...

I test drove a few cars, researched online and shopped around a little in person over the span of a few weeks. Once I knew what I wanted, I figured out exactly how much I needed to finance based on my down payment (you could presumably do this by estimating fairly close to what you could expect on a trade-in), and based on the price I was willing/expected to pay on the car.

When I knew how much I needed, I added a little bit to it for a buffer and then went to Chase looking for that amount. They pre-approved me for that amount and told me they would cut a check directly to the dealership for the exact amount once I found the car. I had approx 30 days to find the car.

I called a bunch of dealerships all over the south and found the car somewhere out of town for 10% less. When they asked about financing, I told them I already had it taken care of and that I would basically be paying in cash in the form of 2 checks (1 from myself and 1 from a bank). Got the dealer to write up the paperwork and send it to me and the banker. I did the paperwork I needed to for the bank, they cut the check, I took a ride to the dealership, hand delivered the bank's check and my check and drove the car home.

TL;DR - had only $10K, wanted $25K car, got approved at chase for $15K, found the car for $22K, Chase cut a check for $12K and I picked up the car.

What about X plan pricing? Should this be discussed up front or after you've reached a near bottom price in negotiations?

Does this advice work with dealerships and used cars?

I thought I have read somewhere else they are sometimes less likely to negotiate on used cars.

whats the best way to get dealer price or invoice price, or the codes that you guys referenced earlier prior to going to the dealership to start negotiations?

Bookmarked

Bump.

Does anyone have any input on how likely dealers are to come down if you are trying to get a very "popular" vehicle? For instance, if they don't have the color you are looking for or the options you want on hand, can you still get them down below invoice price? I'd imagine you don't have as much leverage if they are having to order the vehicle.

At that point are you at their mercy? I can find cheaper ones on autotrader but they are 1500 miles away, which makes saving $3k kind of a wash considering a 20 hr drive or a flight cost plus the cost of driving it back...

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At that point are you at their mercy? I can find cheaper ones on autotrader but they are 1500 miles away, which makes saving $3k kind of a wash considering a 20 hr drive or a flight cost plus the cost of driving it back...

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can probably get the car shipped for $500. although i'd only do this with a new car. want to drive used before i buy it.

How much bargaining power do you have with the true car price?