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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 9:51 am to lynxcat
quote:
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.
Yea, that was my line of thinking. At this point, all I think I can do is get the price I feel comfortable with. I just find it hard to gauge how good of a deal I'm getting. But, no matter what price I settle on, I'm sure the deal won't be near as good as I think it is.
Posted on 6/20/12 at 9:57 am to medtiger
My next step would be to find a "small town dealership" and provide them with the quote you got. I have had very good luck with small town dealers. 1- They tend to make you feel more comfortable 2- I find they try and deal a little bit better. These 2 things are strictly my opinion as my last 2 vehicles were done this way. Goodluck and remember that you have the upper hand....you can always walk out.
Posted on 6/20/12 at 12:06 pm to slapahoe
My previous experiences were the exact opposite. I usually deal with high volume dealers and have a much better experience with them. Their quantity over quality sales approach gives me the best deal. I am not interested in becoming the sales guys friend. I am however interested in getting the best deal.
The last truck I bought I got from a small town dealership. Even with a relative working at the dealership (only reason I went) it was the worst car buying experience I've had. My next truck will be bought in Texas. You do the entire deal over the phone, fly there, they pick you up and drive you to the dealership, sign papers, and leave. A total of an hour in the dealership and you save thousands over buying in BR.
To the OP, check out eBay. I don't suggest buying from there but it gives you a good idea on what new and used cars go for. Use this and the information you have to decide what you believe to be a good and fair price.
Right now dealerships are offering good incentives to finiance through them. I usually do this and then pay off the truck a few months later (when I can, I couldn't with my last truck). I still get the incentives and save by not having to pay interest.
The last truck I bought I got from a small town dealership. Even with a relative working at the dealership (only reason I went) it was the worst car buying experience I've had. My next truck will be bought in Texas. You do the entire deal over the phone, fly there, they pick you up and drive you to the dealership, sign papers, and leave. A total of an hour in the dealership and you save thousands over buying in BR.
To the OP, check out eBay. I don't suggest buying from there but it gives you a good idea on what new and used cars go for. Use this and the information you have to decide what you believe to be a good and fair price.
Right now dealerships are offering good incentives to finiance through them. I usually do this and then pay off the truck a few months later (when I can, I couldn't with my last truck). I still get the incentives and save by not having to pay interest.
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.
Posted on 6/20/12 at 7:08 pm to lsu68
quote:
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.
Wow! Didn't think dealerships gave that much of a discount. Good for you.
Posted on 6/20/12 at 7:15 pm to silstang23
Really?
That's run of the mill for such a high piced vehicle
I know Hondas sell well but that deal didn't seem that great to me
I got 12k off MSRP for my truck
That's run of the mill for such a high piced vehicle
I know Hondas sell well but that deal didn't seem that great to me
I got 12k off MSRP for my truck
Posted on 6/20/12 at 8:42 pm to Croacka
Wt truck was it?
Wonder how much one could get off of a f150 4x4 xlt? 8-9k?
Wonder how much one could get off of a f150 4x4 xlt? 8-9k?
Posted on 6/20/12 at 8:49 pm to slapahoe
Courtesy ford in breaux bridge is still offering $10k off MSRP. Just got a 2012 FX4 from them.
Posted on 6/20/12 at 8:54 pm to corym52
Damn I love the FX4. Smooth looking truck especially the inside. Did u get the Eco boost?
Posted on 6/20/12 at 9:04 pm to slapahoe
Yes. Completely loaded w/ nav and heat/cooled seats, super crew sticker was 47K before the 10k discount. Very happy with it.
Posted on 6/20/12 at 9:14 pm to corym52
I got a lariat super crew
Sticker was 48, paid just under 36
Sticker was 48, paid just under 36
Posted on 6/20/12 at 11:13 pm to corym52
Robison Brothers in Baton Rouge runs the same deal all the time. I am not sure if they are currently offering 10k off but if not, they will in a few months.
Posted on 6/21/12 at 6:56 am to lsu68
quote:
about 5000 under MSRP.
Most people negotiate off of MSRP, which is wrong to begin with. The MSRP or asking price, is a made up number.
When Joe Customer talks about, "I got $5000 off MSRP" - to him, it seems like a great deal. However, people who know how car negotiations work know that you should always start off negotiations from the dealer cost, because the invoice cost that the dealers are willing to show you already have profit built into it.
This post was edited on 6/21/12 at 7:00 am
Posted on 6/21/12 at 8:31 am to Will Cover
I know you have covered this before but where is a good place to search online for invoice prices for dealerships?
For instance, say a 2012 F-150 XLT 4x4 is stickered for $41k. What would be a rough estimate on what the invoice would be for that truck? $10 or 12K under sticker?
For instance, say a 2012 F-150 XLT 4x4 is stickered for $41k. What would be a rough estimate on what the invoice would be for that truck? $10 or 12K under sticker?
Posted on 6/21/12 at 9:35 am to slapahoe
Edmunds is a very good site to use. If you choose the options of the specific vehicle then it will tell you an approximate invoice price.
I just built a 2012 F-150 XLT 4X4 with options that would reach a $41k MSRP. Here's the link:
LINK
Click the button "Get true market value pricing" and it will give you an approximate invoice price. Very accurate. You could get it for around invoice price minus rebates. They are currently:
$5,000
in Total Savings
+
$1,000
Ford Credit Bonus Cash
+
$750
Trade Assist
For 2012 Ford F-150
SuperCrew 5.0L V8
w/ XLT Convenience, Chrome & Tow
I think it is $1000 less on the rebates if only a V6 engine (not 100% positive). Also, I do not believe Edmunds rebate information is correct. I pulled the rebate info off FordVehicles site.
Edit: $500 less on rebate for a non-5.0L V8. Just found it.
I just built a 2012 F-150 XLT 4X4 with options that would reach a $41k MSRP. Here's the link:
LINK
Click the button "Get true market value pricing" and it will give you an approximate invoice price. Very accurate. You could get it for around invoice price minus rebates. They are currently:
$5,000
in Total Savings
+
$1,000
Ford Credit Bonus Cash
+
$750
Trade Assist
For 2012 Ford F-150
SuperCrew 5.0L V8
w/ XLT Convenience, Chrome & Tow
I think it is $1000 less on the rebates if only a V6 engine (not 100% positive). Also, I do not believe Edmunds rebate information is correct. I pulled the rebate info off FordVehicles site.
Edit: $500 less on rebate for a non-5.0L V8. Just found it.
This post was edited on 6/21/12 at 9:36 am
Posted on 6/21/12 at 9:43 am to lil 7thward
quote:
I don't know how accurate this site is LINK
Truecar is pretty accurate; you'll have to do research for rebates yourself though. I was actually sent there by a friend who works in the car business. He basically said that Kelly Blue Book and the like are all garbage and completely ignore them.
If you want real used car values there is a "black book" that they have that has real dealer value and they constantly monitor what cars go for at auction regionally and nationally.
Posted on 6/21/12 at 9:48 am to mglsu21
For whoever is interested in buying a ford vehicle
Request some vehicle brochures online and they'll send you a private coupon for 750 bucks that stacks on all rebates and discounts
I didn't present it to my salesman until the deal had been set just to make sure I didn't get the run around
It's not really money out of their pockets anyway
Request some vehicle brochures online and they'll send you a private coupon for 750 bucks that stacks on all rebates and discounts
I didn't present it to my salesman until the deal had been set just to make sure I didn't get the run around
It's not really money out of their pockets anyway
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