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Started By
Message
re: Help buying a new truck.
Posted on 11/28/12 at 8:31 am to GREENHEAD22
Posted on 11/28/12 at 8:31 am to GREENHEAD22
quote:
Well I will have to negotiate my trade in but its a older model GM truck so I am pretty sure they are all going to give me the same amount for it
Ray Chevy works off of KBB for trades. They gave me way more than anyone else on mine. They took my VIN and mileage and ran it through KBB. Qouted me the price and sent me the KBB info straight off the site. Was very happy with the experience. Did the same for my mom and a co-worker.
0
Posted on 11/29/12 at 9:02 am to NaturalBeam
quote:
I also paid $14 for a Consumer Report
Where/How?
Posted on 11/29/12 at 10:21 am to NaturalBeam
Thanks
Posted on 11/29/12 at 1:23 pm to GREENHEAD22
So just got back from a dealership to do some looking around and get some base prices. After all the rebates and other bs they "give" you, how much more can you usually talk them down? Please bear with me, first time buying a new vehicle. They showed me one for 33 that I liked but I am not paying that much for it.
Posted on 11/29/12 at 3:07 pm to GREENHEAD22
Cars.com or autotrader.com can tell you the invoice price. Start from there, then figure out what the dealer holdback is and subtract that (the only way I know how to see the holdback is through that link I showed - there may be a free way to see it but I wouldn't know).
Even after you subtract the holdback from the invoice, there will still be some profit built in for the dealership, likely in rebates or incentives or something - but invoice minus holdback is a good place to start.
Ignore the MSRP, it's a made up number
Even after you subtract the holdback from the invoice, there will still be some profit built in for the dealership, likely in rebates or incentives or something - but invoice minus holdback is a good place to start.
Ignore the MSRP, it's a made up number
This post was edited on 11/29/12 at 3:07 pm
Posted on 11/29/12 at 8:50 pm to NaturalBeam
I used to be a CFO for a fairly large automotive corporation.
Profit margin on new vehicles are low. Depending on make, the average is about $1200 per vehicle. Dealerships make most money from co-op money from franchises. More inventory they move, more back end money from factories.
So, if you want the rock bottom price for a new vehicle - go to the largest dealership in your town or next town on the last day of the month, on the last hour. Dealers have extra incentivized rebates in their desk drawers for such customers (app. $1000-$1500). Depending how close they are to their annual quota, they can dig deep into their profit margin (I've seen plenty of $5000 losses on deals).
Now if you're looking for a used vehicle - don't go to a franchise dealership. Used car profit business is the icing on the car at a franchise store. Buy from an individual and never ever buy from an auction. Wholesalers know how to cut corners and make check engine lights disappear without doing the service work.
Profit margin on new vehicles are low. Depending on make, the average is about $1200 per vehicle. Dealerships make most money from co-op money from franchises. More inventory they move, more back end money from factories.
So, if you want the rock bottom price for a new vehicle - go to the largest dealership in your town or next town on the last day of the month, on the last hour. Dealers have extra incentivized rebates in their desk drawers for such customers (app. $1000-$1500). Depending how close they are to their annual quota, they can dig deep into their profit margin (I've seen plenty of $5000 losses on deals).
Now if you're looking for a used vehicle - don't go to a franchise dealership. Used car profit business is the icing on the car at a franchise store. Buy from an individual and never ever buy from an auction. Wholesalers know how to cut corners and make check engine lights disappear without doing the service work.
Posted on 12/4/12 at 2:17 pm to SaraGator
quote:
I used to be a CFO for a fairly large automotive corporation.
Profit margin on new vehicles are low. Depending on make, the average is about $1200 per vehicle. Dealerships make most money from co-op money from franchises. More inventory they move, more back end money from factories.
So, if you want the rock bottom price for a new vehicle - go to the largest dealership in your town or next town on the last day of the month, on the last hour. Dealers have extra incentivized rebates in their desk drawers for such customers (app. $1000-$1500). Depending how close they are to their annual quota, they can dig deep into their profit margin (I've seen plenty of $5000 losses on deals).
Now if you're looking for a used vehicle - don't go to a franchise dealership. Used car profit business is the icing on the car at a franchise store. Buy from an individual and never ever buy from an auction. Wholesalers know how to cut corners and make check engine lights disappear without doing the service work.
Awesome info. Is there more pressure at the end of a quarter vs other months?
Posted on 12/4/12 at 2:50 pm to seawolf06
Plan on going by Ray Chev later this week. will report back. So far the two trucks I have looked at are 34 and 29 out the door. Thats with out any haggling, I am hoping to be able to get them down another 4K.
Posted on 12/4/12 at 7:51 pm to GREENHEAD22
Negotiated my wifes durango down from MSRP of 35700 to 29800. Keep in mind i also got an employee discount at 1% below invoice and a dealer rebate of $750, plus 2.9% @ 60 months.
They were trying for 72 months i will never go over 60 and i like financing for 48 when i can.
They were trying for 72 months i will never go over 60 and i like financing for 48 when i can.
This post was edited on 12/4/12 at 7:53 pm
Posted on 12/4/12 at 8:05 pm to bulldog95
Those two prices are with the rebates, I am paying in full so rates and financing do not pertain so I am pretty much just going to have to play a bunch of dealerships off of each other.
Posted on 12/27/12 at 6:09 pm to GREENHEAD22
So looking at Sat as the buying day. I am looking over the consumer report right now and I am trying to figure out if the average price paid they have listed is with TTL added in?
Posted on 12/27/12 at 8:02 pm to GREENHEAD22
I'd recommend not buying a Chevy. The new Fords are a much better truck, plus Chevy is redesigning for 2014, so you'll lose even more value more quickly due to having the older style truck.
I bought a loaded FX2 3 months ago for 25% off sticker. You should have no problem getting that kind of deal on a 2012 model of any truck. For the 13s obviously you would have to work much harder to get that deal. Good luck. All new trucks now are very nice, instill can't believe how nice mine is.
I bought a loaded FX2 3 months ago for 25% off sticker. You should have no problem getting that kind of deal on a 2012 model of any truck. For the 13s obviously you would have to work much harder to get that deal. Good luck. All new trucks now are very nice, instill can't believe how nice mine is.
Posted on 12/27/12 at 8:26 pm to LNCHBOX
$10,000 off 2013 model GMC's in Lafayette, La. Louisiana's largest volume dealership. Easy to deal with. GMC truck looks better than the chevy also.
Posted on 12/27/12 at 8:29 pm to basiletiger
They going that on yukons also?
Will Cover should just get a sticky with his tips on it.
Will Cover should just get a sticky with his tips on it.
Posted on 12/27/12 at 8:41 pm to Tigerholic
negative on yukon. Truck market right now is much more aggressive than full size SUV market.
Posted on 12/27/12 at 8:43 pm to basiletiger
Will Cover did a pretty good job of copy and paste. There is a book written by a guy who was paid to visit car dealerships etc. His tactics match to a Capital T.
This post was edited on 12/27/12 at 8:44 pm
Posted on 12/27/12 at 8:46 pm to basiletiger
Posted on 12/27/12 at 8:55 pm to jimbeam
I read an article a while back basically about a journalist that went undercover and worked at a couple dealers over a 6 month or so period. It was long but a good read, ill try to find and link it.
Posted on 12/27/12 at 8:58 pm to Tigerholic
That's the book I was referring to. Some good stuff in it; Some bad. The auto industry today is different than it was even five years ago. Dealers want and need your business. New car purchases are also easier than they have ever been with internet access. You can request a quote and within an hour have 5-6 quotes from dealers. Makes it very easy. Salesman are paid on volume, volume bonuses. New car profit margins are also smaller than they ever have been so everyone wants volume.
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